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Judiciary

Old vs New Regime Dispute Ends – CBDT Circular & CPC Rectification Resolve 115BAA Claim

August 30, 2025 1194 Views 0 comment Print

The ITAT Kolkata dismissed an appeal from Ma Shanti Agro Foods Pvt. Ltd. after the tax dispute was resolved by the CBDT’s circular and a subsequent rectification by the CPC.

ITAT Restores 115BAA Concessional Tax Claim Despite Minor Form 10-IC Delay

August 30, 2025 834 Views 0 comment Print

The ITAT Kolkata restored an assessee’s claim for a concessional tax rate under Section 115BAA, ruling that the delay in filing Form 10-IC was a procedural error.

Relinquishment of Tenancy Right is Capital Gain – 54 & 54F Relief Allowed

August 30, 2025 4422 Views 0 comment Print

ITAT Kolkata ruled that the relinquishment of a tenancy right is a capital gain, and exemptions under sections 54 and 54F can be claimed simultaneously.

ITAT Dismisses Appeal for Verbose and Irrelevant Grounds

August 30, 2025 483 Views 0 comment Print

The ITAT Ahmedabad dismissed an appeal from Goldmine Commodities Pvt. Ltd. for being defective. The court found the grounds of appeal to be verbose, argumentative, and containing irrelevant allegations, failing to comply with legal requirements.

ITAT Kolkata Quashes Reassessment: No Addition on Recorded Reason, Reopening Fails

August 30, 2025 855 Views 0 comment Print

ITAT Kolkata ruled that a reassessment is invalid if no addition is made on the original reason for reopening the case, as the foundation for the reassessment collapses.

ITAT Kolkata Restores ₹22.90 Cr Share Capital Addition Case

August 30, 2025 234 Views 0 comment Print

The ITAT Kolkata restored an appeal, granting an assessee a fresh opportunity to submit evidence after the previous appeal was dismissed due to non-compliance.

Reassessment u/s. 148 based on survey operations without tangible material cannot be sustained

August 30, 2025 510 Views 0 comment Print

Delhi High Court held that reassessment proceeding u/s. 148 of the Income Tax Act cannot be sustained as based on survey operations without there being any tangible material. Accordingly, petition allowed.

Cash Deposits Used for Son’s Credit Card Payments Explained – Addition & Penalty Deleted-ITAT Ahmedabad

August 30, 2025 507 Views 0 comment Print

ITAT Ahmedabad deleted an income addition and penalty on a taxpayer, accepting her explanation that cash deposits came from her husband and brother.

Additions on Alleged Bogus Loans & Donations Deleted – Sanction Defect Vitiates Reopening Beyond 4 Years: ITAT Delhi

August 30, 2025 345 Views 0 comment Print

The ITAT Delhi deleted income additions on alleged bogus loans and donations, ruling that a defective sanction for reopening an assessment beyond four years invalidates the entire proceeding.

Suspicion is not Evidence – Old Loans can’t be Taxed as Fresh Income – ITAT deletes ₹10.75 Cr Loan Addition

August 30, 2025 417 Views 0 comment Print

ITAT Delhi deleted a ₹10.75 crore addition on old unsecured loans, ruling that tax authorities cannot tax existing liabilities as fresh income without evidence of bogus transactions.

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