Chartered Accountant Acting as Intermediary for Raising Investment from Independent Personnel Guilty of Professional Misconduct: ICAI
The Institute of Chartered Accountants of India ruled that Chartered Accountant acting as intermediary seeking investments from independent personnel...
![Gross Profit Rate of 5% against 0.69% Made on Addition of Bogus Purchase is too High: Bombay HC Remands Matter to ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/Gross-Profit-Gross-Profit-Rate-of-5-against-0.69-Addition-of-Bogus-Purchase-Addition-of-Bogus-Purchase-is-too-High-Bombay-High-Court.jpg "Gross Profit Rate of 5% against 0.69% Made on Addition of Bogus Purchase is too High: Bombay HC Remands Matter to ITAT [Read Order]")
![Bogus E-Way Bill: Calcutta HC directs to release Tea Consignment [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Bogus-E-Way-Bill-E-Way-Bill-Bogus-Calcutta-High-Court-release-Tea-Consignment-Tea-Consignment-taxscan.jpg "Bogus E-Way Bill: Calcutta HC directs to release Tea Consignment [Read Order]")
Addition on Bogus Capital Expense based on Statement u/s 132(4) is not valid When Assessee has rebutted by Furnishing Evidence: ITAT [Read Order]
In a significant case, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that an addition on bogus capital expense based on a statement under section 132(4) of the Income Tax...
![Addition on Bogus Capital Expense based on Statement u/s 132(4) is not valid When Assessee has rebutted by Furnishing Evidence: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Bogus-Capital-Expense-Capital-Expense-Bogus-Furnishing-Evidence-Evidence-ITAT-Income-Tax-Tax-Taxscan.jpg "Addition on Bogus Capital Expense based on Statement u/s 132(4) is not valid When Assessee has rebutted by Furnishing Evidence: ITAT [Read Order]")
Exemption u/s 10 (23C) not to be Denied Unless Donation to Trusts Evidentiated as Bogus: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Mumbai Bench, has recently, in an appeal filed before it, held that the exemption u/s 10(23C) shall not be denied, unless the donation made to trusts, is...
![Exemption u/s 10 (23C) not to be Denied Unless Donation to Trusts Evidentiated as Bogus: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Donation-Trusts-Donation-to-Trusts-Bogus-ITAT-Income-tax-tax-taxscan.jpg "Exemption u/s 10 (23C) not to be Denied Unless Donation to Trusts Evidentiated as Bogus: ITAT [Read Order]")
Taxing of Bogus Purchase GP rate violates Income Tax Act,100% disallowance towards Bogus /Hawala Purchase is valid: ITAT [Read Order]
The Pune bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the Taxing of Bogus purchase GP rate violates Income Tax Act,100% disallowance towards Bogus /Hawala Purchase is valid. ...
![Taxing of Bogus Purchase GP rate violates Income Tax Act,100% disallowance towards Bogus /Hawala Purchase is valid: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Taxing-Bogus-Purchase-GP-rate-Income-Tax-Act-Income-Tax-Tax-Bogus-Hawala-Purchase-ITAT-taxscan.jpg "Taxing of Bogus Purchase GP rate violates Income Tax Act,100% disallowance towards Bogus /Hawala Purchase is valid: ITAT [Read Order]")
Trading Loss incurred cannot be held Bogus merely based on Modus Operandi unearthed from Third Party without cogent materials: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has held that trading loss incurred cannot be held bogus merely based on modus operandi unearthed from third party without cogent...
![Trading Loss incurred cannot be held Bogus merely based on Modus Operandi unearthed from Third Party without cogent materials: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Trading-Loss-Bogus-ITAT-cogent-material-taxscan.jpg "Trading Loss incurred cannot be held Bogus merely based on Modus Operandi unearthed from Third Party without cogent materials: ITAT [Read Order]")
Addition of Unexplained Credit based on bogus LTCG on Sale of Penny Stock without Cogent evidence is not valid: Delhi HC [Read Order]
The Delhi Bench High Court has held that the Addition of unexplained credit based on bogus LTCG on the sale of penny stock without cogent evidence is not valid. Karuna Garg, the appellant...
![Addition of Unexplained Credit based on bogus LTCG on Sale of Penny Stock without Cogent evidence is not valid: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Addition-of-Unexplained-Credit-Addition-Unexplained-bogus-LTCG-bogus-LTCG-Sale-of-Penny-Stock-penny-stock-Cogent-evidence-Delhi-HC-taxscan.jpg "Addition of Unexplained Credit based on bogus LTCG on Sale of Penny Stock without Cogent evidence is not valid: Delhi HC [Read Order]")
Long Term Capital Gain from Sale of Shares of Bogus Company: ITAT upholds Disallowance u/s 68 [Read Order]
While upholding the disallowance u/s 68 of the Income Tax Act, the Mumbai Bench of the Income Tax Appellate Tribunal has held that long-term capital gain from the sale of shares of the bogus company....
![Long Term Capital Gain from Sale of Shares of Bogus Company: ITAT upholds Disallowance u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Long-Term-Capital-Gain-sale-of-Shares-bogus-Company-ITAT-Disallowance-Taxscan.jpg "Long Term Capital Gain from Sale of Shares of Bogus Company: ITAT upholds Disallowance u/s 68 [Read Order]")
GST Registration cannot be Cancelled Merely for describing a Firm as ‘Bogus’: Allahabad HC [Read Order]
The Allahabad High Court has held that the GST registration cannot be cancelled merely for the reason that a firm is described as “bogus” under the provisions of the Central Goods and Services Tax...
![GST Registration cannot be Cancelled Merely for describing a Firm as ‘Bogus’: Allahabad HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/GST-Registration-Bogus-Allahabad-HC-Taxscan.jpg "GST Registration cannot be Cancelled Merely for describing a Firm as ‘Bogus’: Allahabad HC [Read Order]")