Interest
Direct Tax
Bank Deposits Can’t Be Treated as Unexplained Income When Linked to Business Turnover; Profit Estimation Must Follow Past History: ITAT
The Lucknow Bench of the Income Tax Appellate Tribunal (ITAT) has held that bank...
Direct Tax
Refund of Loan Can’t Be Treated as Unexplained Cash Credit; Additions Based Solely on Statements Without Evidence Not Sustainable: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the Revenue’s...
Columns
Interest on Income Tax Refund – 2025
The Indian Income Tax Department pays interest on income tax refunds at the rate...
GST
Interest, Penalty Recovered by Chit Foreman Not Exigible To GST: AP HC
The Andhra Pradesh High Court has held that the interest and penalty recovered by...
Direct Tax
Interest on FD, Tax Refunds Linked to Operational Obligations Qualifies for S. 80IA Deduction: Bombay HC
The Bombay High Court has held that interest earned on fixed deposits and tax...
GST
Gujarat HC Quashes Interest, Penalty in GST Transitional Credit Dispute
The Gujarat High Court has quashed the interest and penalty in the GST transitional...
Other Laws
Interest Payable On Refund Of Amount On E-Stamp Paper: Supreme Court
The Supreme Court has held that there is no statutory provision required for interest...
Indirect Taxes
Interest To Be Calculated Of Duty Short-Paid From Succeeding Month On Which Duty Was Payable: CESTAT
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Bangalore Bench has held that...
Direct Tax
Income Tax Deduction Allowable On Interest Income Earned From Deposits With Co-operative Banks: ITAT
The Income Tax Appellate Tribunal Ahmedabad ruled that the Income Tax deduction is allowable...
Latest articles
Direct Tax
Bank Deposits Can’t Be Treated as Unexplained Income When Linked to Business Turnover; Profit Estimation Must Follow Past History: ITAT
The Lucknow Bench of the Income Tax Appellate Tribunal (ITAT) has held that bank...
Direct Tax
Refund of Loan Can’t Be Treated as Unexplained Cash Credit; Additions Based Solely on Statements Without Evidence Not Sustainable: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the Revenue’s...
Direct Tax
ITAT Upholds Allowability of Advertisement Reimbursement and JV-Linked Expenses; Allows Proportionate Retainership Fees
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) addressed multiple contentious issues...
Direct Tax
Under-Construction Property Qualifies as ‘Construction’: ITAT Allows S. 54F Deduction
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that investment...