Judgement

The Income Tax Appellate Tribunal (ITAT), Mumbai, in one of its orders, ruled in favour of an assessee trust by granting Approval under 80G of the Income Tax Act, 1961, which was earlier rejected by the ld. CIT(E).

ITAT Clarifies: Financial Aid in India, Even for Studies Abroad, Not Foreign Application of Funds

The ITAT Mumbai ruled that the Assessing Officer had conducted proper verification of ESOP expenses, making the PCIT’s Section 263 revision order invalid.

ITAT Mumbai Quashes Section 263 PCIT's Revision Order As AO Had Made Due Enquiry on ESOP Claim

ITAT Mumbai ruled that the Rs. 70 lakh cash payment allegation in a property purchase was unsubstantiated, granting relief to the assessee.

ITAT Deletes Rs. 70 Lakh Addition on Cash Property Purchase, Citing Lack of Evidence

News

A Kerala-based flower export firm was exposed for secretly routing Rs. 330 crore through cryptocurrency in a hawala-style money laundering network.

IT Dept. Cracks Down on Rs. 300 Crypto Hawala Racket in Kerala; Digital Wallets Used to Move Illicit Funds

The ITAT, Mumbai ruled in favour of Shreyas Anil Talpade, the Indian actor, film director and producer, and deleted the addition of Rs 71,00,000 and the disallowance of Rs 21,14,836

ITAT Clears Shreyas Anil Talpade of Alleged Cash Payments and Expense Disallowance

The ITAT Mumbai dismissed the Revenue's appeal, upholding Aishwarya Rai Bachchan's self-assessed disallowance and rejecting the excess disallowance under Section 14A.

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ITAT Clarifies: Financial Aid in India, Even for Studies Abroad, Not Foreign Application of Funds

ITAT Mumbai Quashes Section 263 PCIT's Revision Order As AO Had Made Due Enquiry on ESOP Claim

ITAT Deletes Rs. 70 Lakh Addition on Cash Property Purchase, Citing Lack of Evidence

IT Dept. Cracks Down on Rs. 300 Crypto Hawala Racket in Kerala; Digital Wallets Used to Move Illicit Funds

ITAT Clears Shreyas Anil Talpade of Alleged Cash Payments and Expense Disallowance

ITAT Mumbai Gives Clean Chit to Aishwarya Rai in Rs. 4.11 Crore Tax Dispute