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Direct Tax
Vodafone Recharge Distributor’s Bank Transactions Not Turnover: ITAT Deletes ₹1.5 Lakh Tax Audit Penalty
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has deleted a penalty of ₹1.5...
Direct Tax
Reassessment Initiated by ITO Beyond Pecuniary Jurisdiction Invalid: ITAT Deletes ₹2 Crore Unexplained Credit Addition
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has quashed reassessment proceedings...
Direct Tax
Income Tax Officer Can’t Use Last-Minute Valuation Reference to Extend Assessment Limitation: Gujarat High Court
The Gujarat High Court has quashed an Income Tax Department reference made to the...
Direct Tax
Transport Expenses Can’t Be Disallowed After AO Verifies Transactions as Genuine: Income Tax Appeal Allowed [READ ODER]
The National Faceless Appeal Centre (NFAC) has deleted an addition of ₹42.09 lakh made...
Direct Tax
Mere Surge in Penny Stock Price Cannot Make Capital Gains Bogus Without Evidence Linking Assessee to Manipulation: Madras High Court
The Madras High Court has held that a steep and commercially inexplicable increase in...
Direct Tax
No Mandatory Rs.75K Or Rs. 1.50 Lakh Late Fee on Delayed Tax Audit Report for FY 2025-26
Taxpayers filing their Tax Audit Reports for Financial Year 2025-26 after the prescribed deadline...
Direct Tax
BookMyShow Convenience Fee Is Not Commission; No TDS Liability U/S 194H: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the...
Direct Tax
Income Tax Reassessment Notice Issued Beyond 3 Years With CIT’s Approval Invalid: ITAT
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has quashed reassessment proceedings...
Direct Tax
S. 68 Addition Can’t Survive After Taxpayer Proves Lenders’ Identity, Creditworthiness, Loan Genuineness: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has deleted an addition...
Direct Tax
‘Reason to Suspect’ Can’t Justify Income Tax Reassessment: Bombay High Court Quashes S. 148 Notice Over ₹15.56 Crore FDI
The Bombay High Court has quashed an Income Tax reassessment notice involving alleged escaped...
Direct Tax
Parliamentary Panel Flags ‘Punitive’ Income Tax Regime, Questions Notices, Official Overreach and Rising Litigation
Members of the Parliamentary Standing Committee on Finance, cutting across political parties, have expressed...
Direct Tax
ITO Cuts Rs. 1.42 Lakh Income Tax Demand to Rs. 671 Despite S. 154 Time-Limit Objection [READ ORDER]
In a significant taxpayer-relief case, the Income Tax Department has reduced a demand of...
Latest articles
GST
GST Registration Cancellation Quashed Over Missing Verification Report And Unexplained Retrospective Effect: Karnataka High Court
The Karnataka High Court has set aside an order cancelling a firm’s GST registration...
GST
Internal Departmental Delays Can’t Extend GST Refund Appeal Deadline: Karnataka High Court
The Karnataka High Court has dismissed the department’s appeal in a dispute involving recovery...
GST
GST Officer Blocks Rs. 1.61 Crore ITC Beyond His Powers; Allahabad High Court Orders Review Of Similar Cases
The Allahabad High Court has directed the Commissioner, State Tax, to examine whether officers...
GST
GST Recovery Put on Hold as Allahabad HC Flags Substantial Question of Law Over Portal Upload, Communication of Orders
The Allahabad High Court has taken serious note of concerns relating to the chronology...