![RBI FEMA Amendment: Bhutan, Nepal & Sri Lanka Entities can now Borrow from Indian Authorised Dealer Banks [Read Notification]](https://images.taxscan.in/h-upload/2025/10/10/500x300_2095463-flag.webp "RBI FEMA Amendment: Bhutan, Nepal & Sri Lanka Entities can now Borrow from Indian Authorised Dealer Banks [Read Notification]")
RBI FEMA Amendment: Bhutan, Nepal & Sri Lanka Entities can now Borrow from Indian Authorised Dealer Banks [Read Notification]
The Reserve Bank ofIndia (RBI) has promulgated the Foreign Exchange Management (Borrowing and Lending) (Amendment) Regulations, 2025 enabling...
![Huge Cash Sale in a Particular Month cannot be a reason for treating it as Undisclosed Income: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/10/10/250x150_2095429-itat-delhi-huge-cash-sale-undisclosed-income-taxscan.webp "Huge Cash Sale in a Particular Month cannot be a reason for treating it as Undisclosed Income: ITAT [Read Order]")
![Income Tax Reassessment Notice u/s 148 against Dead Person is Null and Void: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/10/10/250x150_2095440-income-tax-reassessment-dead-itat-taxscan.webp "Income Tax Reassessment Notice u/s 148 against Dead Person is Null and Void: ITAT [Read Order]")
Protective Addition Made for Taxpayer Firm: ITAT Restores Matter to CIT(A) with One More Opportunity [Read Order]
The Visakhapatnam Bench of the Income Tax Appellate Tribunal (ITAT) restored the appeal to the Commissioner of Income Tax (Appeals)[CIT(A)] with one more opportunity to the assessee citing that the ...
![Protective Addition Made for Taxpayer Firm: ITAT Restores Matter to CIT(A) with One More Opportunity [Read Order]](https://images.taxscan.in/h-upload/2025/10/10/500x300_2095414-addition-itat-taxscan.webp "Protective Addition Made for Taxpayer Firm: ITAT Restores Matter to CIT(A) with One More Opportunity [Read Order]")
Subscription and Redemption of Mutual Fund Units amounts to Sale: AAAR on Zydus Lifesciences Ltd.’s Appeal [Read Order]
The bench of the Appellate Authority for Advance Ruling (AAAR), Ahmedabad, Gujarat (GAAAR) applying the common parlance test to held that the subscription and redemption of mutual fund units amount...
![Subscription and Redemption of Mutual Fund Units amounts to Sale: AAAR on Zydus Lifesciences Ltd.’s Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/10/10/500x300_2095419-rajasthan-appellate-authority-supplier-of-goods-or-services-aar-dismissed-the-application-of-advance-ruling-taxscan.webp "Subscription and Redemption of Mutual Fund Units amounts to Sale: AAAR on Zydus Lifesciences Ltd.’s Appeal [Read Order]")
CIT(E) Cannot Reject 12AB & 80G Income Tax Exemption Applications without Considering Compliance Documents: ITAT [Read Order]
The Ahmedabad Benchof the Income Tax Appellate Tribunal in a recent case held that the Commissioner of Income Tax (Exemption) had erred in rejecting renewal applications under Section...
![CIT(E) Cannot Reject 12AB & 80G Income Tax Exemption Applications without Considering Compliance Documents: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/10/10/500x300_2095415-income-tax-exemption-rejection.webp "CIT(E) Cannot Reject 12AB & 80G Income Tax Exemption Applications without Considering Compliance Documents: ITAT [Read Order]")
Income Surrendered during Survey Treated as Business Income, Not Unexplained Investment: ITAT Deletes Higher Tax u/s 115BBE [Read Order]
The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted higher tax imposed on an assessee, affirming that income voluntarily surrendered during a survey constitutes business...
![Income Surrendered during Survey Treated as Business Income, Not Unexplained Investment: ITAT Deletes Higher Tax u/s 115BBE [Read Order]](https://images.taxscan.in/h-upload/2025/10/10/500x300_2095412-itat-business-income-additional-income-taxscan.webp "Income Surrendered during Survey Treated as Business Income, Not Unexplained Investment: ITAT Deletes Higher Tax u/s 115BBE [Read Order]")
Karnataka HC Deletes ₹25 Lakh Gross Profit Addition, Ruling Estimate Lacked Basis Despite 95% Sales to Sister Concern [Read Order]
The High Court of Karnataka, deleted the ₹25 lakh addition made towards gross profit, holding that the estimation lacked any rational basis despite 95% of sales being to a sister concern. ...
![Karnataka HC Deletes ₹25 Lakh Gross Profit Addition, Ruling Estimate Lacked Basis Despite 95% Sales to Sister Concern [Read Order]](https://images.taxscan.in/h-upload/2025/10/10/500x300_2095408-karnataka-hc-ruling-estimate-lacked-taxscan.webp "Karnataka HC Deletes ₹25 Lakh Gross Profit Addition, Ruling Estimate Lacked Basis Despite 95% Sales to Sister Concern [Read Order]")
Section 80P(4) of Income Tax Act bars S.80P(2)(d) deduction for Co-operative Bank Investments: Karnataka HC [Read Order]
The High Court of Karnataka held that Section 80P(4) of the Income Tax Act,1961 barred deduction under Section 80P(2)(d) for interest earned from investments in Co-operative Banks. Judicial...
![Section 80P(4) of Income Tax Act bars S.80P(2)(d) deduction for Co-operative Bank Investments: Karnataka HC [Read Order]](https://images.taxscan.in/h-upload/2025/10/10/500x300_2095399-income-tax-act.webp "Section 80P(4) of Income Tax Act bars S.80P(2)(d) deduction for Co-operative Bank Investments: Karnataka HC [Read Order]")
Reassessment on Demonetization Cash Deposits already Examined in Original Assessment Held Void ab Initio: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that reconsideration of demonetisation period cash deposits already examined in the original assessment during the reassessment is ...
![Reassessment on Demonetization Cash Deposits already Examined in Original Assessment Held Void ab Initio: ITAT [Read Order]](https://images.taxscan.in/h-upload/2025/10/10/500x300_2095383-cash-deposit-demonetization-itat-addition-cbdt-guidelines-taxscan.webp "Reassessment on Demonetization Cash Deposits already Examined in Original Assessment Held Void ab Initio: ITAT [Read Order]")