The ITAT Bangalore deleted a Rs.23.77 Cr capitation fee addition and restored exemption u/s 11 for Sri Devaraj Urs Educational Trust, ruling that uncorroborated documents and contradictory statements lack evidentiary value.
ITAT Ahmedabad dismisses Revenue’s appeal, quashing a Rs.ｹ116.01 crore bogus sales addition to Pel Industries Ltd. as the assessment reopening was invalid and time-barred.
Allahabad High Court allows ITC claim as e-Way bill confirms actual goods movement, despite supplier’s GST registration being cancelled after the transaction.
The Allahabad High Court has granted bail to an individual accused of GST evasion, citing the offense’s compoundable nature, the accused’s lack of criminal history, and willingness to pay the compounding fee.
The Bombay High Court has issued a notice to the Attorney General to hear a petition challenging the definition of ‘spouse’ under the Income Tax Act for same-sex couples.
ITAT Mumbai ruled that forfeited share application money is a capital receipt, not taxable under Section 68. It also confirmed interest on business funds and disallowed ad-hoc expense additions.
The ITAT Ahmedabad ruled that a fall in gross profit alone cannot justify the rejection of an assessee’s audited books of account without the AO pointing out specific defects.
The ITAT Patna ruled that an assessee’s investment in property cannot be taxed as unexplained in the year of registration if the full payment was made in the previous financial year.
Advocates’ Tax Bar Association requests an extension of ITR and tax audit deadlines for AY 2025-26, citing e-filing portal glitches and compliance overlap.
The ITAT Pune has remanded the case of Nazneen Parvez Memon, citing a tax preparer’s error that led to a drastically inflated income declaration without the assessee’s knowledge.
