Day: October 29, 2026

Where sales are duly recorded in books and VAT returns, to treat it bogus sales, AO must bringing cogent adverse material on record – ITAT In a recent judgment, ITAT has held that in case of alleged bogus sales, once the assessee claims that sales were duly recorded …

Expenses to celebrate Diwali with staff creates a goodwill and, therefore amounts to expenses incurred for the purpose of business – ITAT In a recent judgment, ITAT has held that expenses incurred by the assessee to celebrate Diwali at his business premises along with staff members, definitely creates …