April 1, 2026 : The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that reassessment proceedings cannot be initiated merely on the basis of general investigation reports relating to penny stock transactions, without any material directly linking Read more…
March 18, 2026 : The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that transactions duly recorded in the regular books of account and supported by banking evidence cannot be treated as bogus expenditure merely on the Read more…
February 24, 2026 : The Mumbai Bench of the Income Tax Appellate Tribunal has held that even if purchase transactions are found to be accommodation entries, the entire purchase amount cannot be treated as unexplained expenditure under Section 69C of Read more…
January 13, 2026 : The Chandigarh Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the assessment framed against M/s Malbros International Pvt. Ltd. for Assessment Year 2022–23, holding that the Assessing Officer committed a fundamental jurisdictional error by Read more…