ITAT Mumbai held that the addition in respect of bogus purchases is to be limited to the extent of bringing the gross profit rate on such purchases at the same rate as of other genuine purchases.

AGRICULTURAL-BASED industrial holding firm, CFI Holdings Limited, has overturned its loss-making position to post a profit ...

ITAT Delhi held that addition under section 69A of the Income Tax Act towards cash deposited during demonetization cannot be sustained as source of cash deposited is cash sales and the same is already ...

The 'One Big Beautiful Bill Act' (OBBBA), signed by President Trump on July 4, 2025, introduces a groundbreaking change for ...

Denver Mayor Mike Johnston's office says it will offer a tax exemption for new multi-family developments this year in ...

A $30,000 mistake. When paying the IRS, a California taxpayer wrote the correct amount of $3,360 on the numerical value box ...

Instead of adopting short-term populist responses to the cost of living, Japan needs a mature and sensible approach to fiscal ...

Jen Shah, a Lexington-based certified public accountant with Dean Dorton, highlights the key tax provisions in the OBBB that ...

Queens and Long Island Rep. Tom Suozzi stood by his decision to vote against the One Big Beautiful Bill Act despite ...

Are we compassionate enough to help those most in need? Or are we on board with policies that steal from the poor and give to ...

Trump signed the legislation into law at the White House on Friday, July 4. What does the bill change about the way citizens ...

Arizona's soaring home prices are triggering surprise tax bills for longtime owners. With 11.5% already over federal capital ...