ITAT has jurisdiction to stay an order appealed against, even in absence of any subsisting tax demand. In a recent judgment, High Court has held that the ITAT has the jurisdiction to grant stay of the order cancelling Registration u/s 12A of the Income Tax Act notwithstanding that …

Effect on a common taxpayer of reduced timeline for filing TDS Correction statements on TDS Credits Income Tax Department has issued an advisory for a common taxpayers regarding effect of reduced timeline for filing TDS Correction statements on your TDS Credits. The advisory is as under: Important for …

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 …