Tribunal deleted Rs. 10 lakh addition made under Section 68 where lender’s deposits were not independently verified. The assessee had no failure in proving identity, genuineness, or creditworthiness.

Tribunal held that penalty under Section 270A cannot survive once the Section 14A addition is deleted, especially where no exempt income was earned. The ruling reiterates that prospective amendments ...

The U.S. Supreme Court on Thursday handed Texas a win in a challenge to its new congressional redistricting maps, granting a stay of a lower court ruling blocking them from going into effect. The ...