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Direct Tax
‘On-Money’ Addition Deleted As Third-Party Excel Sheet Failed To Establish Undisclosed Payment: ITAT
The Income Tax Appellate Tribunal (ITAT), Mumbai, has deleted an addition of ₹2.5 crore...
Direct Tax
2 Flats Merged Into 1 Home Qualify For Capital Gains Exemption: ITAT
The Income Tax Appellate Tribunal (ITAT), Mumbai, has upheld capital gains exemptions totalling ₹28.45...
Direct Tax
Income Tax Revision Quashed: Wrong Approval Authority Can’t Support Reassessment: ITAT
The Mumbai Income Tax Appellate Tribunal (ITAT) has quashed revision orders concerning loan transactions...
Direct Tax
Can Foreign Assets Be Assessed for AY 2018–19 When the First Black Money Act Notice Was Issued in FY 2018–19? Karnataka High Court Says...
The Karnataka High Court has quashed an assessment concerning two properties in Morocco after...
Direct Tax
Information On Income Tax Dept’s Insight Portal Could Not Justify Reopening: Gujarat High Court
The Gujarat High Court held that information on the Income Tax Department’s Insight portal...
Direct Tax
Surgical Tools Used in Spinal Operations Fall Under Customs Heading 9018, Not Orthopaedic Appliances Heading 9021: CESTAT
The Chennai Bench upheld the reclassification of imported surgical instruments and rejected the importer’s...
Direct Tax
Shares Received Against Accrued Interest on Debentures Are Taxable Even Without Cash Payment: Madras High Court
The Madras High Court has upheld the revision of a reassessment order that left...
Direct Tax
Retrospective Income Tax Amendment Can’t Be Used to Recall Earlier Tribunal Order: ITAT
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that the...
Direct Tax
Can Unreceived Flats and Payments Under Development Agreement Be Taxed as Capital Gains? Punjab and Haryana High Court
The Punjab and Haryana High Court has disposed of an income tax appeal concerning...
Direct Tax
Income Tax Dept. Can’t Revise Refund Intimation Without Adjustments U/S 263: Karnataka High Court
The Karnataka High Court has set aside an Income Tax Department notice seeking to...
Direct Tax
No Coercive Recovery of Rs. 29.24 Crore Until Stay Plea Is Decided: Patna High Court in Income Tax Dispute
The Patna High Court has directed that no coercive action be taken against a...
Direct Tax
ATMs Qualify as Computers for Higher Depreciation, but Foreign Bank Can’t Claim Domestic Tax Rate: Calcutta High Court
The Calcutta High Court has held that automated teller machines (ATMs) qualify as computers...
Latest articles
Direct Tax
‘On-Money’ Addition Deleted As Third-Party Excel Sheet Failed To Establish Undisclosed Payment: ITAT
The Income Tax Appellate Tribunal (ITAT), Mumbai, has deleted an addition of ₹2.5 crore...
Direct Tax
2 Flats Merged Into 1 Home Qualify For Capital Gains Exemption: ITAT
The Income Tax Appellate Tribunal (ITAT), Mumbai, has upheld capital gains exemptions totalling ₹28.45...
Indirect Taxes
Dealer Incentives Can’t Be Taxed Merely on Ledger Entries: CESTAT
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Kolkata, has set aside a...
Indirect Taxes
Customs Interest Can’t Be Backdated Before Confiscation Liability Is Determined; Nearly 8 Year Period Excluded: Delhi HC
The Delhi High Court has held that interest arising from customs confiscation and redemption...