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 Kolkata quashes PCIT’s Section 263 revision, ruling that limited scrutiny cannot be expanded beyond its scope under the Income Tax Act.
ITAT Kolkata remands ₹12 lakh TDS disallowance case under Section 40(a)(ia) for reassessment, directing AO to verify interest payments and tax compliance.
ITAT Ahmedabad sets aside CIT(A)’s ex-parte order on ₹3.3 crore disallowance, directing fresh adjudication on agricultural income tax exemption.
ITAT Ahmedabad remands Amod Steel case after non-appearance due to communication sent to a former accountant’s email, impacting the appeal process.
ITAT Delhi remanded the issue back to file of AO to re-compute disallowance under rule 8D(2)(ii) of the Income Tax Act by taking those investment which give rise to exempt income @1% of average value of investment.
In case of shares issued under amalgamation, there are no two parties to a transfer of a property. There are tripartite arrangements between amalgamated company, amalgamating company and shareholder of the amalgamating company.
Punjab and Haryana High Court held that revisionary proceedings under section 263 of the Income Tax Act on the basis of audit objections raised by audit party justifiable since there was no verification done by AO during assessment proceedings.
Assessee also pointed out that the income from these credits was included in its accounts for the year and taxed accordingly. A claim for interest under section 244A for the short refund was also raised.
Respondents submitted that the impugned orders did not suffer from any irregularity or illegality warranting interference under Article 226 of the Constitution of India.
Lease premium and other charges received by assessee on behalf of the Government of Maharashtra and the ownership of the land remained with the State Government. Assessee’s role was confined to the development and management of industrial areas.
