ICAI set up branch in Tonk District (Rajasthan) with effect from April 25, 2024. The Institute of Chartered Accountants of India (ICAI) has set up a Branch of Central India Regional Council (CIRC) in Tonk District (Rajasthan) with effect from April 25, 2024. The Branch shall be known …

Duty drawback cannot be a part of total turnover and is separately chargeable – ITAT In a recent judgment, the Surat ITAT has held that duty drawback received on export sales cannot be a part of total turnover and is separately chargeable. ABCAUS Case Law Citation:ABCAUS 4025 (2024) …

CIT(A) can not dismiss appeal in limine for non filing of written submissions by assessee In a recent judgment, the Agra ITAT has held that CIT(A) can not dismiss appeal in limine for not filing written submissions without deciding the issues on merits as per law in terms …

Addition could be made only for part of additional profit on sales corresponding to bogus purchase bills In a recent judgment, the Bombay ITAT has held that addition could be made only for part of additional profit on sales corresponding to bogus purchase bills ABCAUS Case Law Citation:ABCAUS …

Genuineness of transaction continuing from preceding year can not be disapproved without cogent material In a recent judgment, the Bombay ITAT has held that genuineness of the transaction continuing from preceding year can not be disapproved merely based on information received from the Investigation Wing ABCAUS Case Law …

ITAT deletes Penalty u/s 270A due to defective notice issued u/s 274 for not specification of penalty In a recent judgment, the Bombay ITAT has deleted Penalty u/s 270A due to defective notice u/s 274 for not determination of penalty and for not mentioning in penalty order why …