The ITAT Delhi has ruled that no penalty can be sustained on estimated income, deleting the penalty levied on an individual for discrepancies found in his Form 26AS.
ITAT Delhi quashes an assessment order for the Shilpi Sardana case, ruling that the Section 143(2) notice was invalid as it did not conform to the CBDT’s mandated format.
The ITAT Delhi has quashed the reassessment against Sonia Kapoor, ruling it invalid. The court found that because no addition was made on the initial reason for reopening, the entire process was void.
The ITAT Delhi has upheld the deletion of a ₹3.51 crore addition, ruling that the assessee proved the identity, creditworthiness, and genuineness of unsecured loans.
ITAT Delhi upholds the deletion of a ₹1.39 crore tax addition against Vikas Associates, ruling that the assessment was invalid under Section 153C based on the Delhi High Court’s Ojjus Medicare judgment.
Understand the tax implications of converting Tata Motors DVR to ordinary shares. Learn how to calculate deemed dividends and capital gains with a worked example.
The ITAT Delhi allows a taxpayer to claim a Section 80C deduction even though it was initially omitted from their tax return, citing a lack of a bar in the law for that year.
Learn about the going concern assumption in auditing, its importance post-COVID-19, and the triggers and procedures auditors use to assess a company’s financial viability.
A checklist of documents required for starting an MSME in Uttar Pradesh. This includes registrations for factory licenses, GST, EPF, and other common approvals.
SEBI has extended deadlines for regulated entities to comply with digital accessibility standards. The circular grants a one to twelve-month extension for various reporting and audit requirements.
