Judgement

The ITAT held that no demonetisation addition on cash sales can be made where the assessee maintained complete sales invoices, stock registers, VAT returns and audited accounts

No Demonetisation Addition on Cash sales where Assessee Maintained Proper Sales, Stock and Audit Records: ITAT

Articles

Currently, the income tax rules follow the changes introduced in Budget 2025, which made the current tax system easier for middle-income people.

Union Budget 2026 Ahead: Key Income Tax Changes Introduced in Budget 2025

News

The Income Tax Department Raids Rice Traders in Gaya and Aurangabad Over Suspected financial irregularities & Disproportionate Assets.

IT Department Conducts Raids Over Suspected Disproportionate Assets in Bihar

Final assessment orders under Section 144C held time-barred despite pending Supreme Court reference

ITAT Delhi Quashes DRP Assessments Passed Beyond Limitation

SC issues notice to resolve conflicting High Court views on allowability of delayed employees’ PF and ESI contributions.

Supreme Court Issues Notice on Delayed Employees’ PF/ESI Deduction Dispute

ITAT holds advertising and promotional expenses incurred on dealers and third parties do not constitute “fringe benefits” to employees.

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No Demonetisation Addition on Cash sales where Assessee Maintained Proper Sales, Stock and Audit Records: ITAT

Union Budget 2026 Ahead: Key Income Tax Changes Introduced in Budget 2025

IT Department Conducts Raids Over Suspected Disproportionate Assets in Bihar

ITAT Delhi Quashes DRP Assessments Passed Beyond Limitation

Supreme Court Issues Notice on Delayed Employees’ PF/ESI Deduction Dispute

No FBT on Dealer-Oriented Sales Promotion Spend; ITAT Deletes Addition