Waiver of principal amount of loan from private bank cannot be treated as income – ITAT In a recent judgment, ITAT Chandigarh has held that the waiver of the principal amount of loan from private bank cannot be treated as income under Sections 2(24)(xviii), 28(iv) and 41(1) of …

Notice u/s 148A(b) not signed physically or digitally is illegal, invalid and inoperative – High Court In a recent judgment, High Court of Karnataka has held that Notice u/s 148A(b) was illegal on two counts first notice was not signed physically or digitally secondly, notice prescribed less than …

Assessment Order passed without giving copy of valuation report to assessee quashed by High Court In a recent judgment, High Court of Telangana has quashed Assessment order passed based upon valuation report without giving copy of valuation report to assessee. ABCAUS Case Law Citation:ABCAUS 4108 (2024) (06) HC …

Benefits of Employees’ State Insurance (ESI) Act 1948 extended to seven districts of Uttarakhand w.e.f. 1st April 2024 EMPLOYEES’ STATE INSURANCE CORPORATION NOTIFICATION New Delhi, the 18th June, 2024 No. N-17011/1/UK/2024-P&D—In pursuance of powers conferred by Section 46(2) of the Employees’ State Insurance Act, 1948 (34 of 1948), …

CPC was not justified in ignoring the revised tax audit report furnished by the assessee correcting the mistake committed in the original tax audit report – ITAT In a recent judgment, the ITAT Mumbai has held that CPC was not justified in ignoring the revised tax audit report …

No addition could be made only on the ground that there was time gap between the withdrawals and the corresponding cash deposits. In a recent judgment, the ITAT Jaipur has held that no addition can be made only on the ground that there was time gap between the …