ITAT Delhi quashes search assessments for Jagat Group, ruling that a single, consolidated approval letter for multiple assessees and years under Section 153D was invalid and mechanical.
Tribunal held that interest earned on FDs from borrowed funds for a highway project under construction must be capitalized against CWIP, dismissing Revenue’s claim to tax it as income from other sources.
Summary of Section 37(1) IT Act for business expenditure deduction. Covers “wholly and exclusively” test, commercial expediency, and disallowance of capital, personal, and illegal expenses.
CBIC withdraws circular requiring CA/CMA certificate for post-sale GST discount ITC reversal proof. Reduces supplier burden, restores reliance on S15(3)(b)(ii) statute.
Overview of capital budgeting tools for manufacturing firms. Details NPV, IRR, risk analysis, and after-tax cash flow modeling for strategic asset acquisition and lease vs. buy decisions.
ITAT Mumbai sets aside PCIT’s order, holding that AO’s acceptance of Section 80G deduction for CSR expenditure after inquiry is a plausible view, immunizing it from Section 263 revision.
Comparative analysis of working capital issues and tools in manufacturing (inventory, bulk cash) and service (debtors, cash mismatch) sectors. Includes CCC calculation examples.
RBI kept the repo rate at 5.50% in the Oct 2025 policy. GDP growth is projected at 6.8%, and inflation at 2.6%. New rules for credit loss, capital risk, and lending.
Mumbai ITAT sets aside CIT(A) remand for LTIMindtree; holds AO’s S144 mention was clerical, assessment was S143(3). Directs CIT(A) to decide TP issue on merits.
ITAT allows employee TDS credit of Rs. 13.14 Lakh despite employer Dunzo’s deposit failure. Salary slips are sufficient proof; denial for employer’s default is rejected.
