Judgement

The ITAT Ahmedabad decided in favour of Hiralben Jineshbhai Bavisi, holding that cash deposits in her bank account constituted business receipts and not unexplained income, deleting the prior addition.

Unexplained Cash Deposits: ITAT Ahmedabad Grants Relief to Small Homemade Food Business

ITAT deletes Rs 11.82 crore in alleged bogus purchase additions after finding the transactions supported by transport, toll, stock, and banking records.

ITAT Deletes Rs 11.82 Crore Bogus Purchase Additions After Finding Genuine Purchases Supported by Toll, Transport, and Banking Records

The ITAT holds assessee must be given adequate opportunity of being heard before deciding taxable income.

ITAT Remits Cash Deposit Case for Fresh Assessment Over Inadequate Hearing 

ITAT remands Rs 2.35 crore Section 40(a)(i) disallowance to CIT(A) for fresh decision after related TDS appeal.

ITAT Sets Aside Rs 2.35 Crore Disallowance, Directs CIT(A) to Reconsider After TDS Appeal

ITAT quashes the cancellation of Section 80G approval, holding that its valid approval covering AYs 2023-24 to 2027-28 continued to remain in force.

ITAT Quashes CIT(E)'s Order After Finding Taxpayer Is Already Covered by Section 80G Approval Till 2027-28

The ITAT Delhi directs taxation of addition under normal provisions instead of Section 115BBE.

ITAT Restricts Addition on Demonetisation Cash Deposits of upto Rs. 5 Lakh

ITAT remands Rs 28.49 lakh unexplained income dispute to AO for fresh examination after assessee changed his stand on SBI CSP bank deposits.

ITAT Remands Rs 28.49 Lakh Unexplained Income Dispute to AO for Fresh Examination After Assessee Changes Stand on SBI CSP Bank Deposits

The Union Cabinet has approved a new Bill to increase the number of Supreme Court judges from 33 to 37, excluding the Chief Justice, aiming for faster justice and better case handling.

Supreme Court Judge Strength to Increase from 33 to 37 for Faster Justice

The Tribunal examined the DGAP report; found that ITC benefits were already passed to buyers; held no profiteering occurred; accepted the closure report; and dismissed the proceedings against the respondent company.

Builder Cleared of Profiteering Charges After Passing Excess ITC Benefit to Homebuyers: GSTAT

Jubilant Ingrevia Limited received a GST penalty order confirming demand for FY 2017-18, alleging wrongful ITC use, and stated it planned to file an appeal before GSTAT.

Jubilant Ingrevia to Challenge Rs 2.03 Crore GST Demand Before GSTAT

Gobind Jain filed a Rs 70 crore lawsuit against IndusInd Bank, alleging wrongful termination without due process, seeking reinstatement, unpaid dues, and reputational damages in the Bombay High Court.

Rs 70 Crore Claim Row: Ex-CFO Gobind Jain Moves Bombay High Court Against IndusInd Bank Over Alleged Wrongful Dismissal

Dream Sports launched DreamStreet, its new retail broking platform, marking entry into financial services. The platform offered equity and ETF trading with AI tools to simplify investing for users.

Dream Sports Launches Dream Street: AI-Powered Entry into India’s Retail Broking Market

Income Tax

Finance

ICAI

ITAT Delhi

ITAT

Chartered Accountant

CBDT

Institute of Chartered Accountants of India

ITAT remands the Rs 2.04 crore pre-operative expense dispute to CIT(A), directing a fresh examination of business commencement, supporting documents, revenue recognition, and interest expenditure.

ITAT Remands Rs 2.04 Crore Pre-Operative Expense Disallowance Dispute, Holds Business Setup and Commencement Are Distinct

The ITAT holds Search Conducted After 1 April 2021 Triggers Special Reassessment Mechanism.

ITAT Quashes Assessment Framed Under Section 143(3) After Search

ITAT condoned a 46-day delay in filing the appeal and directed the CIT(A) to hear and decide the tax dispute on merits.

Unexplained Cash Deposits: ITAT Ahmedabad Grants Relief to Small Homemade Food Business:

Unexplained Cash Deposits: ITAT Ahmedabad Grants Relief to Small Homemade Food Business

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