![ITAT Allows Deduction of Bad Debts, Holding Write-Off in Books as Sufficient Compliance u/s 36(1)(vii) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-ITAT-Ahmedabad-TAXSCAN.jpg "ITAT Allows Deduction of Bad Debts, Holding Write-Off in Books as Sufficient Compliance u/s 36(1)(vii) [Read Order]")
ITAT Allows Deduction of Bad Debts, Holding Write-Off in Books as Sufficient Compliance u/s 36(1)(vii) [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the deduction of bad debts stating that written off in the books of accounts...
GST ITC on Leasing Building for Schools: Madhya Pradesh HC Directs to file Appeal relying Safari Retreats Case [Read Order]
With regards to an issue of availing Input Tax Credit ( ITC ) under Goods and Services Tax ( GST ) on leasing the building for the schools, the Madhya Pradesh High Court directed file appeal before...
![GST ITC on Leasing Building for Schools: Madhya Pradesh HC Directs to file Appeal relying Safari Retreats Case [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/GST-Goods-and-Services-Tax-ITC-Input-Tax-Credit-GST-and-ITC-TAXSCAN.jpg "GST ITC on Leasing Building for Schools: Madhya Pradesh HC Directs to file Appeal relying Safari Retreats Case [Read Order]")
GST Recovery and Hearing Notices ignored: Madras HC orders 25% Pre-Deposit from Cash Ledger for Fresh Consideration [Read Order]
In a matter of ignorance of the Goods and Services Tax ( GST ) recovery notices and the hearing notices, the Madras High Court has ordered the pre-deposit of 25% from the Electronic Cash Ledger ( ECL...
![GST Recovery and Hearing Notices ignored: Madras HC orders 25% Pre-Deposit from Cash Ledger for Fresh Consideration [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/GST-Goods-and-Services-Tax-pre-deposit-Madras-HC-Electronic-Cash-Ledger-TAXSCAN.jpg "GST Recovery and Hearing Notices ignored: Madras HC orders 25% Pre-Deposit from Cash Ledger for Fresh Consideration [Read Order]")
Auditor's Incorrect Reporting of Income Already Credited to P&L Account Leads to ₹54,17,992 Addition: ITAT Orders Reassessment [Read Order]
The Allahabad Bench of Income Tax Appellate Tribunal ( ITAT ) ordered reassessment for the matter concerning the addition of Rs. 54,17,992 due to the Auditor’s misreporting of income which was...
![Auditors Incorrect Reporting of Income Already Credited to P&L Account Leads to ₹54,17,992 Addition: ITAT Orders Reassessment [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Incorrect-Reporting-of-Income-P-and-L-Account-ITAT-Reassessment-Income-Tax-Taxscan.jpg "Auditors Incorrect Reporting of Income Already Credited to P&L Account Leads to ₹54,17,992 Addition: ITAT Orders Reassessment [Read Order]")
Unsold Flats held as Stock-in-Trade should be Treated as Business Stock, Not Income from House Property: ITAT on Palm Grove's Matter [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) ruled in favor of Palm Grove Beach Hotels Pvt. Ltd. that unsold flats held as stock-in-trade should be treated as business stock, not income...
![Unsold Flats held as Stock-in-Trade should be Treated as Business Stock, Not Income from House Property: ITAT on Palm Groves Matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-Stock-in-Trade-Income-from-House-Property-Unsold-flats-not-house-property-taxscan.jpeg "Unsold Flats held as Stock-in-Trade should be Treated as Business Stock, Not Income from House Property: ITAT on Palm Groves Matter [Read Order]")
ITAT Restores Appeal to CIT(A) for Fresh Consideration, Citing COVID-19 Impact on Limitation Periods [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) restored the appeal of the assessee to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh consideration, emphasizing the impact of...
![ITAT Restores Appeal to CIT(A) for Fresh Consideration, Citing COVID-19 Impact on Limitation Periods [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Mumbai-COVID-19-COVID-19-pandemic-COVID-19-Impact-ITAT-Restores-Appeal-Taxscan.jpg "ITAT Restores Appeal to CIT(A) for Fresh Consideration, Citing COVID-19 Impact on Limitation Periods [Read Order]")
ICAI issues SOP for Police, Law Enforcement Agencies regarding Detention, Arrest, Interrogation, Investigation and Seizure against Chartered Accountants
The Institute of Chartered Accountants of India ( ICAI ) has issued a Standard Operating Procedure ( SOP ) to be followed by police and other law enforcement agencies regarding the investigation,...
Royalty imposed on Advertisement Hoardings by Municipal Corporations not Tax: Supreme Court [Read Judgement]
The Supreme Court has held that the "royalty" charged by municipal corporations to advertising companies for installing hoardings and advertisements cannot be classified as a "tax." On August 29,...
