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Court News

Allahabad High Court Upholds AO’s Decision: ₹122.31 Lakh Cash Deposits Treated as Business Sales

The Allahabad High Court upheld the AO’s decision treating ₹122.31 lakh cash deposits as business sales, rejecting the Revenue’s Section 263 revision claim. The ruling highlights …

Court News

ITAT Mumbai Says Stock Write-Down Cannot Be Disallowed Without Evidence, Remands Case for Fresh Hearing

ITAT Mumbai has ruled that stock write-down disallowance under Section 37(1) is unjustified without verifying evidence. The tribunal set aside the CIT(A) order in Ador Welding Lim…