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 ...
Calcutta High Court held that show cause notice not specifying the charge against the assessee is bad-in-law. Accordingly, initiation of the penalty proceedings is vitiated.
Calcutta High Court held that TDS u/s 194H is not deductible on trade discounts given by the newspaper companies to Indian Newspaper Society (INS) accredited Advertising Agents.
ITAT Hyderabad held that for re-assessment beyond a period of 4 years, recording of satisfaction by the CIT is a must under the Income Tax Act, 1961. In absence of the same, re-assessment proceedings are invalid.
ITAT Delhi held that the assessee (M/s. Cane Development Council Titawi) being a local authority are not chargeable to tax in terms of section 10(20) of the Income Tax Act.
Calcutta High Court held that Tribunal duly examined the terms and conditions of the agreement and found that warranty clause is in-built. Accordingly, provision of warranty is duly allowable.
Calcutta High Court held that invocation of revisional jurisdiction by PCIT u/s 263 of the Income Tax Act ignoring the order passed u/s 153A of the Income Tax Act as immaterial and irrelevant unjustified.
Calcutta High Court held that mere usage of foreign word does not make it automatic to fall within the ambit of an international transaction.
Calcutta High Court held that invocation of provisions of rule 8D(2)(ii) of the Income Tax Rules by AO without examining the accounts of the assessee and without examining the claim made by the assessee is unjustified.
Calcutta High Court held that rendering of advisory service doesn’t amount to Fees for Technical Services/ Fees for Included Services under Article 12(4)(b) of the India-US Double Taxation Avoidance Agreement.
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 summary procedure under section 143(1)(a)(i) has been adopted, there is scope available for the revenue to make assessment u/s 143(3) of the Act. But the converse is not available. A regular assessment proceeding having […]
