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 Pune ITAT held that reassessment beyond four years based on the same hawala purchase material already examined during scrutiny amounted to a mere change of opinion. The reassessment proceedings were therefore quashed as invalid.
The Tribunal observed that earlier additions were primarily based on DRI show-cause notices without independent investigation by the Assessing Officer. Fresh adjudication was ordered after admission of subsequent customs findings.
ITAT Mumbai observed that the charitable trust had filed its original return within the due date prescribed under Section 139(1). The Tribunal directed fresh adjudication of the exemption claim instead of rejecting it on technical grounds.
ITAT Bangalore held that NIL taxable income disclosed by an Alternative Investment Fund does not automatically negate its creditworthiness. The Tribunal recognized the statutory pass-through taxation mechanism applicable to AIF structures.
ITAT Bangalore held that Section 45(5A) applies prospectively and cannot govern JDAs executed before 01.04.2018. Capital gains from older development agreements must be taxed under the law applicable in the year of transfer.
ITAT Kolkata set aside the penalty order under Section 271D after the assessee claimed inadequate opportunity of hearing during penalty proceedings. The matter was remanded for fresh adjudication and examination of supporting evidence.
The Mumbai ITAT held that expenditure on software licences, maintenance, database access and periodic upgrades is allowable as revenue expenditure. The Tribunal ruled that mere use of software does not create a capital asset or enduring ownership right.
The Mumbai ITAT held that the Assessing Officer cannot impose the maximum 90% penalty under Section 271AAB without recording extraordinary reasons. In absence of special circumstances, the penalty was restricted to the minimum prescribed rate of 30%.
The Tribunal ruled that the Income Tax Department cannot pass two reassessment orders for the same assessment year, same transaction, and same addition. The first reassessment proceedings were held legally unsustainable.
Time-share membership fees received upfront were not fully taxable under the Income Tax Act in the same year as it was intrinsically linked with continuing contractual obligations to provide accommodation and related facilities throughout the membership period and it can be spread over the contract period because services are given for many years.
