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 Mumbai ITAT held that reversal of securitisation provisions already disallowed in earlier years cannot be taxed again upon write-back. The Tribunal ruled that such taxation would amount to double taxation.
ITAT Mumbai held that ad hoc disallowances based only on comparative analysis of turnover and expenditure are unsustainable without identifying defects in expense claims. The Tribunal deleted additions after finding that the assessee had submitted adequate supporting documents and explanations.
The ITAT observed that mere remote access to customer-owned systems does not satisfy the disposal and permanence tests required for constituting a Fixed Place PE under the India-Canada DTAA.
The Tribunal held that penalty under Section 272A(1)(d) could not survive once the Assessing Officer completed assessment under Section 143(3) after accepting the assessee’s explanations and returned income.
The Nagpur ITAT held that exemption under Section 54B requires evidence of active agricultural operations and not merely agricultural classification in revenue records. The assessee’s failure to produce supporting evidence led to denial of exemption.
The Chennai ITAT held that deductions approved by DSIR under Section 35(2AB) cannot be disallowed merely on the basis of survey statements or AO findings. The Tribunal ruled that the AO and DRP exceeded their jurisdiction by questioning deductions already certified in Form 3CL.
The Delhi ITAT held that reassessment proceedings initiated solely on the basis of a revenue audit objection without fresh tangible material were invalid. The Tribunal ruled that such reopening amounted to a mere change of opinion.
The Telangana High Court refused to entertain a writ petition challenging an income tax intimation under Section 143(1) because it was filed after more than five years. The Court held that extraordinary delay and laches made the writ petition not maintainable.
The Kolkata ITAT held that advances received from flat purchasers in the ordinary course of a real-estate business cannot be treated as unexplained cash credits. The Tribunal ruled that such advances were genuine business liabilities regularly adjusted against sales.
The Tribunal held that the reassessment order could not be revised under Section 263 since the conditions for treating jewellery expenses as perquisite under Section 17(2) were not satisfied. The appeal of the assessee was allowed.
