Revenue cannot approbate and reprobate at the same time-ITAT deleted addition of commission on alleged bogus sale and purchase In a recent judgment, ITAT Delhi held that the Revenue cannot approbate and reprobate at the same time and deleted addition of commission on alleged bogus sale and purchase. …

Borrower’s consent not required for credit information sharing by banks. RBI issues the Master Direction – Reserve Bank of India (Credit Information Reporting) Directions, 2025 The Reserve Bank of India (the RBI) has issued the Master Direction – Reserve Bank of India (Credit Information Reporting) Directions, 2025 (CICRA). …

ICAI debars seven chartered accountants for charges of professional misconduct ICAI has held seven Chartered Accountants guilty of committing Professional Misconduct as defined in CA Regulations and has debarred them for prescribed period by ordering removal of their name from the register of members and also penalising them …

Online empanelment of CA firms / LLPs firms with CAG for the year 2025-26 to be available on CAG website www.care.cag.gov.in from 07.01.2025 to 17.02.2025 CAG Empanelment of Chartered Accountant firms/LLPs for the year 2025-2026 Online Applications are invited from Chartered Accountant firms/LLPs who desire to be empanelled …

ITAT allows deduction for employment of new workmen u/s 80JJAA by way of submission despite not filing revised return of income.  In a recent judgment, ITAT Rajkot has upheld the order of the CIT(A) allowing deduction respect of employment of new workmen u/s. 80JJAA claimed by way of …

Addition u/s 68 for cash collection from exhibition of films in the theaters deleted as the amount was duly recorded in books of account.  In a recent judgment, ITAT Chennai has deleted the addition u/s 68 towards cash collection from exhibition of films in the theaters as the …