Income Tax : The article explains remedies available after adverse tax orders under scrutiny and reassessment. The key takeaway is that choosin...
Income Tax : The Court clarified that mere pendency of information exchange requests under DTAA cannot justify continuing a Look Out Circular. ...
Income Tax : A surge in Section 143(2) notices was triggered by the June 2025 limitation deadline. This explains why cases were picked and how ...
Income Tax : The Tribunal ruled that penalty under Section 271A cannot be levied merely because books were rejected and income was estimated. S...
Income Tax : The ITAT held that an assessment completed before receiving the DVO report under section 50C(2) is invalid. All additions and disa...
Income Tax : Delhi ITAT allows Sanco Holding, a Norwegian company, to compute income from bareboat charter of seismic vessels under Article 21(...
Income Tax : It has been observed that in many cases an assessee may wish to make a claim which was not made in the return of income filed unde...
Income Tax : We have attached a file in excel format. The file contains the format of various details which normally assessing officer asks As...
Income Tax : Tribunal observed that the Assessing Officer failed to establish any mismatch in stock, sales, or accounting records before making...
Income Tax : ITAT Hyderabad held that constituent members of a JV or Consortium can claim deduction under Section 80IA(4) when they actually ex...
Income Tax : The Tribunal found that full payment, TDS deduction, and transfer of possession established completion of the transaction for capi...
Income Tax : ITAT Rajkot held that cash deposits made during demonetization were fully supported by audited books of account, cash books, and b...
Income Tax : The Hyderabad ITAT held that purchases cannot be treated as bogus merely because the supplier failed to respond to a notice under ...
Income Tax : Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012...
The Tribunal held that DEPB income forms part of operating export income and cannot be excluded from turnover merely on a different view. Revision under section 263 was found unjustified where the original assessment involved due application of mind.
The High Court held that refunds cannot be adjusted against a demand already stayed by the Assessing Officer. It directed refund of amounts adjusted despite the assessee being treated as not in default.
The Tribunal held that reopening based only on generalized information about a scrip, without independent inquiry or linkage to the taxpayer, is invalid. Entire addition on alleged bogus LTCG was deleted.
High Court held that a final assessment order passed without awaiting DRP directions violates section 144C. Such non-compliance rendered the assessment order non est and liable to be quashed.
The High Court held that jewellery seized during a search cannot be retained once tax liability is fully settled under the Vivad Se Vishwas Scheme. Continued detention after issuance of Form-5 was declared illegal.
The Tribunal examined how brought-forward losses should be computed for MAT purposes. It held that losses as on the end of the preceding year must be considered, not figures altered during the assessment year.
The Tribunal ruled that rental receipts could not be shifted to income from other sources without any change in facts. Long-standing acceptance of house property treatment required the Department to follow consistency.
The addition for alleged cash paid towards property purchase was deleted as the transaction itself stood cancelled. The ruling confirms that cancelled transactions weaken unexplained cash allegations.
The Tribunal set aside a ₹18.48 crore addition under Section 56(2)(x) after noting that the nature of the property as stock-in-trade was never examined. The matter was remanded to verify whether the asset was business inventory, in which case the provision would not apply.
The court refused to grant a mandatory stay on income tax demand where the taxpayer had earlier proposed paying dues in instalments. The ruling underscores that voluntary payment proposals can weaken claims for interim protection.
