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Latest judgements uploaded (See all)
Prakash Bhaguji Katkade v. ITO (ITAT Mumbai)
Mumbai Tribunal : S. 69A : Unexplained money-Alleged on-money paid for purchase of flat-Addition based solely on statements of builder Cosmos Group and unverified Excel sheets seized during search-No incriminating material supplied to assesse-No opportunity of cross-examination-Addition deleted. [S. 132(4), 147, 148, 254(1)] The assessee, a co-owner of a residential flat purchased from Cosmos Group, was subjected to… Read More ...
Paaneri Exim Pvt. Ltd. v. DCIT (ITAT Mumbai)
Mumbai Tribunal : S. 68 : Cash credits-Cash deposits during demonetization-Addition cannot be made merely because cash-in-hand as on 08.11.2016 was substantially higher than the preceding year when books of account were not rejected, sales were duly recorded, supported by stock records and accepted in VAT returns. Cash deposits out of recorded business receipts cannot be treated as… Read More ...
DCIT v. Sundaram Alternative Opp Series High Yield Secured Debt Fund (ITAT Chennai)
ITAT Chennai: This judgement explains the scheme of taxation of Category II Alternative Investment Funds (AIF). It held that income from interest and capital gains earned by a Category II Alternative Investment Fund (AIF) was exempt under section 10(23FBA) of the Act. An AIF could not be treated as a Venture Capital Fund (VCF) and such a… Read More ...
Latest articles published (See all)
Penalty Provisions, immunity provisions along with Decriminalization of certain Prosecution Provisions of the Income- Tax Act, 2025
Penalty Provisions, immunity provisions along with Decriminalization of certain Prosecution Provisions of the Income- Tax Act, 2025
By Dr. K. Shivaram, Senior Advocate: Bombay Chartered Accountants Society, in association with 14 other professional organisations, has arranged a “Direct Tax Home Refresher Course-7 (DTHRC)” from 25th April 2026 to 9th May, 2026. Over 1700 professionals enrolled in the lecture series, where Dr. K. Shivaram, Senior Advocate, gave a lecture on the conceptual issues of “Penalty Provisions, immunity provisions along… Read More ...
Direct Taxes – Amendments to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Act, 2015 (Black Money Act) Disclosure Scheme for Small Taxpayers & Relaxed Prosecution
Direct Taxes – Amendments to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Act, 2015 (Black Money Act) Disclosure Scheme for Small Taxpayers & Relaxed Prosecution
By Aditya Ajgaonkar & Saloni Chordia, Advocates : Amendments to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Act, 2015 (Black Money Act) Disclosure Scheme for Small Taxpayers & Relaxed Prosecution Read More ...
Direct Taxes – Penalty on misreporting/underreporting transactions of Crypto Asset
By Rupal Shrimal, Advocate: “Innovation is the ability to see change as an opportunity, not a threat.” – Steve Jobs, Founder of Apple. Read More ...