Expenditure Archives

Highlights of Interim Budget 2024; Fiscal deficit in 2024-25 estimated to be 5.1 per cent of GDP: Finance Minister

The interim budget 2024 contained strategies indicating approach for making India Viksit Bharat by 2047. No changes proposed in indirect and direct taxes.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Can revenue bring expenditure incurred in earlier years to be taxed in subsequent years? ITAT answers

After examining the expenses payable and the detailed order of the CIT,the ITAT held that the CIT has correctly examined the invoices, period and purpose for the expenses which have not been paid for the last six years

Case Briefs High Courts

Whether the assessee is entitled to claim the difference between the market price and the allotment price of shares, as an expenditure under Section 37 of IT Act? Delhi High Court analyses

Delhi High Court: On a question of law before the Court that whether the Income Tax Appellate Tribunal (‘ITAT’) erred in law

Case Briefs Tribunals/Commissions/Regulatory Bodies

Whether a typographical error in mentioning a bank account number can have adverse impact on income tax assessment? ITAT deliberates

Income Tax Appellate Tribunal (ITAT), Visakhapatnam: While deciding the instant appeal by the Revenue against the Order by CIT (A) deleting the

Case Briefs High Courts

Delhi HC decides that Father’s obligation to maintain a child cannot end once he/she turns 18 years of age. Read why

Delhi High Court: Subramonium Prasad, J., while allowing in part the revision petition filed challenging the Family Court’s maintenance order made a