Unsecured Loan Genuine and Merely Carried Forward from Earlier Year, Not Fresh Borrowing: ITAT Deletes Rs. 2.50 Cr Income Tax Addition u/s 68 [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) allowed the appeal of the assessee, observing that the unsecured loan was carried...
![[BREAKING] MCA Extends Deadline for Annual Filings Without Additional Fees: Know the Date [Read Circular]](https://images.taxscan.in/h-upload/2025/10/18/250x150_2097594-mca-deadline-tascan-2.webp "[BREAKING] MCA Extends Deadline for Annual Filings Without Additional Fees: Know the Date [Read Circular]")
![Adverse Opinion in Statutory Audits: Reporting Paragraphs [Access Illustrative Comments Here]](https://images.taxscan.in/h-upload/2025/10/15/250x150_2096720-statutory-audit-taxscan.webp "Adverse Opinion in Statutory Audits: Reporting Paragraphs [Access Illustrative Comments Here]")
NFRA Releases Auditor-Audit Committee Interactions Series 4: Accounting Estimates, Judgements & Impairment of Non-financial Assets
The National Financial Reporting Authority (NFRA) has released Series 4 of its Auditor-Audit Committee Interactions, with this iteration focusing on accounting estimates, judgements and impairment...
No Tangible Material to Justify AO’s Profit Assessment of ₹69 Crores: ITAT Quashes Reassessment Against S.C. Johnson Pvt. Ltd. [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi, has struck down reassessment proceedings, holding that the Assessing Officer’s (AO) computation of book profits at over ₹69 crores was unsupported...
![No Tangible Material to Justify AO’s Profit Assessment of ₹69 Crores: ITAT Quashes Reassessment Against S.C. Johnson Pvt. Ltd. [Read Order]](https://images.taxscan.in/h-upload/2025/09/15/500x300_2087513-itat-delhi-sc-johnson-case-reassessment-quashed-taxscan.webp "No Tangible Material to Justify AO’s Profit Assessment of ₹69 Crores: ITAT Quashes Reassessment Against S.C. Johnson Pvt. Ltd. [Read Order]")
Pamphlets and Photos of Charity Camps Insufficient to Establish Charity: ITAT Denies S.80G Approval, Holds Trust’s Hospital Runs Commercially [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Chandigarh Bench, has dismissed the appeal of an assessee trust seeking approval under Section 80G(5)(iii) of the Income Tax Act, 1961, holding that the...
![Pamphlets and Photos of Charity Camps Insufficient to Establish Charity: ITAT Denies S.80G Approval, Holds Trust’s Hospital Runs Commercially [Read Order]](https://images.taxscan.in/h-upload/2025/08/26/500x300_2080623-charity-camps-establish-charity-itat-taxscan.webp "Pamphlets and Photos of Charity Camps Insufficient to Establish Charity: ITAT Denies S.80G Approval, Holds Trust’s Hospital Runs Commercially [Read Order]")