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Income Tax : The article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite ...
Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : The ITAT Mumbai held that sales tax and similar State Government incentives were capital receipts because the schemes were intende...
Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...
Income Tax : The ITAT Visakhapatnam held that deduction under Section 80P cannot be allowed where the assessee failed to file a valid return of...
Income Tax : The Tribunal directed the Assessing Officer to grant Foreign Tax Credit, observing that delayed filing of Form No. 67 is only a pr...
Income Tax : The ITAT Jaipur held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on Investigation ...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
These are eleven appeals by the Commissioner of Wealth Tax (hereafter ‘Revenue’) under section 27A of the Wealth Tax Act, 1957 (WTA), against the orders of the Income Tax Appellate Tribunal (ITAT) for assessment years (‘AYs’) 1984-85 to 1992-93 and assessment years 1997-98 to 1998-99.
Heard Sri Gaurav Mahajan learned counsel for the department and Sri Arnab Banerji learned counsel for the assessee. This is an appeal under section 260A of the Income Tax Act, 1961 filed by the department against the order dated 6.1.2006 passed by the tribunal in I.T.A. no.614/Del/2002 for the assessment year 1997-98.
This appeal is filed by assessee against the Order dated 04.5.2016 passed by the Ld. CIT(A)-12, New Delhi relating to Assessment Year 2004-05 on the following grounds:-
Initiation of reopening proceedings without communicating the reasons for reopening to the assessee was not justified.
In DCIT, Ghaziabad vs. Kuantum Papers Ltd. (ITAT Delhi) decided on 1.09.2017, Revenue contended that CIT(A) has erred in law and on facts in allowing the depreciation on paper brands, which is a non-depreciable asset because its life is not limited.
Indo Arya Central Transport Limited Vs. CIT (Delhi High Court) M/s Indo Arya Central Transport Limited have filed the present writ petition praying for the following reliefs:- “(a) Issue a writ of certiorari setting aside/quashing the impugned order dated 14.03.2017 passed by the Respondent No. 1; (b) Restrain the Respondent No. 1 and the officers […]
Sky Light Hospitality LLP, a limited liability partnership, who had on 13.05.2016 taken over and acquired rights and liabilities of M/s Sky Light Hospitality Private Limited upon conversion under the Limited Liability Partnership Act, 2008, has filed the present writ petition impugning notice dated 30.03.2017 for the assessment year 2010-11 under Section 147/148 of the Income Tax Act, 1961 („Act‟ for short).
Principal CIT Vs. Smt. Ritu Singal (Delhi High Court) In construing Section 271AAA one must not lose sight of its essential purpose which resulted in its enactment. There is a penalty at the rate of 10% of the undisclosed amount declared, if the conditions in Section 271AAA (2) are not met with. This is quite […]
CIT Vs. P.N. Writer (Bombay High Court) Assessee was entitled to the interest on refund arising on excess payment of self-assessment tax under section 244A, despite the revenue’s contention that assessee had failed to produce any material which would demonstrate how this tax was worked out, and particularly during the course of self-assessment, since the […]
Where revision application was filed by assessee, however, assessee had not been able to point out any error, which was apparent on the face of the order but the attempt appeared to be re-arguing the entire matter which is impermissible, accordingly, the review application was dismissed.
