ITAT Ahmedabad held that a genuine ₹50 lakh loan received and fully repaid with interest cannot be treated as unexplained credit under Section 68. The addition by AO and CIT(A) was deleted as the assessee provided full banking and repayment evidence.
ITAT Ahmedabad dismissed the Revenue’s appeal, confirming CIT(A)’s deletion of ₹1.06 crore addition under Section 41(1). The tribunal held that the unsecured loans were used for capital expenditure, not trading purposes, making the addition inapplicable.
ITAT Chandigarh held that cash deposits of Rs. 17.29 lakh were merely redeposits of earlier withdrawals. The addition made by the Assessing Officer was deleted as the evidence showed no unexplained income.
From Nov 1, 2025, GST registration to be granted in 3 days under Rule 14A for small B2B taxpayers with monthly tax liability up to ₹2.5 lakh.
Supreme Court ruled tenants cannot become property owners through long possession; tenancy is permissive, not adverse, ending misuse of adverse possession.
Exploring how digital lending reshapes Indian banking law, balancing innovation, data protection, and fiduciary trust under RBI’s evolving regulations.
ITAT Hyderabad held that an ex-parte dismissal by CIT(A) violated section 250(6) as not all grounds were adjudicated. The case was restored for a fresh, reasoned hearing.
ITAT Hyderabad upheld the dismissal of a trust’s appeal as barred by limitation due to a delay of nearly five years. The tribunal emphasized that no reasonable cause was shown to condone the delay under section 249(3).
Kerala High Court held that appellate authority to adopt liberal view and accept document since appropriate opportunity not granted by adjudicating authority to produce documents. Accordingly, writ disposed of and matter remanded back.
ITAT Mumbai held that transfer pricing adjustment in relation to international transaction of payment of bareboat charter hire fees is directed to be deleted since benchmarking approach of assessee is already accepted by DRP in earlier years.
