News

The Income Tax Department is investigating a Delhi-NCR couple for allegedly evading Rs 5.3 crore in taxes through fake political donation receipts, fabricated certificates.

Delhi-NCR Couple Under Scanner for Alleged Rs 5.3 Crore Tax Evasion Using Fake Receipts and Fabricated Certificates

The RBI has extended the supersession of Abhyudaya Co-operative Bank's board, with Satya Prakash Pathak continuing as Administrator under the guidance of the Committee of Advisors.

RBI Announces Extension in Supersession of Board of Directors of Abhyudaya Co-operative Bank for Another Year

Judgement

ITAT deletes the entire Section 271D penalty, holding that the Assessing Officer (AO) had invoked the wrong provision of the Income Tax Act.

ITAT Cancels Section 271D Penalty on Rs 47.54 Lakh Cash Property Sale Over Invocation of Wrong Income Tax Section

The ITAT Lucknow allows assessee to produce Additional Evidence after finding inadequate opportunity of hearing before CIT(A).

ITAT Remands Capital Gain Addition for Fresh Verification of Eviction and Development Expenses

The ITAT Lucknow directs AO to re-examine exemption claim and additions after giving society an opportunity to furnish evidence.

ITAT Remands Assessments of Education Society for Fresh Verification of Section 10(23C)(iiiad) Exemption 

The ITAT Lucknow finds CIT (E) rejected approval under Section 80G without considering existing provisional registrations.

ITAT Remands Foundation’s Section 80G Approval Application for Fresh Verification

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