ITAT Rajkot deletes Rs.2.5 lakh cash addition made during demonetization, ruling that the amount was within the non-taxable limit specified by the CBDT for small deposits.
The Ministry of MSME mandates that all new delayed payment cases under the MSMED Act must be filed on the new MSME ODR Portal starting October 15, 2025, replacing the Samadhaan portal.
Tax professionals request the immediate enabling of GST Annual Return (GSTR-9) and Reconciliation Statement (GSTR-9C) for FY 2024-25 to avoid compliance hardship and synchronized Income Tax Audit.
ITAT Delhi quashes reassessment, deleting Rs. 85 lakh Sec 69C addition. AO cannot travel beyond recorded reasons if the original reason for reopening is not sustained.
Mumbai ITAT quashes ₹1.76 Cr unexplained investment tax on NRI homemaker, ruling joint registration doesn’t justify addition when funds came solely from husband.
The DA rate for PSU employees for Oct-Dec 2025 (Q3 FY 2025-26) is set at 51.80%, an increase of 2.80% from the previous quarter, based on the latest CPI-IW indices
ITAT Delhi held that reopening under Section 148 on an incorrect PAN and with mechanical sanction by PCIT is invalid, quashing the Rs. 3.50 crore addition under Section 68 and setting aside reassessment proceedings.
ITAT quashes DCIT’s 153C assessments for Piyush Bongirwar, holding that a single diary page pertaining only to AY 2013-14 cannot justify assessment for later years without specific incriminating material.
ITAT Mumbai allows Nikhil Manjrekar’s Sec 54 claim, directing deletion of LTCG disallowance; substantive proof of property reinvestment sufficed despite technical objection.
ITAT Delhi deletes AO’s ad hoc 50% expense disallowance and excess vessel cost addition for JITF Waterways. Upholds CIT(A)’s reliance on S43(1) Expl. (6) for asset cost.
