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 ...
Delhi High Court held that completed assessments cannot be disturbed without any incriminating material found during search. The Court dismissed Revenue’s appeal, reaffirming that additions under section 153A require evidence of undisclosed income or assets.
The Court ruled that services rendered remotely cannot create a PE because the treaty requires services furnished within India through employees. virtual presence cannot substitute physical presence without treaty amendment.
The High Court sustained the exemption under Section 11 for a charitable trust, holding that doctors’ fees excluded from gross billing do not affect the 2% Indigent Patient Fund contribution. Revenue’s appeal was dismissed.
Rajasthan High Court held that criminal prosecution wholly on allegation of concealment is liable to be quashed since the Tribunal has adjudicated that there was neither concealment during penalty proceedings hence there remains no factual or legal basis for the prosecution to survive.
The High Court ruled that undisclosed income can be assessed using both search material and other information relatable to it, confirming the ITAT’s interpretation of Section 158-BB.
Chhattisgarh High Court held that TCS provisions covered under section 206C(1C) of the Income Tax Act doesn’t apply to amount of compounding fees/ fine that was recovered from illegal miners and transporters of minerals.
Gujarat High Court held that Explanation to section 73(1) of the Income Tax Act cannot be applied to loss on sale of shares which were acquired on conversion of partly convertible debentures. Hence, loss on sale of such shares is not speculation loss and hence set off allowed.
Court rules partial co-ownership of property constitutes ownership under Section 54F, disallowing exemptions claimed on reinvested capital gains. Tribunal’s earlier allowance set aside.
Madras High Court held that order of attachment of immovable property is required to be lifted as recovery officer is bound to give effect to order of higher authority. Accordingly, since entire arrears is already paid as per order passed by ITAT.
Court upheld Tribunal’s finding that Assessing Officer examined cash deposits and adopted a permissible view by treating them as sales. Since the issue had been enquired into and two views were possible, revision under Section 263 could not be justified.
