Judgement

ITAT allowed the assessee’s Rs. 2 lakh Section 80GGC deduction, holding that the department failed to prove the donation was bogus or that any cash was returned.

ITAT allows Deduction for Donation to Political Party, Dismisses ACIT Appeal for Lack of Evidence

Articles

As per the new regulation, taxpayers submitting FTC claims through Form 44 must now receive a verification by a certified chartered accountant.

Draft IT Rules, 2026: CA Verification Required for Foreign Tax Credit

Reassessment proceedings vitiated for breach of prior court directions and principles of natural justice

Fresh Section 148A(b) Notice Without Supplying Material Held Unsustainable by Gujarat HC

Scheme-level PAN does not defeat pass-through status where AIF registration exists at trust level; denial leads to impermissible double taxation

ITAT Allows Section 10(23FBA) Exemption to Edelweiss Despite Separate PAN

The court had held that when purchases are treated as bogus, only the income or the benefit portion can be brought to tax, and the entire purchases cannot be disallowed.

Only Income Component of the Alleged Bogus Purchases Can be Taxed, Not the Entire Purchases: High Court

ITAT rejects Revenue’s appeal, holds ad hoc disallowance unsustainable and allows matching interest expenditure

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ITAT allows Deduction for Donation to Political Party, Dismisses ACIT Appeal for Lack of Evidence

Draft IT Rules, 2026: CA Verification Required for Foreign Tax Credit

Fresh Section 148A(b) Notice Without Supplying Material Held Unsustainable by Gujarat HC

ITAT Allows Section 10(23FBA) Exemption to Edelweiss Despite Separate PAN

Only Income Component of the Alleged Bogus Purchases Can be Taxed, Not the Entire Purchases: High Court

Ad hoc Expense Disallowance and Interest Expenditure Linked to Court-Ordered Receipts Deleted