It was ruled that speculative losses from non-genuine share transactions cannot be adjusted against interest income. The decision reinforces strict application of sections 43(5) and 73 where delivery ...

The Tribunal held that interest earned by a credit co-operative society from deposits with co-operative banks is deductible under section 80P(2)(d). The ruling follows settled law that such societies ...

Exemption was curtailed because the auditor reported application from past accumulations. The Tribunal ruled CPC acted correctly but allowed reassessment based on corrected Form ...

The ruling clarifies that specified sum under section 269SS refers to advances linked to property transfers. Cash received as final consideration at registration cannot trigger penalty under section ...

Where compensation and interest are deposited under judicial custody due to a pending appeal, no real income accrues. The Tribunal ruled that taxing such MACT interest is impermissible until actual ...

The issue was confirmation of penalty without reasons. The Tribunal held that a non-speaking appellate order violates law and remanded the matter for fresh ...

The tribunal rejected demand raised solely due to Form 26AS mismatch caused by employer non-deposit of TDS. The key principle is that employees cannot be penalised for failures beyond their ...

It was held that transport charges cannot be disallowed when PAN-based TDS, ledger matching, and banking trails exist. The ruling confirms that non-response to notices alone is ...

The Tribunal ruled that minor delay in filing Form 10AB cannot justify rejection when law permits condonation. Commissioners must examine reasonable cause instead of dismissing applications on ...

The issue was whether a second reassessment could be initiated on the same facts already examined earlier. The Tribunal held that reopening based on a mere change of opinion is invalid and quashed the ...

ICAI has mandated a digital E-Diary for CA students starting articleship from January 2026. The move standardises training records, improves transparency, and enables real-time monitoring by ...

The Tribunal held that section 69C cannot be invoked when expenditure is recorded in books and its source is not in doubt, even if part of the claim is ...