Delhi ITAT rules reassessment valid due to Assessee’s HC undertaking, but deletes Rs. 8.31 Cr addition, finding Revenue failed to prove raw material purchases were bogus.
ITAT Delhi dismisses Revenue appeal, holding an investor’s LTCG from stock exchange transactions as genuine, reaffirming “suspicion is not substitute for proof.”
GST 2.0 (Sept 2025) maintains 18% tax on most AMC management, advisory, and mutual fund services. Securities remain exempt. New rules require ITC reversal for inputs related to newly exempted supplies like insurance services.
The ITAT Delhi bench, in a batch of 75 appeals led by Kosi Aviation Leasing Ltd., held that lease rentals received by Irish aircraft lessors from Indian airlines constitute profits from the operation of aircraft (Article 8 of the India-Ireland DTAA), not interest income (Article 11).
ITAT Mumbai rules Section 205 protects taxpayers. TDS credit cannot be denied due to Form 26AS mismatch caused by deductor’s default or non-deposit.
ITAT quashes PCIT’s Sec 263 order; rules AO made detailed inquiry into unsecured loans, rejecting PCIT’s view that inadequacy of inquiry justifies revision.
ITAT Mumbai holds TDS credit follows income, not PAN. Credit cannot be denied due to Form 26AS mismatch if income is taxed in assessee’s hands.
The Income Tax Appellate Tribunal (ITAT), Delhi, ruled against the revenue’s additions of unaccounted capitation fees and cash loan interest under Sections 69A and 69C against the Saraswati Ammal Educational & Charitable Trust.
ITAT quashes Rs..4.52 Cr disallowance; rules foreign agent commission and warehousing charges aren’t taxable FTS in India, thus no TDS under Section 195 required.
Anuh Pharma Ltd. Vs PCIT (ITAT Mumbai) CSR Deduction u/s 80G Disputed -Cooling Tower is Not Automatically Power – ITAT Mumbai Endorses 263 Revision-Lack of Proper Inquiry Fatal – ITAT Confirms PCIT Action Against AO’s Order; ITAT Mumbai upheld revisionary order u/s 263 against assessee, holding that AO failed to conduct proper inquiry into two […]
