Delhi ITAT set aside income addition under Section 44AD, holding that Assessing Officer acted beyond his powers in a limited scrutiny case meant only for verifying cash deposits.
The ITAT Chennai restored a trust’s appeal to the AO to verify if the asset’s cost was allowed as application of income before disallowing depreciation under Section 11(6) of the Income Tax Act.
FSSAI issues draft amendments to the Alcoholic Beverages Regulations, 2018, revising norms for sparkling wine, wine-based drinks, and labeling.
Tribunal held that CPC cannot treat entire receipts of a registered charitable trust as taxable income under Section 143(1). Intimation was quashed as beyond permissible scope of adjustment.
The ITAT Kolkata dismissed the Revenue’s appeal against Mangalvani Exports Pvt. Ltd. for AY 2019-20 because the tax effect was below the CBDT’s ₹60 lakh monetary limit.
Tribunal sent back case to CIT(Exemption) after noting that assessee’s Form 10AB was filed before CBDT Circular No. 7/2024, which extended due date to 30 June 2024. The matter will be reconsidered afresh in view of updated circular.
NCLAT dismissed an application seeking to deposit ₹15.62 crore to demonstrate bona fides and stay judgment, holding that once a matter is reserved for judgment, no rights or proceedings remain pending between the parties.
Charity Commissioner, Maharashtra, has extended the deadline for filing annual accounts of registered public trusts for FY 2024-25 to 30th November 2025. Read Circular No. 621/2025 dated 30.10.2025 for details.
Madras HC rules contractor cannot defer GST payment due to non-reimbursement by govt client, but grants relief allowing payment in eight equal monthly installments.
While upholding part of addition under Section 2(22)(e), ITAT Mumbai directed Assessing Officer to restrict deemed dividend amount only to extent of accumulated profits of lending company.
