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...
Delhi ITAT deletes ₹24 lakh unexplained expenditure addition on Hitesh Rohilla, citing lack of direct evidence linking alleged capitation fee payment to the assessee.
Delhi ITAT rules against Section 271(1)(b) penalty for non-compliance when the assessment is ultimately completed under Section 143(3) without additions.
ITAT Pune quashes Section 271(1)(c) penalty on Intervalve Poonawalla for leave encashment disallowance, citing full disclosure and judicial precedents.
The ITAT Delhi partially allowed the Revenue’s appeal against Rai Bahadur Narain Singh Sugar Mills Ltd, making a lump-sum addition of ₹5 lakh for unexplained cash deposits during demonetization.
ITAT Delhi rules that royalty income, uncertain in collection, cannot be taxed merely due to TDS deduction. Real income theory and AS-9 prevail.
Delhi High Court held that the benefit of exclusion of time by virtue of Explanation (ix) of Section 153B of the Income Tax Act cannot be available here as reference made for information under Indo-Swiss DTAA was invalid. Accordingly, questions to law as framed are answered against the Revenue.
ITAT Indore held that retrospective cancellation of registration granted under section 10(23C)(vi) of the Income Tax Act invalid. Amendment brought in statute via Finance Act, 2022 is prospectively effective from 01.04.2022.
Higher profit per se cannot lead to the conclusion that there is arrangement between the parties. The concept of PLI cannot per se be applied to hold that assessee has earned higher profit
ITAT Delhi held that revision under section 263 of the Income Tax Act not justified as PCIT failed to demonstrate that assessment order was erroneous and prejudicial to the interest of revenue. Accordingly, revision order quashed.
Mumbai ITAT allows full depreciation for New Rampgreen Technologies, citing asset ownership date. It also voids the reassessment, holding that the tax audit report was already with the AO, preventing a ‘change of opinion’ based reopening.
