Tag: NFAC

ITAT Mumbai remands Aspri Spirits tax dispute over Rule 46A violation and additional evidence issue.

Team Law Notify Commissions, Forums & Tribunals May 20, 2026

ITAT _ Income Tax Appellate Tribunal _ LawNotify

May 19, 2026 : The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has set aside a major appellate relief granted to liquor distributor Aspri Spirits Private Limited after finding that the Commissioner of Income Tax (Appeals) relied heavily Read more…

ITAT Bangalore: Section 68 Additions Fail Without Books of Account, Bank Deposits to Be Treated as Business Receipts

Team Law Notify Commissions, Forums & Tribunals November 25, 2025

November 25, 2025 : The Bangalore Bench of the Income Tax Appellate Tribunal has ruled that additions under Section 68 of the Income Tax Act, 1961 cannot be sustained where the assessee does not maintain books of account. The Tribunal Read more…