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 ...
Punjab and Haryana High Court held that benefit of section 12AA of the Income Tax Act cannot be denied to the institute that is duly registered as educational trust and earning in utilised for the purpose of advancement of education.
Delhi High Court held that difference between purchase price of Stock Appreciation Right and the sale price at the time of exercise by the employees, holding the same to be revenue loss allowable as business deduction as expenditure incurred as per SEBI guidelines.
Karnataka HC rules reassessment under Section 153A impermissible without incriminating evidence, upholding deletion of assessed income.
Rajasthan High Court held that addition on account of bogus accommodation entries merely based on admission of assessee in absence of any corroborative evidence unjustified. Thus, addition held as unsustainable.
Chhattisgarh High Court ruling on Shaheed Nand Kumar Patel Vishwavidyalaya vs CIT. Examines rejection of tax exemption under Section 10(23C) of IT Act.
Punjab and Haryana High Court held that cash seized cannot be adjusted against tax liability as advance tax and hence interest under section 234B of the Income Tax Act on delayed payment of advance tax duly leviable.
Madhya Pradesh High Court held that an appeal to the High Court from a decision of the Tribunal lies only when a substantial question of law is involved. Appeal dismissed in absence of substantial question of law.
Calcutta High Court allows appeal against ITAT ex-parte order, requiring Klenzer Trading to pay Rs. 1 Lac to Bar Association as a condition for rehearing.
Calcutta HC upholds ITAT’s decision allowing 80G(5)(iii) registration after six months of activity commencement, dismissing revenue’s appeal.
ITAT Jaipur held that in case the books of accounts are rejected by applying provisions of section 145(3) of the Income Tax Act then assessment must be completed under section 144 of the Income Tax Act which is not done by AO in the present case.
