Interpretation of exemption notifications under Indian tax legislation has always been at the forefront of debates. A tax law ...

ITAT Ahmedabad held that non-compliance to notices issued u/s. 250 by CIT (A) resulted into delayed appellate proceedings. Accordingly, cost of Rs. 5,000 imposed on the assessee for lack of diligence.

In the case of Karunakaran Leela vs. ITO, the ITAT Chennai reviewed the addition of ₹36.50 lakh made under Section 68 of the Income Tax Act for unexplained cash credits linked to unsecured loans. The ...