• Income Tax

Deduction u/s 80-IA(7) not allowed for delayed filing of audit report in Form 10CCB

5 months ago

Filing audit report in Form 10CCB within due date is mandatory. The assessee cannot claim deduction u/s 80-IA(7) he ground…

  • Income Tax

Is CSR expenditure is allowable under section 80G of Income Tax Act – ITAT says “Yes”

5 months ago

CSR expenditure of companies is allowable under section 80G unless fall under the two exceptions specified. In a recent judgment,…

  • Income Tax

Territorial jurisdiction of ITAT is determined on the basis of situs of Assessing Officer

5 months ago

Jurisdiction of ITAT is determined not by the place of business or residence of assessee but by the location of…

  • Income Tax

Notice u/s 148 set-aside as assessee’s e-mail was inactive and notices went un-noticed

5 months ago

Notice u/s 148 set-aside and remitted back since the assessee’s e-mail was inactive leading to all notices go un-noticed In…

  • Income Tax

AO after dropping an issue for lack of evidence may re-open it on gathering information

5 months ago

AO after dropping an issue in assessment u/s 143(3) for lack of evidence is competent to re-open such issue upon…

  • Income Tax

Jewellery converted into solid gold not unexplained or in excess of permissible limit

5 months ago

Merely because jewellery is converted into solid gold / gold biscuits, it cannot be presumed to be unexplained or in…

  • Income Tax

A luxury litigant assessee cannot be given a second innings to make good its case – ITAT

5 months ago

Assessee cannot be given a second innings to make good its case - ITAT declines to remand the case second…

  • Income Tax

20% profit rate appropriate on cash deposit in bank representing business receipts – ITAT

5 months ago

When cash deposits represent business receipts, income to be estimated by applying a reasonable profit rate. In a recent judgment,…

  • bankruptcy

Resolution plan to include a statement of beneficial-ownership of all natural persons

5 months ago

Every resolution plan to include a statement of beneficial-ownership of all natural persons who ultimately owns or controls the resolution…

  • bankruptcy

Change in the address of DRAT, Allahabad with effect from 11.12.2025

5 months ago

Change in the address of Debts Recovery Appellate Tribunal, Allahabad with effect from 11.12.2025 Ministry of Finance(Department of Financial Service)…