Accounting principles and provisions of law do not permit the addition in relation to an opening balance – ITAT In a recent judgment, ITAT Lucknow has held that accounting principles and provisions of law do not permit the addition in relation to an opening balance. Adverse reference, if …

Penalty levied for late supply of goods is an allowable deduction u/s 37 as late supply neither a crime nor a prohibited activity – ITAT In a recent judgment, ITAT Delhi has deleted addition made u/s 37 of Income Tax Act on account of penalty due to late …

Deduction u/s 80P(2)(d) towards interest received from cooperative banks is allowable to a cooperative society. In a recent judgment, Hon’ble Sikkim High Court has held that interest received from Cooperative banks is an allowable deduction u/s 80(P)(2)(d) to Cooperative Society. ABCAUS Case Law Citation:5025 (2026) (01) abcaus.in HC …

Supreme Court to decide difference between employees & employer contribution to PF, ESI for allowability under Section 43B of the Income Tax Act. In a recent case, the Hon’ble Supreme Court has admitted SLP to decide if there is difference between employees and employer contribution to PF, ESI …

There is no legislative mandate to collect tax at source under section 206C (1C) from the person involved in illegal mining or illegal transportation of minerals. Supreme Court dismissed SLP of Department. In a recent judgment, Hon’ble Supreme Court dismissed SLP of the Income Tax Department upholding Chhattisgarh …

In the absence of objection by donors to receipts mentioning that donations were towards corpus, it is assumed that donations were towards the corpus of the trust – ITAT In a recent judgment, ITAT Ahmedabad has held that when receipts categorically mentioned the fact of the donation having …