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 ...
The court held that additions for excess stock and cash cannot be sustained when based solely on a survey statement under Section 133A, reaffirming that such statements lack conclusive evidentiary value.
The court held that exporters cannot be denied Section 80HHC benefits merely for lack of a consolidated BRC. Consignment-wise bank certificates are sufficient if available on record.
The Court ruled that omission to issue Section 143(2) vitiates reassessment at the root. Such a defect cannot be cured, even if the return is alleged to be defective.
The issue was whether the appellate authority relied on fresh evidence without following Rule 46A. The High Court upheld deletion of the addition, holding that all documents were already on record before the Assessing Officer.
The High Court upheld deletion of addition where the Assessing Officer relied on undisclosed information. The ruling reinforces that additions cannot be sustained without confronting the assessee with material evidence.
The case addressed the correct head of income for interest earned on staff loans. The court affirmed the Tribunal’s finding that such income arises in the normal course of business and found no ground to interfere.
The Supreme Court dismissed the Revenue’s appeal solely on account of unexplained delay, leaving the High Court’s decision undisturbed and reinforcing procedural discipline in tax litigation.
The High Court upheld deletion of additions where share sale transactions were supported by contract notes, demat records, and bank statements, and no contrary evidence was found.
The Tribunal held that running coaching classes for substantial fees does not qualify as charitable education. In the absence of evidence of free or subsidized services, exemption under section 11 was rightly denied.
The Tribunal ruled that penalty proceedings are consequential to assessment. When the assessment issue is pending before the High Court, penalty cannot be enforced.
