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Direct Tax
S. 153C Notice Invalid Where Deemed Search Date Falls After April 1, 2021: ITAT Quashes 7 Years’ Assessments
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed assessment proceedings...
Direct Tax
±5% Transfer Pricing Range Is Not Standard Deduction; Karnataka High Court Orders Fresh ALP Determination
The Karnataka High Court has held that the tolerance range of ±5% provided under...
Direct Tax
Income Tax Prosecution for False Return Can’t Survive After ITAT Quashes Foundational Assessment: Gauhati High Court
The Gauhati High Court has quashed three criminal complaints filed under Sections 276D and...
Direct Tax
Income Tax Appeals Against Infosys, Wipro Not Maintainable Below CBDT Monetary Limit: Karnataka High Court
The Karnataka High Court has dismissed seven Income Tax Department appeals involving Infosys Technologies...
Direct Tax
Reassessment Can’t Be Used to Revisit Issues Already Examined During Scrutiny: Delhi High Court Rejects Income Tax Dept.’s Appeal Against NTPC
The Delhi High Court has upheld the annulment of reassessment proceedings initiated against NTPC...
Direct Tax
Reassessment Notice Issued to Dead Taxpayer Invalid: ITAT Quashes Rs. 8.71 Crore Capital Gains Addition
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that a...
Direct Tax
17-Month Delay in Recording Satisfaction Note Invalidates S. 153C Assessments: ITAT
The Income Tax Appellate Tribunal (ITAT), Surat Bench, has quashed four assessment orders passed...
Direct Tax
S. 148 Notices Based on Pre-March 4 Investigation Report Violate CBDT Instructions: ITAT Quashes Reassessments for 3 Years
The Income Tax Appellate Tribunal (ITAT), Ranchi Bench, has quashed reassessment notices issued for...
Direct Tax
CA’s Report Valid for Valuing Unquoted Preference Shares: Madras High Court
The Madras High Court has held that a valuation report issued by a chartered...
Direct Tax
Deposit Rs. 5K In PM Relief Fund And The ITA Filing Delay Will Be Condoned: ITAT
The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has condoned a delay...
Direct Tax
Income Above Rs. 15 Lakh in Mofussil Areas Falls Under ACIT/DCIT And Not ITO’s Jurisdiction: ITAT Quashes Reassessment
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed a reassessment...
Direct Tax
Income Tax Dept. Can’t Use Advocate’s Cloned Digital Data Against Unsearched Clients: Allahabad High Court [READ ORDER]
The Allahabad High Court has directed the Income Tax Department to segregate and delete...
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Indirect Taxes
Water Supply to Industry Is Sale, Not Taxable Right to Use Natural Resources: CESTAT
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi, has set aside...
Indirect Taxes
Non-Payment Of VAT Can’t Justify Service Tax On Goods In Works Contracts: CESTAT
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi, has held that...
Columns
Budget 2027–28: Centre Weighs LTCG Tax Cut, Dollar-Based Gains Taxation For Foreign Investors
The government is reportedly examining a reduction in long-term capital gains (LTCG) tax and...
Indirect Taxes
Excise Officers Can’t Demand Deposits Against Future Tax Liability: CESTAT
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi, has held that...