News

CBI arrests an Airtel distributor accused of fraudulently issuing around 700 SIM cards linked to an illegal SIM box network and 73 cybercrime cases across India.

CBI Arrests Airtel Distributor Over Illegal SIM Box Operation Linked to 73 Cyber Fraud Cases

Judgement

ITAT deleted Section 69A bogus LTCG addition, holding that suspicion and Investigation Wing findings alone could not establish an accommodation entry.

ITAT Deletes Section 69A Bogus LTCG Addition, Holds Suspicion Cannot Replace Evidence

The ITAT Bangalore held that success fee of Rs 1.47 crore was wholly and exclusively incurred in connection with assessee’s sale of shares. 


ITAT Rules Advisory Fee Directly Linked to Share Divestment Qualifies as Deductible Transfer Expenditure

ITAT remanded a petrol pump operator’s case for fresh assessment after finding that the AO applied an 8% profit rate without considering past profits or comparable businesses.

ITAT Remands Rs 2.24 Crore Petrol Pump Income Case for Fresh Examination Over Unjustified 8% Profit Estimation

Notifications

The CBDT through the Directorate of Income Tax (Systems), has notified the guidelines for furnishing Statements of Financial Transactions (SFT-2518) relating to Mutual Fund transactions. 


Mutual Fund Transactions to Feed ITR Pre-Filling: CBDT Prescribes Half-Yearly SFT Reporting

The CBDT through the Directorate of Income Tax (Systems), has notified the guidelines for furnishing Statement of Financial Transactions (SFT-2517) relating to depository transactions. 


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CBI Arrests Airtel Distributor Over Illegal SIM Box Operation Linked to 73 Cyber Fraud Cases

ITAT Deletes Section 69A Bogus LTCG Addition, Holds Suspicion Cannot Replace Evidence

ITAT Rules Advisory Fee Directly Linked to Share Divestment Qualifies as Deductible Transfer Expenditure

ITAT Remands Rs 2.24 Crore Petrol Pump Income Case for Fresh Examination Over Unjustified 8% Profit Estimation

Mutual Fund Transactions to Feed ITR Pre-Filling: CBDT Prescribes Half-Yearly SFT Reporting

CBDT Notification: Half-Yearly SFT Reporting by Depositories to Facilitate Capital Gains Pre-Filling in ITRs