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Annual Income Tax Case Digest: ITAT Decisions 2025 [Part III]

Ex Parte Dismissal and Bogus Purchases Addition: ITAT Remands Matter to CIT(A) Hari KrushnaMachintech vs The Deputy Commissioner of Income Tax...

CBDT Targets Bogus Deduction claims, Selected Taxpayers to get SMS and E-mails

CSR Funds Not Spent Within Prescribed Time: MCA Penalises Pace Digitek u/s 135(7) of Companies Act

CSR Donations Eligibility for Section 80G Deduction: ITAT Quashes PCIT Revision Order in Hapag Lloyd...

Mistakes to Avoid in Preparation of Board’s Report: A Guide for CS Professionals

Kerala Man Scams ₹20 Crore in Fake CSR Fund Scheme for Half-Priced Scooters

A 26-year-old man has been arrested in Kerala for cheating people of over Rs. 20 crore by falsely claiming he could provide scooters, sewing machines, and home appliances at half price using...

Applicability of S.68 to CSR Funds: ITAT Rules Addition Unjustified as Identity and Genuineness Proven [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) ruled that Section 68 of Income Tax Act,1961 did not apply to Corporate Social Responsibility (CSR) funds received by the assessee and...

Availment of Blocked Input Tax Credit on CSR Expenses before 01.10.2023: How to Reply to GST SCN [Find Draft Format Here]

The controversy around the availment of Input Tax Credit ( ITC ) on Corporate Social Responsibility ( CSR ) expenses under the Goods and Services Tax ( GST ) regime has been an ongoing issue for many...

Companies (Accounts) Rules Amended: MCA mandates Separate CSR-2 Filing After AOC-4 or AOC-4-NBFC by Dec 31, 2024 [Read Notification]

The Ministry of Corporate Affairs (MCA) has amended the Companies (Accounts) Rules, 2014, through the Companies (Accounts) Amendment Rules, 2024. These amendments mandate that for the financial year...

Companies Accounts Rules Amended - MCA - CSR-2 Filing - AOC-4 - AOC-4-NBFC - TAXSCAN

Expense on Business Promotion under The Income Tax Act,1961

Introduction The Income Tax Act, 1961, governs the tax liabilities of individuals and businesses in India. Promotion expenses play a very important and crucial role in driving growth and...

Relief to Ramco Cements: Madras HC Allows to Contest GST Orders of Multiple Issues Including Taxability of Second Hand Vehicles' Sale [Read Order]

The Madras High Court allowed the prominent Cement company Ramco Cements against the GST orders issued on multiple issues including the taxability of the sale of second hand or old vehicles. M/s....

Can CSR Expenses Claimed for Deduction under Section 80G of Income Tax Act?

Under the Indian Income Tax Act, Corporate Social Responsibility ( CSR ) expenses are generally not allowed as a business deduction. This policy is rooted in Section 37(1) of the Income Tax Act,...