Addition deleted for deposits in assessee’s bank account, fees of students of the school the assessee was employed. In a recent judgment, Allahabad ITAT deleted the addition made to the income of the assessee towards deposits in his personal bank account, fees of the students of his employer …

Amendment to Income Tax Rule 2DCA – Income-tax (Twenty-Fifth Amendment) Rules, 2025 Income Tax Rule 2DCA was introduced by the Central Board of Direct Taxes (CBDT)via Notification No. 50/2022 (dated 6 May 2022). It lays out the methodology for computing minimum investment and exempt income under clause (23FE) …

Despite that assessee had formed various AOP syndicates for carrying out the business for a definite share of profit, the share of the assessee in the profit of these syndicates and also, the undisclosed income of the syndicates cannot be added to the income of the member assessee. …

Assessment made on the basis of a defective return filed by the assessee is invalid assessment – ITAT In a recent judgment, ITAT Bangalore has held that a defective return filed by the assessee is non-est and no assessment / reassessment can be made in the invalid/defective return …

Deposit in CGAS u/s 54F(4) has no application if assessee invests the sale consideration within the period stipulated in Section 54F(1) – ITAT In a recent judgment, ITAT Bangalore has held that requirement to deposit in CGAS under section 54F(4) has no application to a case where the …

Section 13 of Income Tax Act applies only on the eligibility of exemption of income u/s 11 and not at the time of grant of registration u/s 12AB. In a recent judgment, Hon’ble Supreme Court dismissed the appeal of the CIT(E) against the High Court judgment upholding that …