Cash deposited during demonetization : ITAT Amritsor deleted the Addition

No penalty leviable if any inadmissible claim is made in return inadvertently and course correction is made before the Assessment order is passed : Delhi HC

Loss on Confiscation of Smuggled items by DRI officials cannot be claimed as Business Loss under Income Tax Act : Supreme Court

Union Finance Minister Smt. N. sitharaman chairs review meeting with Central Board of Indirect Taxes & Customs.

If provisions to tax was not available in the statute as on the date of entering into the agreement, the same cannot be made applicable subsequently

Madras HC quashes assessment in case where assessee was given only 13 hours to reply to SCN

SC set the principle of “burden of proof” to avail input tax credit (ITC) under the pre-GST regime.

HC can’t dismiss writ filed against Sec. 148A(d) order on ground of availability of alternative remedy: SC

No addition U/S 68 as unexplained cash credit, if the same reflected as turnover in the books of accounts: ITAT Amritsar

Know your Donor to avoid taxation as Anonymous Donation

Investment and Taxation of Senior Citizens Saving Scheme & Sukanya Samridhi Yojana

ITAT disallows Income Tax deduction on employees’ contribution to PF & ESI beyond the Due Dates

Monthly rental compensation paid during redevelopment of society is a capital receipt: ITAT

Authorities are required to grant personal hearing even if not sought by the taxpayer for adverse orders

Without Corroborating Evidence, Addition Can’t Be Made On The Basis Of A Declaration Made U/s 132(4) Of The Income Tax Act : ITAT

No Penalty leviable under section 271C on mere delay in remittance of the TDS after deducting the same

Taxability of Vouchers, Coupons, Gift Card, Prepaid Card

Assessments cannot be made U/S 153A in case no incriminating evidence is found during search