The ITAT Mumbai has ruled on the distinction between rental income and income from providing facilities. The Tribunal classified rental as “House Property” income and facility charges as “Business Income,” remanding several other issues.
The ITAT Ahmedabad condoned a 1890-day delay and remanded a case to the AO, directing the recalculation of capital gains for a co-owner by considering the DVO’s valuation and the indexed cost of acquisition.
The ITAT Ahmedabad has ruled that the Finance Act 2022 amendment, which removed the one-year extension for trust income utilization, applies prospectively, not retrospectively.
ITAT Bangalore quashes assessments against Blueline Foods, ruling that a survey is not a valid search and that a panchanama in the company’s name is required.
The ITAT Ahmedabad has remanded a case to the AO to re-examine a taxpayer’s claim for a Section 54B deduction on capital gains from a contingent sale, noting that a critical escrow arrangement was not considered.
The ITAT Delhi has remanded a charitable society’s case to the AO after finding that the CIT(A) violated Rule 46A by not allowing the AO to examine additional evidence.
The Supreme Court has remanded a case to the Karnataka High Court to re-examine the priority dispute between EPFO dues and secured creditors under the SARFAESI Act. The ruling mandates a new hearing to balance these competing claims.
Supreme Court confirmed validity of a two-decade-old auction sale for an agricultural plot but mandated buyer to pay additional compensation and get land surveyed to ensure sale’s finality and fairness.
Supreme Court dismisses ONGC’s appeal, affirming an arbitral award for a contractor. The Court clarifies that a general ‘no interest’ clause is insufficient to bar an arbitrator from awarding pendente lite interest.
The ITAT Ahmedabad bench ruled that loans from current accounts for business purposes cannot be classified as deemed dividends under Section 2(22)(e) of the Income Tax Act. Learn why this decision matters for inter-company financial transactions.
