Addition made without providing to assessse an opportunity for cross examination is invalid – ITAT In a recent judgment, ITAT Delhi has held that addition made on the strength of statement of alleged accommodation entry provider without providing assessee an opportunity for cross examination was invalid being in …

ICAI plans to launch certification / Post qualification course in Forensic Investigation. ICAI may soon launch its certification / diploma course on “Forensic Investigation” for Chartered Accountants. As per Regulation No. 204 of Chartered Accountants Regulations 1988, the Council of the Institute of Chartered Accountants of India is …

No disallowance u/s 40(a)(ia) can be made merely for not e-filing form 26A which is a procedural lapse. In a recent judgment, ITAT Mumbai has held that no disallowance u/s 40(a)(ia) can be made merely for not e-filing form 26A which is a procedural lapse. ABCAUS Case Law …

CBDT asks Income Tax officials to avoid asking irrelevant and unjustified queries in scrutiny notices issued to taxpayers. CBDT issues Instruction to Income Tax officials to not to ask irrelevant and unjustified queries in scrutiny notices issued to taxpayers. Recently an annexure to notice under section 142(1) allegedly …

Once repayment of the loan is established, credit entries cannot be added to income in isolation ignoring the debit entries despite being made in the later years – ITAT In a recent judgment, ITAT Calcutta has deleted addition for unexplained cash credit observing that once repayment of the …

Travel back theory as propounded by the CBDT Instruction is against the spirit of the ratio laid down by the Hon’ble Apex Court in Ashish Agarwal case – ITAT In a recent judgment, ITAT Jaipur has held that travel back theory as propounded by the CBDT Instruction is …