The ITAT dismissed the Revenues appeal, ruling that restrictions on set-off of carried-forward losses under Section 79 apply ...

Lenskart's anticipated IPO is generating discussion over its high valuation (₹70,000 Crore post-issue). The company's ...

ITAT Hyderabad held that penalty under section 221(1) of the Income Tax Act duly leviable for non-payment of self-assessment ...

Chennai ITAT ruled a S. 271D penalty time-barred, holding that the six-month limitation period starts from the AO's recorded ...

Authority held that consultancy services like planning and estimation qualify for GST exemption only when related to ...

GST portal's Invoice Management System (IMS) introduces Import of Goods section for BoE action. Manage imports and GSTIN ...

ITAT Mumbai deleted a Rs.34.65 crore addition under Section 68 for unsecured loans, ruling that requirement to prove source of source only applies from A.Y. 2013-14 onwards. Tribunal held that proving ...

ITAT Delhi held that a donor cannot be denied deduction merely because the political party failed to record the donation. Verified payment through bank qualifies for 80GGC ...

Court held that authorities cannot block Input Tax Credit accrued after the date of action, directing restoration of ₹1.43 crore to the taxpayer while upholding blockage of earlier ...

The ITAT Rajkot ruled that a political donation made through a banking channel cannot be disallowed if the donor provides complete evidence of the payment and the recipients registration. The Tribunal ...

ITAT Chandigarh held that reopening of assessment under section 148 of the Income Tax Act merely on the basis of ‘reasons to suspect’ rather than on ‘reason to believe’ is invalid in the eye of law.

The ITAT Delhi ruled that the reassessment was invalid because the issue of setting off prior-year speculative losses was already examined in the original scrutiny assessment. The quashing relied on ...