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 ...
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.
Bombay High Court upholds AO’s addition for unverified bogus purchases in PCIT vs. Kanak Impex. Decision based on Section 69C and apex court precedents.
Karnataka High Court ruled on V.S. Chandrashekar vs. ACIT regarding tax treatment of land transactions, applicability of Section 50C, and capital gains classification.
In Seth Banarsi Dass Gupta v. Commissioner of Income Tax, it is held that the High Court within whose jurisdiction the AO has passed the assessment order would have the jurisdiction to entertain the appeal under Section 260A of the Act.
Supreme Court held that no penalty under section 271AAA(1) of the Income Tax Act when undisclosed income during course of search is admitted and paid tax with interest. Accordingly, penalty u/s. 271AAA(1) set aside.
