Income Tax : The three-judge bench of Supreme Court of India in the case of Deputy Commissioner of Income Tax v. M/S Pepsi Foods Ltd struck dow...
Income Tax : A perusal of this order reveals that the Tribunal has recorded a finding that it is empowered by Section 254 of the Act to stay pr...
Income Tax : The existing provisions of Section 254(2) provide for a time-limit of four years from the date of the order of the Appellate Tribu...
Income Tax : ITAT Mumbai held that although foreign commission expenditure was non-genuine and liable for disallowance, amounts already written...
Income Tax : The Bombay High Court held that reassessment proceedings became time-barred because no reassessment order was passed within the li...
Income Tax : ITAT Delhi confirmed deletion of addition on alleged diversion of interest-bearing funds, holding that hypothetical or notional in...
Income Tax : The Tribunal held that challenges to appreciation of evidence amount to review, not rectification. It ruled that Section 254(2) pe...
Income Tax : The Tribunal examined disallowance made for delayed employee contributions under Section 143(1). It held that debatable issues can...
Analysis of Bombay High Court’s ruling in CCIT(OSD)/PCIT Vs Bhupendra Champaklal Dalal regarding presumption of interest-free usage of funds when interest-free and interest-bearing funds are mixed
Delhi High Court rules that Income Tax Officer cannot withhold taxpayer’s deposited amount without framing final assessment order during stay period. Full judgment analysis.
In the case of Aurobindo Pharma Limited Vs ACIT before the ITAT Hyderabad, a Miscellaneous Application (MA) was dismissed as it raised arguments not presented during the main appeal and emphasized the restricted scope of Section 254(2).
There is no bar on appellate authority to entertain additional claim during assessment proceedings in absence of any statutory provisions.
ITAT Hyderabad rules in favor of S&P Capital IQ, allowing depreciation on goodwill as deductible under Section 32(1) of the Income Tax Act, 1961.
In the case of Shiv Kumar Nayyar vs. DCIT, the Delhi ITAT nullified an addition of cash investment, citing lack of proper application of mind in proceedings.
Income Tax Appellate Tribunal upholds denial of LTCG exemption on shares of Kappac Pharma Limited. Read the full analysis of this remarkable decision & its implications on taxpayers.
Ahmedabad ITAT dismisses appeal, denying LTCG exemption under Section 10(38) for bogus scrips. Read the full text of the order.
ITAT Delhi held that simultaneous issue of the DIN number is insignificant and superfluous exercise, in the absence of mentioning the DIN number on the body of AO’s order. Thus, Assessment order without DIN is void ab initio.
Jharkhand High Court held that initiation of prosecution proceedings under section 276CC of the Income Tax Act in absence of any demand, as demand adjusted against refund, is bad-in-law and liable to be set aside.
