There is no bar in holding cash after withdrawals for longer period before deposited into bank on subsequent dates – ITAT In a recent judgment, ITAT Visakhapatnam has deleted addition u/s 69A towards unexplained money holding that there is no bar in holding the cash after withdrawals for …

Bank of India-Online Concurrent Audit Empanelment  FY 2025-26. Last Date to apply is 08.07.2025 Notice for CA firms applying for empanelment as Concurrent Auditors 1. Bank of India invites application from eligible Chartered Accountant firms, desirous to undertake Concurrent Audit assignment for empanelment. 2. The Application should be …

Fair market price of property cannot be determined exactly. Valuation will differ from valuer to valuer – ITAT In a recent judgment, ITAT Nagpur has deleted addition u/s 56(2)(vii)(b)(ii) observing that the fair market price of property cannot be determined exactly. Valuation will differ from valuer to valuer …

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 …