The principle of fiduciary duty has its basis in the theory of good faith. Between two individuals, one must safeguard the ...

TDS concept: TDS stand for Tax Deducted at Source. It is an amount deducted by the payer at the time of payment such as ...

ITAT Rajkot held that the reassessment notice under section 148 of the Income Tax Act has been issued without obtaining the ...

Assessing Responsibility of Independent Directors Review of V. Selvaraj v. Reserve Bank of India (2020) Overview A director ...

ITAT Hyderabad held that addition towards unexplained cash credit u/s. 68 unsustainable since AO cannot assume that sales were fictitious sales just because the sales are high in the period of ...

ITAT Delhi held that disallowance of share premium under section 56 (2) (viib) of the Income Tax Act not sustainable since shares are allotted to an existing shareholder and hence creditworthiness ...

ITAT Kolkata held that CIT (A) accepted additional evidence and allowed the relief u/s. 10 (26AAA) of the Income Tax Act without allowing an opportunity of being heard to AO. Therefore, the order of ...

ITAT Jaipur held that without considering the merits of the dispute and without verifying the veracity of the documents, the documents signed by third party cannot be directly held to be colorable ...

ITAT Ahmedabad held that weighted deduction under section 35 (1) (ii) of the Income Tax Act rightly disallowed as donation is given to Arvindo Institute of Applied Scientific Research Trust who ...

Consequently, the Allahabad High Court concluded that the impugned order dated November 18, 2023, could not be sustained due to the clear violation of Section 75 (7) of the Act. The writ petition ...

Allahabad High Court has set aside a Goods and Services Tax (GST) demand order issued against M/s Priya Enterprises for the period of April 2020 to March 2021. The Court’s ruling, delivered on ...

The Tribunal pointed out that the AO is vested with sufficient legal powers to enforce the attendance of summoned parties. Therefore, the ITAT concluded that it was incorrect for the AO to attribute ...