Mumbai ITAT dismisses Section 68 addition on NICAF LLP, clarifying that Section 47(xiiib)(f) violations relate to capital gains, not unexplained credits, in company-to-LLP conversions.
The Bombay High Court dismissed a tax appeal in PCIT vs. Hans Chemicals, reaffirming that revised CBDT monetary limits apply to pending cases, leading to disposal.
Bombay High Court orders ₹19.44 lakh reward for Darshan Singh Parmar, an informant whose tips led to significant tax recoveries, after a decade-long battle with the Sales Tax Department.
Delhi High Court quashes CIT order, condoning delay in e-verifying Form 10B for Kotak Family Foundation, emphasizing justice over technicality in tax exemptions.
Punjab & Haryana High Court invalidates reassessment notices for Assessment Year 2015-16, citing limitation bar based on Supreme Court precedent.
Karnataka High Court quashes reassessment notice for AY 2015-16, citing Supreme Court precedents on expired limitation periods for tax proceedings.
Rajasthan High Court directs ITO to consider the Supreme Court’s Rajeev Bansal precedent regarding expired limitation periods for AY 2015-16 tax notices.
No Section 40A(2)(a) addition if AO not brought any comparable case to demonstrate that payments made by assessee to directors were excessive/unreasonable: ITAT
ITAT Mumbai deletes disallowance on related party payments (40A(2)(a)) and upholds commission to MD (36(1)(ii)) for Nat Steel Equipment Pvt Ltd
Madras High Court dismissed an appeal by Indian Oil Corporation, affirming the acceptance of tender bids from Jyothi Constructions despite an initial technicality.
