The ITAT Ahmedabad deleted a Rs.7.46 lakh disallowance of employees’ PF contribution, ruling that payment made on the next working day is timely when the statutory due date falls on a Sunday. The ruling applied Section 10 of the General Clauses Act, confirming that the delay was valid and unavoidable.
ITAT Mumbai deleted a Rs.34.65 crore addition under Section 68 for unsecured loans, ruling that requirement to prove source of source only applies from A.Y. 2013-14 onwards. Tribunal held that proving the identity, genuineness, and creditworthiness of loan creditors was sufficient for year under appeal.
Understand the tax implications of employer-provided gifts for GST and Income-tax. Learn about the Rs.50,000 GST limit, perquisite tax rules, and essential compliance steps for HR and payroll.
Lenskart’s anticipated IPO is generating discussion over its high valuation (₹70,000 Crore post-issue). The company’s strength lies in its D2C, tech-enabled model, global expansion, and market leadership, despite recent profitability being driven by other income.
The ITAT Delhi ruled that the reassessment was invalid because the issue of setting off prior-year speculative losses was already examined in the original scrutiny assessment. The quashing relied on the “change of opinion” doctrine, as the AO used no new tangible material to reopen the case.
The CBDT extended the deadline for filing tax audit reports (to Nov 10, 2025) and ITRs for audited taxpayers (to Dec 10, 2025) for AY 2025-26. This relief addresses judicial mandates, natural disaster disruptions, e-filing portal glitches, and the complex compliance burden on businesses, facilitating accurate tax filing.
ITAT Delhi held that reopening beyond four years requires sanction from the Principal Commissioner or Commissioner. Approval taken from the Joint Commissioner rendered the reassessment invalid.
Learn about the Hindu Succession Act, 1956, its applicability, key provisions, and the 2005 amendment granting daughters equal rights as sons in Hindu Undivided Family property.
Court held that maintenance charges in a housing society are recurring liabilities, and claims filed within six years remain valid under Section 92 of the Maharashtra Cooperative Societies Act.
The Karnataka High Court disposed of the Buckeye Trust petition after the ITAT President assigned the matter to a new bench, following a High Court order that restrained a Judicial Member involved in an allegedly AI-driven decision from hearing the case.
