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 Ahmedabad rules improper service of notice due to incorrect email address in the case of LMP Motors Pvt. Ltd Vs ACIT, highlig...
Income Tax : Kerala High Court restores Cool Mind Technologies' income tax appeal, emphasizing ITAT's obligation to consider appeals on merits ...
Income Tax : The Delhi High Court ruled that once a TPO issues an order, the AO must pass an assessment order per Section 92CA(4) of the Income...
Income Tax : Discover the ITAT Delhi's ruling on Sakshi Fincap Pvt. Ltd. vs. ITO, addressing valuation discrepancies and retrospective amendmen...
Income Tax : Kerala High Court ruling emphasizes time limits in Income Tax Act assessments on remand. Detailed analysis of Joseph Michael vs. D...
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.
The proceedings drawn, admittedly being beyond a period that was prescribed under sub-section (2A) of Section 153 and the consequential orders passed were all beyond the period of limitation prescribed under sub-section (2A) of Section 153 hence, the same being not sustainable, deserved to be and was accordingly set aside/quashed.
ITAT Delhi confirms addition u/s 68 of Income Tax Act due to the failure to prove creditor creditworthiness & transaction genuineness in Prestigious Enterprises Pvt. Ltd vs. ACIT.
