Month: April 2026
ITAT allows exemption u/s 54 allowed despite failure to deposit the amount in Capital Gains Accounts Scheme and new asset having a shop In a recent judgment, ITAT Lucknow has allowed exemption u/s 54F holding that the requirement to invest in Capital Gains Accounts Scheme is merely procedural …
Addition cannot be made in the hands of the assessee solely on the basis of uncorroborated loose-sheet – ITAT In a recent judgment, ITAT Surat has held that addition cannot be made in the hands of the assessee solely on the basis of uncorroborated loose-sheet. ABCAUS Case Law …
ITAT dismisses claim of Leave Encashment exemption u/s 10(10AA)(ii) beyond Rs. 3 lakhs In a recent judgment, ITAT Ahmedabad has dismisses claim of Leave Encashment exemption u/s 10(10AA)(ii) beyond Rs. 3 lakhs for prior to AY 2023-24 ABCAUS Case Law Citation:5132 (2026) (04) abacus.in ITAT In the instant …
Assessing Officer had taken a reasonable stand that 25 kg written in WhatsApp chat/text message was 25 lakh – ITAT In a recent judgment, ITAT has held that the Assessing Officer had taken a reasonable stand that 25 kg written in text message/chat represented 25 lakh and the …
Shareholders are only owners of the shares of the company therefore, income from properties earned by the company cannot be treated to be an income of the shareholders. In a recent judgment, Hon’ble High Court has held that shareholders of the company are only owners of the shares …
When approval for reassessment was granted by unauthorised authority, such jurisdictional error cannot be shielded by the law of limitation – High Court In a recent judgment, Calcutta high Court has held where approval for reassessment was granted by an authority not “specified” under the statute, such jurisdictional …
ITAT on presumption of bogus purchases ought to have remanded case to AO to reconsider the whole matter instead of determining appropriate percentage of profit In a recent judgment, Kerala High Court has held that when ITAT ordered a remand on the question whether there were “bogus purchases” …
Where proceedings u/s 153C are barred by limitation, AO can not reopen the case invoking section 148 and 148A of the Act – ITAT In a recent judgment, ITAT Agra has held that where proceedings u/s 153C were barred by limitation, AO can not take recourse was reopen …
Corporate guarantees executed by the corporate debtor constitute “financial debt” under IBC and banks to be recognized as financial creditors – Supreme Court In a recent judgment, Hon’ble Supreme Court has held that the corporate guarantees executed by the corporate debtor constitute “financial debt” within the meaning of …
Canara Bank Online Concurrent Auditors Empanelment 2026-27. Last Date to apply online is 09.05.2026 Canara Bank Online Concurrent Auditors Empanelment 2026-27 1. Canara Bank invites application from the eligible / interested Proprietary Concerns / Firms / LLP for empanelment as Concurrent Auditors for conducting Concurrent/Continuous Audit in the …
