Training workshop for performance management, and career management for employees are general training programs that cannot be considered as technical services – HC In a recent judgment, Hon’ble Karnataka High Court has held that training workshop for performance management, and career management for employees are general training programs …

High Court directed closure of Capital Gain Deposit Scheme (CGDS) Account opened mistakenly by the assessee on wrong advice by tax consultant. In a recent judgment, Hon’ble High Court of Meghalaya has directed Income Tax Authorities to expeditiously close the Capital Gain Deposit Scheme (CGDS) Account of the …

Non application of correct section is a classic example of non-application of mind by Quasi-judicial authority – ITAT deleted addition u/s 69 In a recent judgment ITAT Raipur deleted addition made under section 69 instead of correct section 68 of the Income Tax Act, 1961 (the Act) holding …

Applicability of limitation for completion of assessment u/s 153 to a DRP proceeding under Section 144C – matter to be referred to larger bench In a recent judgment, Supreme Courts gave split judgment on the interpretation of applicability of limitation for completion of assessment u/s 153 to a …

It is well-settled that once the source of cash is explained to be business receipts already accounted for and taxed, addition u/s 68 is unwarranted – ITAT In a recent judgment, ITAT Surat has deleted addition u/s 68 of the Income Tax Act, 1961 (the Act) holding that …

ITAT confirmed addition u/s 69C as unexplained expenditure over and above Gross Profit addition In a recent judgment, ITAT Hyderabad confirmed addition under section 69C as unexplained expenditure over and above the GP addition holding that the two additions serve different purposes i.e. one addresses the unexplained nature …