ITAT is required to examine correctness of the findings recorded by appellate authority and record conclusion why such findings are not acceptable In a recent judgment, the Hon’ble Calcutta High Court has held the ITAT over-turning the order passed by the appellate authority was required to examine the …

ABCAUS Excel Depreciation Calculator FY 2024-25 under Companies Act 2013 as per Schedule-II Version 03.21 The maiden ABCAUS Excel Companies Act 2013 Depreciation Calculator was first launched in March, 2015.  The ABCAUS Depreciation calculator for FY 2024-25 has also been formulated and styled the same way as its …

Approved Resolution Plan is binding on Income Tax Department. Demands raised subsequently are invalid – Supreme Court In a recent judgment, the Hon’ble Supreme Court has held that the approved Resolution Plan is binding on the Income Tax Department and any subsequent demand raised are invalid. ABCAUS Case …

The Reserve Bank of India (RBI) has appointed Shri Indranil Bhattacharyya as Executive Director (ED) with effect from March 19, 2025. Prior to his promotion as ED, Shri Bhattacharyya was serving as Adviser in the Monetary Policy Department of the Bank. Over a span of nearly three decades, …

Statements recorded u/s 131(1A) instead of section 133A(iii) by survey team were invalid hence no addition can be made merely on the basis of invalid statements – ITAT In a recent judgment, ITAT Chennai has held that statements recorded u/s 131(1A) instead of section 133A(iii) by the survey …

ITAT was not justified in declining admission of additional evidence without recording finding those documents were not necessary for deciding the case. In a recent judgment, Hon’ble Chhattisgarh High Court held that ITAT was not justified in declining the application for admission of additional evidence as it did …