News

The ED searched 20 locations across Kerala in three cooperative society fraud cases involving alleged fake loans, depositor fraud and illegal property transfers.

ED Conducts Searches at 20 Locations Across Kerala in Three Cooperative Society Fraud Cases Involving Alleged Fake Loans and Illegal Property Transfers

Judgement

ITAT condones a 656-day delay but upholds Rs 31.80 lakh interest disallowance after the assessee fails to establish a direct nexus between overdraft interest and FDR income under Section 57(iii).

ITAT Rules Interest on FDR-Backed Overdraft Not Deductible Without Direct Nexus Under Section 57(iii)

The ITAT held that mere difference between physical and book stock cannot justify search penalty. 


ITAT Deletes Section 271AAA Penalty on Diamond Stock Discrepancy for Failure to Establish Undisclosed Income

Delhi ITAT condones a 783-day delay in filing an income tax appeal and restores the Rs 1.87 lakh penalty matter to CIT(A) for fresh adjudication.

ITAT Takes Liberal View on 783-Day Delay, Allows Appeal Against Rs 1.87 Lakh Penalty to Be Heard on Merits

The ITAT holds Rs 11 lakh cheque receipt explained and Rs 3.83 crore alleged cash payment as not established.


ITAT Deletes Additions Against Jaya Bachchan Over Alleged Noida Property Cash Receipt

ITAT remanded a Rs 23.53 lakh business income assessment based on Rs 2.94 crore purchases to the AO, granting the assessee a final opportunity to substantiate his claims with supporting documents.

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ED Conducts Searches at 20 Locations Across Kerala in Three Cooperative Society Fraud Cases Involving Alleged Fake Loans and Illegal Property Transfers

ITAT Rules Interest on FDR-Backed Overdraft Not Deductible Without Direct Nexus Under Section 57(iii)

ITAT Deletes Section 271AAA Penalty on Diamond Stock Discrepancy for Failure to Establish Undisclosed Income

ITAT Takes Liberal View on 783-Day Delay, Allows Appeal Against Rs 1.87 Lakh Penalty to Be Heard on Merits

ITAT Deletes Additions Against Jaya Bachchan Over Alleged Noida Property Cash Receipt

ITAT Remands Rs 23.53 Lakh Business Income Case to AO for Fresh Adjudication After Assessee Fails to Respond to Notices