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...
Bombay High Court ruling favors Tata Steel, allowing its Rs. 212.52 crores contribution to Compensatory Afforestation Fund as revenue expenditure, dismissing IT department’s appeal.
Explore the ITAT Delhi ruling on deletion of additions based on manual cash books in Section 153A assessments.
Learn how Enayetpur S K U S Ltd secured Section 80P(2)(i) benefits for providing credit facilities for non-agricultural purposes to members according to ITAT Kolkata’s ruling.
In a recent decision, ITAT Delhi permits bad debts claimed under section 36(1)(vii) by Oriental Bank of Commerce, setting aside CIT(A)’s order.
Read the full text of the ITAT Delhi order in Prime Maxi Promotion Pvt. Ltd. Vs ACIT case, allowing deduction for additional compensation paid for land acquisition costs.
ITAT Mumbai grants relief to Tata Steel Limited, allowing deduction of interest paid on Perpetual Non-Convertible Debentures (PNCD) under section 36(1)(iii) of the Act.
Department argued that it had not received the ITAT’s order through proper channels, thus absolving itself of responsibility. However, the court rejected this argument, emphasizing that once the Department became aware of the ITAT’s order, it was obligated to comply within the stipulated time frame.
The court’s deliberation highlights the absence of any challenge to the initial re-assessment order or its revision by the Commissioner. Furthermore, the judgment underscores the principle that one assessment order per assessee per assessment year should prevail unless annulled or set aside by a competent authority or court.
Explore the detailed analysis of Jai Parkash Vs PCIT (ITAT Delhi) case where the assessment jurisdiction dispute regarding interest received under section 28 of the Land Acquisition Act was resolved.
Kerala High Court’s judgment on applicability of CBDT Circular regarding deposition of assessed tax when appeal lies only before ITAT. Analysis and conclusion provided.
