The Direct Tax Weekly Flashback for the period from 30 March To 5 April 2025.

Delhi High Court

Delhi High Court Directs Issuance of Nil Withholding Tax Certificate to Lufthansa Cargo

The Delhi High Court has directed the issuance of nil withholding tax certificate to Lufthansa Cargo.

Bombay High Court

AO Acted Under Superior’s Dictation Without Independent Belief: Bombay High Court Quashes Reassessment

The Bombay High Court while quashing the income tax reassessment held that the Assessing Officer (AO) has acted under superior’s dictation without independent belief.

Madras High Court 

Madras High Courts Allows Income Tax Deduction On Amount Towards Approved Gratuity Fund with LIC

The Madras High Court allowed the Income Tax deduction under Section 40(A)(7)(b) of the Income Tax Act towards the approved gratuity fund with LIC of India and approved by the Commissioner of Income Tax is not an allowable deduction.

ITAT

Kapil Dev Exempted From Income Tax On Rs. 1.5 Crore Granted By BCCI: ITAT

The Income Tax Appellate Tribunal (ITAT) has exempted Kapil Dev from income tax on Rs. 1.5 Crore granted by Board of Control for Cricket in India (BCCI) as a one-time benefit while recognising his services to cricket.

‘Debt Forgiveness’ Can’t Be Taxes As Business Income: ITAT

The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the debt forgiveness cannot be taxed as business income under Section 28(iv) of the Income Tax Act.