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...
ITAT Hyderabad held that once the resolution plan is approved by the NCLT and the Company has been sold on going concern basis, whatever claims made before the Liquidator is final and all past or existing liabilities shall extinguish. Accordingly, matter restored back to re-examine claim made before liquidator.
The ITAT Delhi has ruled in favour of Sourabh Logistics Pvt. Ltd. regarding ₹4.50 crore in share application money, upholding its deletion. However, additions of ₹1.50 crore for unsecured loans were partly confirmed and partly sent back to the Assessing Officer for further review.
ITAT Jaipur allows deduction u/s 80P on interest earned from bank FDs and investments for a credit co-operative society, distinguishing the Totgars case and following CBDT clarifications.
ITAT Pune has granted partial relief to an assessee, deleting a ₹5 lakh disallowance related to an unexplained cash deposit. Tribunal, however, upheld disallowance of a ₹10 lakh cash gift, ruling that an unregistered gift deed with no witnesses was insufficient evidence, especially when donor was deceased.
The Income Tax Appellate Tribunal has allowed a tax appeal by Workenstein Collaborative Spaces Pvt. Ltd., ruling that a company cannot be held responsible for its suppliers’ failure to file returns or respond to notices.
In a landmark ruling, the Income Tax Appellate Tribunal has held that tax disallowance under Section 14A must be limited to investments that yielded exempt income, dismissing the tax department’s appeal against Nippon Life.
In Sicily Paul vs. ITO, the ITAT Cochin ruled that cash deposits made during demonetisation from a son-in-law’s NRE account were sufficiently explained, deleting a ₹12 lakh addition. The ruling rejected the lower authorities’ assumption that the funds had been used elsewhere.
ITAT Chennai upholds a hospital’s claim for a tax deduction under Section 35AD, ruling that a medical director’s certificate and other evidence confirm the 100-bed requirement was met, despite initial departmental findings.
Chennai ITAT rules that S. 194C(6) (obtaining PAN) and S. 194C(7) (filing statement) are independent. A procedural lapse in filing Form 26Q cannot justify a disallowance u/s 40(a)(ia).
The ITAT Delhi dismissed the revenue’s appeal, ruling that interest on External Development Charges (EDC) is a deductible revenue expense, not a penal or capital one.
