CPC not justified in disallowing deduction u/s 80JJAA when Audit Report was available on the date of processing the return – ITAT  In a recent judgment, ITAT Pune has held that CPC was not justified in disallowing deduction u/s 80JJAA when Audit Report though filed belatedly, was available …

Notice issued u/s 148 invalid if not signed digitally or manually by Assessing Officer – ITAT  In a recent judgment, ITAT Kolkata quashed the assessment order u/s 147 as the notice  issued u/s 148 was invalid as it did not bear the signature of Assessing Officer either digitally …

Interest paid on borrowed funds utilized for investment in group companies for strategic business purpose with commercial expediency cannot be disallowed u/s 36(1)(iii) – ITAT In a recent judgment, ITAT Chennai has held that interest paid on borrowed funds utilized for investment in group companies for strategic business …

Writ Court not to interfere if Petitioner has no defence to object to a special audit u/s 142(2A) In a recent judgment, Hon’ble High Court of Jharkhand has held that in a proceeding under Article 226 of the Constitution, the writ Court shall not exercise its discretionary jurisdiction …

Supreme Court reprimands Income Tax Department for filing SLPs with considerable delays Supreme Court reprimands the Income Tax Department for filing Special Leave Petitions with considerable delays only to seek an imprimatur of the Apex Court ABCAUS Case Law Citation:ABCAUS 4171 (2024) (07) SC In A recent judgment, …

Issue of notice u/s 148 before approval by CIT is void ab initio- Supreme Court dismissed SLP  In a recent judgment, Hon’ble Supreme Court dismissed the Special Leave Petition of the Revenue against the judgment that Issue of notice u/s 148 before grant of approval by CIT was …