The Tribunal ruled that a creditor’s write-off alone cannot trigger section 41(1) taxation. The assessee’s liability persisted in its books, and the ₹10.23 crore addition was ...

Mumbai ITAT ruled that Section 145A is a valuation provision, not a charging mechanism, and deleted a ₹38.26 lakh MODVAT/CENVAT addition, highlighting that proper accounting and reconciliation prevent ...

The Tribunal ruled that non-filing of returns, absence of audited books, and lack of donor details defeat the claim for exemption under Section 13A. Voluntary contributions thus became taxable, though ...

The Tribunal ruled that a co-operative bank continues to be a co-operative society for the purpose of Section 80P(2)(d). Deduction was therefore allowed on interest income wrongly disallowed at the ...

The tribunal ruled rental income from administrative buildings must be taxed under house property, not other sources, emphasizing consistent treatment across years. Key deductions for standard, ...

ITAT Delhi held that compliance with the statutory hierarchy under Section 151 is jurisdictional and non-negotiable. Any deviation renders the 148A(d) order, notice under Section 148, and subsequent ...

ITAT Delhi clarified that Section 153A is not meant to reassess completed years in absence of seized evidence. The ₹6.11 lakh addition was therefore held to be without ...

The RBI’s 2025 Governance Directions overhaul board structure, management roles, and oversight mechanisms to strengthen accountability and professionalism in ...

Delhi ITAT  set aside the order of CIT(A), NFAC sustaining addition of ₹50.45 lakh towards cash deposits and restored ...

The RBI has issued comprehensive directions governing how UCBs can undertake financial services beyond core banking. The framework tightens governance, eligibility, and risk controls across ...

The RBI has issued comprehensive directions governing digital banking channels for UCBs. The rules clarify eligibility, approval requirements, and customer protection norms, effective from January 1, ...

The Tribunal admitted a gift deed filed for the first time before it, noting that the donor was no longer alive. The ₹26.36 lakh addition was remanded for verification of the deed and surrounding ...