Income Tax : Kerala HC rules no separate challenge needed for Sec 263 remand order before appealing revised assessment; restores Malabar Instit...
Income Tax : Understanding the exclusion of time limits during Court stays in assessment proceedings under Finance Bill 2025 for Income Tax ass...
Income Tax : Explore Section 263 of ITA, 1961, and its implications for revising assessment orders with no discussion on certain issues. Judici...
Income Tax : Explore landmark judgments on capital gain tax exemptions under Sections 54 and 54F of the Income Tax Act. Key highlights from ITA...
Income Tax : Understand the differences between appellate powers u/s 251, revisional powers u/s 263, and 264 of the Income Tax Act, and how the...
Income Tax : National Chamber of Industries & Commerce, U.P has made a representation against Indiscriminate notices by the Income Tax Depa...
Income Tax : KSCAA has made a Representation on Challenges in Income Tax Related to Rectification Proceedings, Order Giving Effect, Delay in P...
Income Tax : One of the key sources of dispute is the existing arrangement for follow up on audit objections by Internal Audit Party and the Re...
Income Tax : ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act not invocable as assessment made by AO af...
Income Tax : ITAT Raipur that where the income of the assessee has been computed by applying a gross profit rate, there is no need to look into...
Income Tax : Bombay HC confirms ITAT decision setting aside PCIT's Section 263 revision, holding AO took a valid view on interest disallowance ...
Income Tax : ITAT Pune quashes revision order against Angre Port Pvt. Ltd. on legal expense claims, ruling AO had conducted due inquiry and ado...
Income Tax : ITAT Ahmedabad rejects PCIT’s revision under Section 263, holding AO had duly verified cash deposits and creditors during demone...
ITAT Surat held that interest paid in respect of business profit attributable to section 80P(2) of the Income Tax Act is allowable. Accordingly, AO directed to consider direct nexus of interest paid with interest income attributable under section 80P(2).
ITAT Mumbai quashes Sec 263 revision in Narayan Rane’s case. Holds AO took plausible view, order not erroneous & prejudicial despite Pr. CIT alleging lack of inquiry.
Bombay High Court dismisses revenue appeal, upholds ITAT ruling on assessment of CD marketing rights expenditure.
ITAT Mumbai held that disallowance of claim of depreciation in respect of 3G spectrum charges is not justified. Accordingly, depreciation on 3G spectrum charges allowed under section 32(1)(ii) of the Income Tax Act.
Jaipur ITAT sets aside PCIT order under Section 263 in Smt. Lata Phulwani case, citing AO’s due inquiry and permissible view on Sec 54F deduction.
ITAT Surat held that addition under section 68 of the Income Tax Act treating transaction as bogus merely on the basis of suspicion, presumptions and probability is not sustainable in law. Accordingly, appeal of assessee allowed.
ITAT Hyderabad held that disallowance under section 14A of the Income Tax Act is rightly deleted by CIT(A) since assessee has not earned any dividend income. Thus, when there is no dividend income, the provisions of section 14A are not applicable.
ITAT Jaipur quashes PCIT order revising assessment of Auro Iron, citing insufficient inquiry and overreach on reassessment grounds.
ITAT Ahmedabad dismisses appeals by GE Power India ex-staff, backing PCIT’s order for fresh assessment due to wrongly claimed tax exemptions on VRS.
ITAT Pune held that denial of exemption under section 10(23C) of the Income Tax Act for bonafide mistake of filing ITR-5 instead of correct ITR-7 not justifiable since the same is just a procedural technical mistake.
