The Kolkata ITAT quashes a reassessment notice issued under Section 148, citing it was time-barred. The decision clarifies the application of TOLA and the new reassessment regime.
ITAT Ahmedabad ruled on Unimed Technologies’ software license and renewal expenses, classifying them as revenue. The tribunal also addressed interest expenditure disallowance.
Supreme Court rules common management entities can be clubbed for PF liability, rejecting separate entity claims to prevent evasion of beneficial legislation.
Supreme Court rules umbilical cord stem cell banking is a healthcare service, exempt from tax. Clarifies extended limitation period requires intent to evade.
Gujarat High Court quashes Income Tax Act Section 148 notices for AY 2015-16, citing Supreme Court precedents on time-barred reassessment.
ITAT Ahmedabad deletes arbitrary disallowances under Section 40A(2)(b), emphasizing AO’s burden to prove excessiveness in related party transactions.
ITAT Mumbai quashes reassessment notices for Rising Star Investment for AY 2017-18, citing jurisdictional defects and lack of proper sanction. Also deletes Section 56(2)(viia) addition based on DVO report.
ITAT Delhi rules that royalty income, uncertain in collection, cannot be taxed merely due to TDS deduction. Real income theory and AS-9 prevail.
ITAT Delhi quashes reassessment for AY 2015-16, finding the Section 148 notice issued on July 29, 2022, was beyond the statutory limitation period.
Calcutta High Court upholds Tribunal’s decision, dismissing revenue’s appeal in Mallcom VSFT Gloves case regarding Section 68 addition of Rs. 5.07 Crores.
