![[BREAKING] New Income Tax Bill receives President’s Assent, Act will officially come into force from This Date](https://images.taxscan.in/h-upload/2025/08/21/500x300_2079073-income-tax-bill-income-tax-bill-2025-taxscan.webp "[BREAKING] New Income Tax Bill receives President’s Assent, Act will officially come into force from This Date")
[BREAKING] New Income Tax Bill receives President’s Assent, Act will officially come into force from This Date
The Income-Tax Bill, 2025, received the President’s assent on August 21, 2025, marking a significant overhaul in India’s direct tax regime. With...
![ITAT Deletes IGST Refund Addition Holding Refundable Advance Not Taxable u/s 43B [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/250x150_2079028-itat-igst-refundable-taxscan.webp "ITAT Deletes IGST Refund Addition Holding Refundable Advance Not Taxable u/s 43B [Read Order]")
![Commercial Tax Dept is Secured Creditor under IBC: Madras HC Directs Auction Purchaser to Recover Purchase Price from CD and Remit for VAT Dues [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/250x150_2079014-commercial-tax-dept-secured-creditor-ibc-madras-hc-auction-taxscan.webp "Commercial Tax Dept is Secured Creditor under IBC: Madras HC Directs Auction Purchaser to Recover Purchase Price from CD and Remit for VAT Dues [Read Order]")
![ITAT Sets Aside Additions on ₹1.46 Cr Demonetisation Cash Deposits and Derivative Losses, Remands for Fresh Adjudication [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/250x150_2078903-itat-demonetisation-cash-deposits-derivative-losses-fresh-adjudication-taxscan.webp "ITAT Sets Aside Additions on ₹1.46 Cr Demonetisation Cash Deposits and Derivative Losses, Remands for Fresh Adjudication [Read Order]")
![Chit Fund Companys Appeal Dismissed: ITAT Upholds 90% Disallowance for Lack of Evidence on Commission Payments [Read Order]](https://images.taxscan.in/h-upload/2025/08/20/250x150_2078706-itat-lack-of-evidence-taxscan.webp "Chit Fund Companys Appeal Dismissed: ITAT Upholds 90% Disallowance for Lack of Evidence on Commission Payments [Read Order]")
Malad Chamber of Tax Consultants seeks Extension of Due Dates for Filing of ITR and Audit Reports for AY 2025-26, submits representation to FM
The Malad Chamber of Tax Consultants (MCTC), a prominent association of tax professionals, has urged the Union Finance Ministry and the Central Board of Direct Taxes (CBDT) to extend the due dates...
ITAT Deletes Disallowances of Public Relations, Shared Services, and Product Registration of BASF India, Citing No Change in Facts or Law [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal by revenue regarding the disallowances of ₹55,00,000 on Public Relations expenses, Shared Service (Malaysia), and...
![ITAT Deletes Disallowances of Public Relations, Shared Services, and Product Registration of BASF India, Citing No Change in Facts or Law [Read Order]](https://images.taxscan.in/h-upload/2025/08/21/500x300_2078887-itat-shared-services-product-basf-taxscan.webp "ITAT Deletes Disallowances of Public Relations, Shared Services, and Product Registration of BASF India, Citing No Change in Facts or Law [Read Order]")
DGFT announces Exemption of Imports under DIA from Duties, CA Certificate Permitted in Lieu of Latest ITR [Read Notification]
The Directorate General of Foreign Trade ( DGFT ) has announced exemption of imports under the Diamond Import Authorisation (DIA) from the levy of multiple duties including Customs, Anti-dumping,...
![DGFT announces Exemption of Imports under DIA from Duties, CA Certificate Permitted in Lieu of Latest ITR [Read Notification]](https://images.taxscan.in/h-upload/2025/08/21/500x300_2078916-dgft-exemption-import-taxscan.webp "DGFT announces Exemption of Imports under DIA from Duties, CA Certificate Permitted in Lieu of Latest ITR [Read Notification]")
Not Business Income, But Still Deductible; ITAT Sides with Kerala Co-op Bank, Quashes Tax Demand [Read Order]
The Income Tax Appellate Tribunal (ITAT), Cochin Bench has quashed a tax demand levied on a primary agricultural credit co-operative society, holding that interest income it earned from a district...
![Not Business Income, But Still Deductible; ITAT Sides with Kerala Co-op Bank, Quashes Tax Demand [Read Order]](https://images.taxscan.in/h-upload/2025/08/20/500x300_2078718-tax-demand-taxscan.webp "Not Business Income, But Still Deductible; ITAT Sides with Kerala Co-op Bank, Quashes Tax Demand [Read Order]")
KSEB is "State": ITAT Rules Cash Payments to Govt. utilities Fall u/s 40A(3) Exception, Deletes Disallowance [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Cochin Bench has deleted a disallowance made against a business for paying its electricity bill in cash. The tribunal ruled that the Kerala State ...
![KSEB is State: ITAT Rules Cash Payments to Govt. utilities Fall u/s 40A(3) Exception, Deletes Disallowance [Read Order]](https://images.taxscan.in/h-upload/2025/08/20/500x300_2078704-kseb-itat-exception-deletes-disallowance-taxscan.webp "KSEB is State: ITAT Rules Cash Payments to Govt. utilities Fall u/s 40A(3) Exception, Deletes Disallowance [Read Order]")
ITAT Rebukes CIT(A) for "Lazy" Dismissal, Orders Fresh Hearing on Demonetization Cash Deposits [rEad Order]
In a sharp critique of appellate procedure, the Income Tax Appellate Tribunal (ITAT), Cochin Bench has set aside an order that dismissed a taxpayer’s appeal without examining the merits of a...
![ITAT Rebukes CIT(A) for Lazy Dismissal, Orders Fresh Hearing on Demonetization Cash Deposits [rEad Order]](https://images.taxscan.in/h-upload/2025/08/20/500x300_2078698-cash-deposit-taxscan.webp "ITAT Rebukes CIT(A) for Lazy Dismissal, Orders Fresh Hearing on Demonetization Cash Deposits [rEad Order]")
‘Act of God’ Beats ‘Act of Law’: ITAT Cites Kerala Floods as Valid Reason for Belated ITR, Kozhikode Co-op Society Wins 80P Deduction [Read Order]
In a ruling that prioritizes empathy over rigid procedural compliance, the Income Tax Appellate Tribunal ( ITAT ), Cochin Bench has allowed a co-operative society to claim an important tax deduction...
![‘Act of God’ Beats ‘Act of Law’: ITAT Cites Kerala Floods as Valid Reason for Belated ITR, Kozhikode Co-op Society Wins 80P Deduction [Read Order]](https://images.taxscan.in/h-upload/2025/08/20/500x300_2078692-itat-belated-itr-kozhikode-co-op-society-80p-deduction-taxscan.webp "‘Act of God’ Beats ‘Act of Law’: ITAT Cites Kerala Floods as Valid Reason for Belated ITR, Kozhikode Co-op Society Wins 80P Deduction [Read Order]")