CSR Expenses though not allowed u/s 37 however allowable deduction u/s 80G of the Income Tax Act 1961 – ITAT In a recent judgment, the ITAT Rajkot has held that CSR Expenses, even though not allowed u/s 37 of the Income Tax Act, however, the CSR expenditure is …

Large cash seized from State not where business is carried is unexplained income In a recent judgment, the ITAT Pune has held given the facts, that large amount of cash seized from the assessee at State other than where he carried business can not be accepted as business …

Period of limitation for passing Revisionary order u/s 263 to be reckoned from the date of the original assessment order not reassessment order In a recent judgment, Hon’ble Rajasthan High Court has held that Period of limitation for passing Revisionary order u/s 263 to be reckoned from the …

Only undisputed tax liability is to be paid before filing appeal to CIT(A)-ITAT In a recent judgment, ITAT Pune has that objective of section 249(4)(a) is to ensure undisputed tax liability is paid before filing appeal. Self-assessment tax paid as per Return of Income is proper compliance of …

Sanction of Prosecution u/s 276B set aside due to Covid-19 pandemic and TDS being deposited within three months In a recent judgment, Hon’ble Rajasthan High Court has set aside sanction of Prosecution u/s 276B as assessee suffered from Covid-19 pandemic and TDS was deposited within three months with …

Assessee cannot be asked to prove source of cash deposit made in bank account opened by forgery – ITAT  In a recent judgment, ITAT, Delhi has held that assessee cannot be asked to prove source of cash deposit made in bank account being opened by someone else by …