Income Tax : The issue is when High Courts can entertain appeals against ITAT orders. The key takeaway is that only debatable, material legal q...
Income Tax : Supreme Court disallows ₹10 crore bad debt deduction for Khyati Realtors Pvt Ltd, ruling it as capital expenditure, not eligible...
Income Tax : Explore remedies for taxpayers under the Income Tax Act, 1961, comparing appeals & revisions. Understand procedures, limitations &...
Income Tax : On commencement of regular assessment proceedings u/s 143(2) of Act , there is no need for intimation u/s 143(1)(a)(i) Where the s...
Income Tax : Substantial question of Law (SQL). On interpretation of section 260A of the Income Tax Act , 1961 and section 100 of the code of c...
Income Tax : Madras High Court held that time-share membership fees could not be fully taxed in the year of receipt since the assessee had cont...
Income Tax : The Tribunal ruled in favour of the assessee after noting that audited financials, PAN, bank statements, ITRs, confirmations, and ...
Income Tax : The Hyderabad ITAT held that only the actual period lost during the limitation period can be excluded under Explanation-1 to Secti...
Income Tax : The High Court ruled that reopening under Sections 147 and 148 was unsustainable because the Assessing Officer’s reasons amounte...
Income Tax : The Delhi High Court held that shareholders of a foreign company cannot be taxed on the company’s rental income and capital gain...
DGFT : All conditions in policy circular no 15 of 1st February 2011 will continue to apply, except the specification about dates and the ...
Patna High Court held that ITAT was not justified in reversing the order of CIT(A) without demonstrating any perversity, misreading of evidence, or application of an incorrect legal standard by the appellate authority. Accordingly, deletion of addition u/s. 68 by CIT(A) justified and writ allowed.
Uttarakhand High Court held that order of the Competent Authority granting sanction or approval or refusing to grant sanction or approval u/s 151 of the Income Tax Act of 1961 is neither a revisable order, nor an appealable order.
The High Court quashed tax additions where the assessee was denied cross-examination of a key witness whose statements were relied upon. The ruling reiterates that such denial violates principles of natural justice.
Gujarat High Court held that disallowance of claim made in return cannot amount to furnishing of inaccurate particulars. Accordingly, penalty under section 271(1)(c) of the Income Tax Act cannot be levied in such case. Thus, appeal of revenue dismissed and questions of law answered in favour of assessee.
The High Court held that the tax department cannot deny set-off of short-term capital loss when the same claim was accepted in factually identical connected cases. Consistency in tax treatment was upheld.
The High Court held that the Tribunal misapplied the law on presumptions under Sections 132(4A) and 292C by wrongly shifting the burden to the Revenue. The matter was remanded for fresh adjudication.
The High Court held that the Tribunal exceeded its limited powers under Section 254(2) by recalling a final order on merits. Once the recall was struck down, the original favourable order stood automatically restored.
Kerala High Court held that Bank is not required to deduct TDS on interest paid to senior citizen who has provided Form 15H. Accordingly, Bank cannot be considered as assessee in default for non-deduction of such TDS.
The Delhi High Court rejected the Revenue’s transfer pricing appeals, holding that no substantial question of law arose. The ruling followed earlier decisions on identical issues for prior years.
The Court rejected the argument that goodwill payments amounted to prohibited fee sharing and dismissed the Revenue’s appeals.
