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₹4.81L Housing Loan Repayment Treated as Unexplained u/s 69C: ITAT Remands Matter to AO for Reassessment After Reviewing Assessee’s Evidence [Read Order]

Sandhra Suresh

The Panaji Bench of the Income Tax Appellate Tribunal (ITAT) remanded the matter to the Assessing Officer (AO), as the Assessing Officer had treated...

Delay in Loan Restructuring Proceedings: DRAT directs DRT to decide OA Expeditiously [Read Order]

Loan Prepayment Charges Not Admissible for CENVAT Credit: CESTAT [Read Order]

Pending NCLT Proceedings Does Not bar Arbitration Application if underlying dispute is Arbitrable:...

Bank Passbook Evidence Validates Loan Transaction: ITAT deletes Addition u/s 68, Remands Interest...

Failure to Pay Pro-rata amount against each loan towards Federal Bank due to Negligence: DRAT Directs to pay Amount with interest [Read Order]

The Debt Recovery Appellate Tribunal (DRAT) Chennai directed the appellant to pay a sum of Rs.9.03 lakhs each with interest at 6% p.a. (simple) from the date of the order of the OA 1717/1998, ...

ICAI Certificate Issuance Checklist for CAs: Everything You Need

Have you ever found yourself unsure about how much detail is required when issuing a certificate for a client? Or questioned what your exact responsibilities are when signing off on a...

NCLAT Clears ICICI Bank of Wrongdoing: Reverses NCLT Order Directing Refund of Loan Payment Received During Moratorium [Read Order]

The National Company Law Appellate Tribunal (NCLAT) has set aside an NCLT order that had directed ICICI Bank to return ₹8.92 lakh received in a loan account after commencement of CIRP. The Tribunal...

National Herald Case: ED Alleges Rahul, Sonia Gandhi Acquired ₹2,000 Cr Assets for ₹50 Lakh

The Enforcement Directorate (ED) has told a Delhi court that Congress leaders Rahul Gandhi and Sonia Gandhi took control of properties worth Rs. 2,000 crore by paying only Rs. 50 lakh in the...

Know Your Rights: What Loan Recovery Agents Can and Cannot Do at Your Doorstep

In India’s rapidly expanding credit market, personal and business loans have become a lifeline for millions. However, with the rise in borrowing comes the inevitable challenge of defaults and the...

Invoking S. 263 on Interest on Loan Disallowance While such Loan Addition Pending Before CIT(A) Invalid: ITAT [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that a Principal Commissioner of Income Tax ( PCIT ) cannot invoke revisionary jurisdiction under Section 263 to disallow...

Setback for Electrotherm: PMLA Authority Upholds ED’s Asset Retention in Loan Fraud Case; Company Discloses Financial Impact [Read Order]

Electrotherm (India) Ltd., a listed company headquartered in Ahmedabad, has suffered a major setback after the Adjudicating Authority under the Prevention of Money Laundering Act (PMLA), New Delhi,...