Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : Learn how business and professional income is computed under the Income-tax Act after the Finance Act, 2026. This guide explains t...
Goods and Services Tax : Learn about the scope of GST on commission income. Understand the invoice test, registration thresholds, and key rulings that clar...
Income Tax : Understand the penalties, interest, and disallowance of expenditure under Section 201 for failure to comply with TDS provisions in...
Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
Income Tax : Interest income earned by a foreign bank from foreign currency loans extended to Indian corporates was taxable on a gross basis. S...
Income Tax : ITAT Delhi held legal services are not FTS under Section 9(1)(vii) and directed partner-wise DTAA examination. FTS addition was de...
Income Tax : ITAT upheld taxation of IPS and CEV subsidies following the Section 2(24) amendment, while partly allowing the appeal on other iss...
Income Tax : ITAT held that Accounting Standard-19 governs accounting treatment but does not determine tax treatment under the Income-tax Act. ...
Income Tax : The ITAT Mumbai held that Explanation 1 to Section 37(1) could not apply in the absence of any finding by the competent authority ...
ITAT Ahmedabad upheld reassessment proceedings after finding that seized diaries recorded unaccounted cash transactions exceeding prescribed limits. The Tribunal held that statutory conditions for reopening were satisfied.
The Tribunal held that the MAT provisions under Section 115JB do not apply to banking companies, following binding precedents in the bank’s own cases. The decision provides significant relief by confirming that banks are not liable to tax on book profits under MAT provisions.
The ITAT Ahmedabad held that isolated WhatsApp messages and electronic communications cannot, by themselves, support additions in search assessments. The Tribunal deleted several additions because no corroborative evidence established actual cash transactions. The ruling underscores that suspicion cannot replace proof in tax proceedings.
The Tribunal ruled that Section 263 does not permit the PCIT to substitute his opinion for that of the Assessing Officer when two legally sustainable views exist. A revision based solely on a different interpretation of taxability is unsustainable.
The Tribunal observed that reliance on third-party statements without providing cross-examination rendered the additions legally unsustainable. The judgment highlights the procedural safeguards available to taxpayers in search-related proceedings.
The Chandigarh ITAT ruled that interest received on enhanced compensation is taxable under Section 56(2)(viii), holding that post-2009 amendments govern the issue despite claims for exemption under Section 10(37).
Tribunal ruled that interest liability extends to the full duty adjudged under Section 28, regardless of whether payment is made through cash or EPCG licence adjustment. The decision clarifies the scope of compensatory interest provisions.
The Tribunal held that Section 43B cannot be invoked where the assessee has not claimed the GST liability as a deduction. Since the amount was not debited to the profit and loss account, the disallowance was deleted.
Show cause notice dated 06-12-2012 issued by the Additional Director General, DRI, was quashed for lack of jurisdiction in view of the law laid down in Canon India Pvt. Ltd. v. Commissioner of Customs.
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.
