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 : A remedy by way of appeal from the orders of ITAT is provided both u/s.260A of the Income-tax Act, 1961 and u/s.15 (w.e.f. 6-1- 20...
Income Tax : Bombay High Court confirms private trust assessable as Association of Persons, upholding disallowance of interest paid to benefici...
Income Tax : Delhi High Court dismisses revenue appeal against Bharti Airtel, reaffirming that charges paid for bandwidth to overseas operators...
Income Tax : Assessee was predominantly engaged in activities of imparting education and also involving the certain educational institutions. A...
Income Tax : Calcutta High Court held that initiation of penalty proceedings under section 271(1)(c) of the Income Tax Act and passing of penal...
Income Tax : Delhi High Court held that since AY 2012-13 falls beyond the block of ten years that are required to be reckoned from the end of t...
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 Section 260A of the Income Tax Act refrains from incorporating a specific provision permitting the filing of a cross-objection. Thus, cross objection would not be maintainable.
ITAT Surat held that addition under section 68 of the Income Tax Act treating transaction as bogus merely on the basis of suspicion, presumptions and probability is not sustainable in law. Accordingly, appeal of assessee allowed.
Karnataka High Court rules on TDS applicability under Section 195 of the Income Tax Act in the case of Abbey Business Services India Pvt. Ltd. vs. Director of Income-Tax.
Bombay HC rules unexplained bank credits are taxable under Sec 68. Orders probe into accommodation entry racket by Buniyad Chemicals.
The Assessee is aggrieved by the information received pursuant to application under Right to Information Act, 2015, whereby the Assessee became aware that the Assessing Officer (AO) had not resumed proceedings in respect of AY 2007-08.
ITAT Bangalore held that denial of exemptions under section 11 and 12 of the Income Tax Act is unjustified as fees are charged by town planning authority to ensure accountability and fund public welfare initiatives, not to generate profit.
Gujarat High Court held that in the absence of new material facts brought on record by the Revenue reopening of assessment beyond the period of 4 years is found to be not sustainable in the eye of law. Thus, appeal of revenue dismissed.
Bombay High Court clarifies reassessment under Section 147 of the IT Act in CIT-5 vs. Jet Airways, ruling in favor of the assessee. Read key legal insights.
Calcutta HC dismisses IT department’s appeal in CIT vs. Infinity Infotech, ruling reassessment cannot expand beyond recorded reasons under Section 147.
Calcutta HC dismisses IT appeal against Subhlabh Steels due to ongoing insolvency under IBC, citing SC ruling in Monnet Ispat. Read the full case summary.
