Income Tax : This guide explains when penalties can be imposed under various provisions of the Income-tax Act, 1961. It also outlines the appli...
Income Tax : ITAT Mumbai held that penalty under Section 270A cannot be levied merely because income was estimated after rejection of books. Si...
Income Tax : The article explains how transactions between associated domestic entities exceeding ₹20 crore must comply with arm's length pri...
Income Tax : The Tribunal ruled that non-specification of the precise statutory charge under sections 270A(2) and 270A(9) violated principles o...
Income Tax : Budget 2026 proposes allowing taxpayers to file an updated return even after receiving a reassessment notice under Section 148. Wh...
Income Tax : Explore amendments to section 253 of Income-tax Act, adjusting time limits for filing appeals to the Income Tax Appellate Tribunal...
Income Tax : ITAT Delhi held that IT, salary and travel reimbursements without any profit element were not taxable and deleted the disallowance...
Income Tax : ITAT held that an Assessing Officer cannot substitute the DCF method chosen under Rule 11UA with the NAV method without legal just...
Income Tax : ITAT held ₹33 crore settled rights over the entire land, allowing full indexed acquisition cost and rejecting proportionate rest...
Income Tax : ITAT excluded EDCIL, Just Dial, Info Edge and India Exposition Mart as transfer pricing comparables due to functional differences ...
Income Tax : The Tribunal ruled that a penalty notice lacking a specific allegation of under-reporting, misreporting, or the applicable clause ...
The Tribunal held that once a Section 35D claim was accepted in earlier years, it could not be disallowed in the final amortization year without disturbing the original allowance. The disallowance of preliminary expenses was therefore delete
ITAT Delhi held that deduction under Section 80G cannot be denied merely because donations were made as part of CSR obligations. The Tribunal ruled that contributions to eligible institutions remain deductible when statutory conditions are satisfied.
Pune ITAT held that once TNMM is accepted for a taxpayer’s aggregated international transactions, the TPO cannot isolate a single transaction and apply a different method. The ruling deleted the transfer pricing adjustment and reinforced consistency in benchmarking.
The Tribunal held that a penalty notice must clearly state the specific limb of Section 270A being invoked. Absence of such specification was held fatal to the penalty proceedings.
The ITAT Hyderabad held that no under-reporting of income existed where the income declared in the return filed under Section 148 was accepted without any addition. The penalty under Section 270A was deleted.
The Tribunal held that the assessee’s delayed appeals warranted condonation in light of an earlier decision on similar facts. The appeals were sent back to the CIT(A) for adjudication on merits.
ITAT remanded the issue of applying DTAA rates to dividends paid to non-resident shareholders because crucial documents such as TRCs and related records were not available on record.
ITAT Ahmedabad held that the Transfer Pricing Officer cannot determine the arm’s length price of intra-group services at Nil merely based on assumptions regarding benefit or commercial necessity.
The Tribunal held that once immunity under Section 270AA was granted and the assessee accepted the assessment without appeal, the Assessing Officer could not later alter the assessment through Section 154 rectification. The ruling reinforces the finality and certainty intended by the immunity scheme.
The Tribunal held that donations qualifying under Section 80G do not become ineligible merely because they are incurred as part of CSR obligations. The deduction was allowed following earlier decisions in the assessee’s own case.
