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Direct Tax
AO Can’t Consider Claim Of Time Barred Income Tax Revised Return: Supreme Court
The Supreme Court has held that the assessing officer (AO) had no jurisdiction to...
Direct Tax
Section 80IA Deduction Allowable On Port Infrastructure Development: Calcutta High Court
The Calcutta High Court while upholding the order of Income Tax Appellate Tribunal (ITAT)...
Direct Tax
No Addition Is Permissible Unabated Assessments Unless Based On Incriminating Material: ITAT
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that no addition is...
Direct Tax
Penalty Under Section 270(A) Discretionary In Nature, ITAT Deletes Penalty For AO’s Failure To Prove Malafides
The Banglore Bench of Income Tax Appellate Tribunal (ITAT) has held that the penalty...
Direct Tax
ITAT Discharging Judicial Functions Is Expected To Maintain Consistency In Its Views, Unjust Deviation Affect Credibility: Gauhati High Court
The Gauhati High Court has held that the Income Tax Appellate Tribunal (ITAT) while...
Direct Tax
Mere Use Of Expression ‘Yes, I Am Satisfied’ By PCIT Not A Valid Approval Under Section 151 Of Income Tax Act: Delhi High Court
The Delhi High Court has held that mere use of the expression ‘yes, i...
Direct Tax
Capital Gains Computed On Depreciable Asset To Be Given Benefit Of Lower Tax Rate: ITAT’s Members Have Dissenting Views
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) comprising of Amit Shukla (Judicial...
Direct Tax
No Depreciation On Toll Roads Is Allowable: ITAT
BackgroundConclusion - Depreciation On Toll RoadsFAQsOn which assets depreciation is not allowed?Is depreciation on...
Direct Tax
Signing Of Assessment Order Is An Integral Part Of Order Generation In E-Assessment: ITAT
BackgroundSubmissions ConclusionWhat Is An Integral Part Of Order Generation In E-Assessment?The Mumbai Bench of...
Direct Tax
Depreciation Can Only Be Set Off Against ‘Profits Or Gains’ And Not Against ‘Income From Any Other Sources’: Kerala High Court
BackgroundRelevant ProvisionsConclusionFAQsDepreciation Can Only Be Set Off Against what sources?The Kerala High Court has...
Direct Tax
Bandwidth Services Provided Outside India Not Taxable As ‘Royalty’: Delhi High Court
The Delhi High Court ruled that the bandwidth services provided outside India are not...
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Columns
Why Did ICAI Put Its Big 4 Disclosure Rules on Hold?
The Institute of Chartered Accountants of India (ICAI) has put on hold its much-anticipated...
GST
CGST Kolhapur Cracks ₹10.57 Crore Fake ITC Racket; Mastermind Behind Six Shell Firms Arrested
In a significant crackdown on GST fraud, the Anti-Evasion Wing of the Central Goods...
GST
Can GST Authorities Issue One Show Cause Notice for Multiple FY? Supreme Court to Decide
The Supreme Court on Thursday issued notice on a Special Leave Petition (SLP) challenging...
GST
GST Refund Interest Must Be Calculated from Original Refund Application, Not Fresh Filing After Court Order: Gujarat High Court
The Gujarat High Court has held that GST refund interest must be calculated from...