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 : Calcutta HC dismissed the Revenue's appeal after the remand report confirmed the disputed receipt was sale proceeds of investments...
Income Tax : Delhi High Court ruled that expenditure cannot be disallowed under Section 14A unless exempt income is actually earned in the rele...
Income Tax : Bombay High Court held that non-compliance with Section 144B raised a jurisdictional issue requiring ITAT adjudication and set asi...
Income Tax : Gujarat High Court upheld deletion of the Section 271D penalty, holding that absence of recorded satisfaction in the assessment or...
Income Tax : The High Court declined to examine bogus purchase issues after holding the Revenue's appeal not maintainable due to low tax effect...
DGFT : All conditions in policy circular no 15 of 1st February 2011 will continue to apply, except the specification about dates and the ...
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.
The Karnataka High Court ruled that an assessee can claim Section 54 exemption for capital gains on more than one house purchased, citing legislative intent and judicial precedents.
Sale proceeds of vintage car was taxable unless assessee proved that the car was used as a personal asset. Tribunal had rightly reversed the order passed by CIT (A), which had applied irrelevant considerations of wealth tax returns and non-claiming of depreciation in respect of the car by assessee.
