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 ...
Whether addition made by Assessing Officer under Section 68 was justified, particularly in light of non-response from directors to notices.
Assessee had miserably failed to establish genuineness of the transaction by cogent and credible evidence and that the investments made in its share capital were genuine.
Bombay High Court ruling favors Tata Steel, allowing its Rs. 212.52 crores contribution to Compensatory Afforestation Fund as revenue expenditure, dismissing IT department’s appeal.
Department argued that it had not received the ITAT’s order through proper channels, thus absolving itself of responsibility. However, the court rejected this argument, emphasizing that once the Department became aware of the ITAT’s order, it was obligated to comply within the stipulated time frame.
Bombay High Court ruling: Assessing Officer (AO) must record dissatisfaction with Assessee’s claim regarding expenditure. Detailed analysis of PCIT-2 Vs Tata Capital Ltd case.
In the case of ITO Vs Raj Maitry & Eskon Developer, ITAT Mumbai decides advance received from customers isn’t income under section 68. Detailed analysis of the ruling.
ITAT Mumbai held that addition under section 68 of the Income Tax Act unsustainable as assessee has established the genuineness of purchase and sale of shares by producing documentary evidence and transaction of purchase and sale of shares is done via banking channel.
Delhi High Court dismisses Revenue’s appeal, ruling photocopy of sale agreement insufficient evidence for income addition. Analysis & judgment explained.
ITAT Mumbai held that the expenses excluded from the export turnover have to be excluded from the total turnover as well while computing deduction u/s 10A of the Income Tax Act.
Calcutta High Court dismisses PCIT’s appeal, reaffirming that the least complex party should be the tested entity in transfer pricing transactions, citing relevant precedents.
