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 ...
Bombay High Court ruled on TDS for Nanavati Hospital. It confirmed doctors are independent professionals, but remanded the AMC matter for re-evaluation.
Karnataka High Court held that for AY 2014-2015, assessee couldn’t be classified as wholesale trader as both the specified conditions are not satisfied. Accordingly, in terms of notification no. 30/2013 tolerance range of 3% to be adopted.
Calcutta High Court condones delay by Income Tax department, allowing assessee to file Forms 1 & 2 physically and avail Vivad se Vishwas Scheme, 2024.
The Gujarat High Court upheld the deletion of a ₹39 crore addition made under Section 68 of the Income Tax Act, finding the assessee had discharged its onus of proof.
The ITAT Ahmedabad has remanded a penalty case for Co.op Credit Society, directing the AO to pass a new order only after the related quantum appeal is finalized.
The Allahabad High Court ruled that when a best judgment assessment is conducted, the assessee has the burden to prove that the tax authorities’ findings are perverse.
Chhattisgarh High Court held that addition towards unaccounted sales based on estimated production yield is baseless and without any evidence/ material and accordingly is not sustainable in law. Accordingly, appeal of revenue dismissed.
Gujarat High Court upholds deletion of ₹11.57 crore addition, ruling that repayment of loan within the same financial year proves its genuineness.
Bombay High Court held that if municipal rateable value doesn’t depict correct annual value, AO can make independent enquiry under section 23(1)(a) of the Income Tax Act and determine the sum which the property is reasonably expected to fetch for purpose of determining annual value u/s. 22.
Karnataka High Court held that the assessment order passed is beyond the time limit prescribed under Section 144C(13) of Income Tax Act. Accordingly, the appeal is disposed of.
