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section 260A

Latest Articles


SC Disallows Bad Debt Deduction for Khyati Realtors Pvt Ltd

Income Tax : Supreme Court disallows ₹10 crore bad debt deduction for Khyati Realtors Pvt Ltd, ruling it as capital expenditure, not eligible...

October 23, 2024 7422 Views 0 comment Print

Assessing Remedies: A Comparative Analysis of Appeals and Revisions for Taxpayers Under Income Tax Act, 1961

Income Tax : Explore remedies for taxpayers under the Income Tax Act, 1961, comparing appeals & revisions. Understand procedures, limitations &...

March 19, 2024 8274 Views 0 comment Print

Section 143(1)(a)(i) intimation not required on commencement of regular Section 143(2) assessment

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...

July 24, 2021 4803 Views 0 comment Print

Substantial Question of Law under section 260A of Income Tax Act, 1961

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...

July 21, 2021 11259 Views 0 comment Print

Scope of appeals from ITAT orders u/s. 260A of Income-tax Act, 1961 and S. 15 of N.T.T. Act, 2005

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...

December 9, 2009 6311 Views 0 comment Print


Latest Judiciary


Notice proposing penalty u/s. 271(1)(c) without specifying limb is bad-in-law

Income Tax : Delhi High Court held that issuance of notice for initiating penalty proceedings under section 271(1)(c) of the Income Tax Act wit...

May 14, 2025 48 Views 0 comment Print

Shares and Securities Held by Bank as Stock-in-Trade; Section 14A Inapplicable

Income Tax : Delhi High Court rejects Revenue appeal against Punjab & Sind Bank on securities, pension, 14A issues, citing coverage by earlier ...

May 13, 2025 60 Views 0 comment Print

Forum Convenience Principle Favors Remedies in Kolkata as Cause of Action Originated There: Bombay HC

Income Tax : Thus, a substantial portion of the cause of action has accrued at Kolkata. Applying the principle of forum convenience, it would b...

May 12, 2025 216 Views 0 comment Print

Infrastructure Fee Deduction Set at 5% of Receipts, Not Gross Advertising Bills: Bombay HC

Income Tax : Bombay High Court held that as per the terms and conditions of the agreement, the assessee was required to pay 5% of the receipt o...

May 12, 2025 75 Views 0 comment Print

Bombay HC: Private Trust Assessable as AOP, Upholds Section 40(ba) Disallowance

Income Tax : Bombay High Court confirms private trust assessable as Association of Persons, upholding disallowance of interest paid to benefici...

May 9, 2025 231 Views 0 comment Print


Latest Notifications


Allocation of quantities of cotton yarn for export in terms of Policy Circular No.17 dated 10th February 2011

DGFT : All conditions in policy circular no 15 of 1st February 2011 will continue to apply, except the specification about dates and the ...

March 10, 2011 337 Views 0 comment Print


TP adjustment under MAP cannot be applied to other international transaction

February 15, 2025 228 Views 0 comment Print

The US Transactions were subject to the Mutual Agreement Procedure between the competent authorities of US and India under Article 27 of the India-US Double Taxation Avoidance Agreement.

Interest for broken period on securities held as stock is allowable as deduction

February 15, 2025 168 Views 0 comment Print

Telangana High Court held that interest paid for broken period on securities held as stock-in-trade is allowable as deduction. Accordingly, petition filed by revenue dismissed and question answered in favour of respondent-assessee.

AO Must Address Objections with Speaking Order Before Reassessment: Calcutta HC

February 14, 2025 702 Views 0 comment Print

Calcutta HC rules that an AO must dispose of an assessee’s objections to reassessment through a speaking order before proceeding with the case.

No Transfer Under Section 2(47) for Immovable Property Contract Without Consideration

February 14, 2025 321 Views 0 comment Print

In the recent ruling HC of Telangana have held that assessee is eligible to claim capital gain after observing that the possession of the immovable property has not been handed over to the developer as contemplated u/s 53A of the Transfer of the Property Act, 1882.

Section 264 Revision Accepted: Suo Moto Disallowance Rectified

February 12, 2025 357 Views 0 comment Print

Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxation, such mistake can be rectified via revision application under section 264 of the Income Tax Act.

Telangana HC Denies Agricultural Income Exemption for Uncultivated Land

February 11, 2025 609 Views 0 comment Print

Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricultural income exemption claim.

Tax Deposited by TAN Instead of PAN: DCIT Can Rectify Mistake In Challan

February 8, 2025 438 Views 0 comment Print

Jammu & Kashmir High Court directs tax authorities to correct PAN errors in challans and release pending refund to Kashmir Tubes. Read the case summary here.

Addition for Undisclosed Investments is Valid if Assessee Fails to Discharge Burden of Proof

January 31, 2025 249 Views 0 comment Print

Telangana HC rules that the assessee failed to discharge the burden of proof for undisclosed investments during block assessment, upholding the addition.

State Electricity Board Rates Determine Market Price of Power: Delhi HC

January 29, 2025 486 Views 0 comment Print

Delhi HC rules that SEB rates, not IEX rates, determine the market price of electricity in transfer pricing cases, dismissing Revenue’s appeal.

Ex-parte order by CIT(A) without adjudicating issues on merits not sustainable: ITAT Agra

January 25, 2025 354 Views 0 comment Print

ITAT Agra held that ex-parte dismissal of appeal, as notices issued by CIT(A) were not compiled, without adjudicating issues on merits is in violation of section 250(6) of the Income Tax Act. Hence, order set aside and matter remitted back to CIT(A) for fresh adjudication.

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