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ICAI Tightens UDIN Rules: Field-Level Validation Live, 60 Tax Audit Cap per Partner from April 1, 2026

The Institute of Chartered Accountants of India (ICAI) has tightened rules for UDIN (unique document identification number) generation in tax...

PCIT Must Explain How Income Tax Assessment Order is Erroneous u/s 263: ITAT Allows Appeal [Read...

NCLAT Rejects Contempt Plea citing Two-Year Delay, Liquidation Proceedings Remain Ongoing [Read...

SC Stays Enforcement of Substantial Tax Demand, Bars Coercive Recovery Against Fantasy Gaming...

Disallowed Payments due to Inconsistency in Statements and Transactions Held Unreasonable as per...

Unsecured Loans’ Creditworthiness confirmed through PAN, ITR and Confirmations Sufficient: ITAT deletes S. 68 Addition [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that unsecured loans cannot be treated as unexplained cash credits under Section 68 where the assessee establishes...

Consolidated Satisfaction is Improper Satisfaction, Lack Merit: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), New Delhi bench, broadly held that consolidated satisfaction during the assessment proceedings amounts to improper satisfaction as it lacks merit and proper...

Mutual Cooperative Society May Accept Deposits and Lend Loans to its Own Members: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, held that mutual cooperative societies may accept deposits and lend loans to its own members. The assessee in the present case filed an...

Double Addition/Double Disallowance in Income Tax Assessment: ITAT Considers Doctrine of Merger Applicable [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, heard a case in which double addition and double disallowance was done in the assessment proceedings. The tribunal held that the doctrine of ...

Refund of GST Paid Twice Cannot Be Denied on Ground of Limitation: Orissa HC [Read Order]

In a recent ruling, the Orissa High Court held that refund of GST paid twice cannot be denied only on the ground of limitation because the State cannot keep tax which is not legally due under Article...

Electricity Consumption alone Cannot Establish Suppressed Manufacture: CESTAT Rejects Excise Demand on Scented Supari [Read Order]

The New Delhi Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has held that the consumption of electricity cannot form the sole basis for making an allegation of...

ITAT Grants S. 50C Proviso relief where Advance Received by Cheque Before Sale Deed Registration [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal ( ITAT ) held that where part of the sale consideration was received through bank account or electronic mode at the time of agreement to sell,...

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