Given the assessee’s admission of incorrect turnover and failure to get accounts audited, the Tribunal found income estimation justified. However, finding that the AO’s 4% rate was slightly high and ...
The Tribunal allowed the assessee’s appeal for re-examination of a section 36(1)(va) addition due to inadvertent error in the original audit report. The matter was restored to the AO to pass a ...
Employees who attempt to cheat the system with bogus tax deductions risk facing severe repercussions. The Income-Tax ...
Preliminary investigations have revealed that the university earned close to Rs 415 crore within a span of just seven years. Beyond this, it has also been discovered that the university operated ...
The Enforcement Directorate (ED) has alleged that the Haryana-based Al-Falah University and Al-Falah Charitable Trust ...
The ITAT Bangalore ruled in favor of Mr. Kanana, a landowner, upholding his affidavits and dismissing a tax notice influenced by online articles. The tribunal found the tax officer failed to disprove ...
As investors gear up for the next premature redemption window of the Sovereign Gold Bond (SGB) 2019-20 Series-VI, the Reserve Bank of India (RBI) has announced the redemption price for this tranche.
Sometimes, transactions are delayed due to technical reasons. If you filed your Income Tax Return (ITR) on time and the status shows 'Processed', but the refund hasn't yet been credited to your bank ...
The Central Board of Direct Taxes (CBDT) recently extended the due date for filing tax audit reports by a month to October 31, following orders from two high courts – Rajasthan and Karnataka – of the ...
The deadline for Income Tax Return (ITR filing) for Assessment Year (AY) 2025-26 was extended twice this year. Earlier in May, the due date was extended by 46 days till September 15. After this, ...
The CBDT had extended the ITR filing deadline for individual taxpayers to September 16, 2025. Filing after this date incurs penalties, potentially up to Rs 5,000, and affects carry-forward benefits.
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