On appeal CIT (A) held that disallowance u/s 10AA can be made only when the total income is enhanced by the AO or TPO. Co-ordinate bench has already decided this issue for AY 2014-15 and disallowance u/s 10AA was deleted.
CIT(E) was not justified in denying assessee’s applications for final registration u/s 12AB / final approval u/s 80G as assessee had done only charitable activities till now and not undertaken any activity contemplated by object No. 2 & 3.
An amendment to the agreement on September 24, 2014, revised the terms of consideration. Assessee argued that possession of the property was never transferred as evidenced by ownership documents like the 7/12 extract and electricity bills.
A Chartered Accountant was reprimanded by the ICAI’s Disciplinary Committee for professional misconduct related to audit deficiencies and disclosure failures.
Where assessee had produced ledger accounts, AO did not have any material to substantiate that deposits aggregating ₹66,44,134/- were made in assessee’s bank account to contradict the same.
Highlights of Swachhata Pakhwada 2025, luxury car customs duty evasion of Rs. 20 crore, and foreign currency smuggling case worth Rs. 1.35 crore at IGI Airport.
India extends Free import policy for Tur/Pigeon Peas until March 31, 2026, under FTP 2023. Notification No. 51/2024-25-DGFT
NCLT Delhi dismissed Akshay Kumar Bhatia’s insolvency plea against Cue Learn Pvt. Ltd., citing the claim did not qualify as operational debt under IBC.
CBDT removes anomaly in Vivad se Vishwas Scheme, allowing appeals filed after 22nd July 2024 within the prescribed time to be eligible.
ITAT Ahmedabad held that addition on grounds other than grounds forming part of reasons recorded for reopening of assessment not justified. Accordingly, addition towards unexplained investment which didn’t form part of reasons liable to be deleted.
