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Direct Tax
Opening Loan Balances Of Unsecured Loans Can’t Be Taxed U/s 68: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that opening...
Direct Tax
Entire Sales Receipts Can’t Be Treated as Unexplained Income: ITAT Restricts Rs. 11.52 Crore Addition on Cash Deposits
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has granted significant relief...
Direct Tax
ITAT Remands Mitsui Prime Transfer Pricing Dispute Back to AO, Flags Double Addition and Comparable Selection Issues
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has partly allowed the...
Direct Tax
ITAT Quashes Reassessment Proceedings Over Undated Reasons, Mechanical Approval U/s 151
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed reassessment proceedings...
Direct Tax
Delhi HC Directs Income Tax Dept. to Compensate Assessee for Wrongful Retention of KVPs/IVPs
The Delhi High Court has held that the Income Tax Department cannot unjustifiably retain...
Direct Tax
Notional Interest Cannot Be Taxed Without Actual Accrual; ITAT Directs LIBOR-Based Benchmarking for Foreign Currency Loans to AEs
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) while dealing with multiple...
Direct Tax
AO Can’t Disallow Intra-Group Service Expenses U/s 37 Once Transaction Is Covered Under APA: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has ruled in favour...
Direct Tax
Service of Notice Can Establish Wilful Default Under S. 276-B: Allahabad High Court Refuses to Quash TDS Default Prosecution
The Allahabad High Court has refused to quash criminal proceedings initiated under Section 276-B...
Direct Tax
Income Tax Dept. Enables ITR-1 and ITR-4 Filing Utilities for AY 2026–27; Return Filing Season Begins
The Income Tax Department has initiated the income tax return filing process for Assessment...
Direct Tax
Functional Similarity, Turnover Differences Crucial for Comparable Selection: Delhi HC Remands Transfer Pricing Issue in American Express Case
The Delhi High Court has delivered an important ruling in transfer pricing litigation involving...
Direct Tax
Dept. Can’t Sit in Armchair of Businessman; Upholds Section 47(iv) Exemption on Intra-Group Share Transfer: ITAT
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has held that tax...
Direct Tax
Bona Fide Reliance on Form 16 Can’t Be Treated as Misreporting: ITAT Deletes Rs. 51.20 Lakh Penalty on ESOP Exemption Claim
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has deleted a penalty...
Latest articles
Supreme Court
Medical Colleges Not Entitled to Five-Year Subvention After TMA Pai Verdict: Supreme Court
The Supreme Court has ruled that private professional colleges cannot claim continuation of the...
Supreme Court
Non-Signatory Shareholder Bound by Arbitration Clause: Supreme Court
The Supreme Court has held that a shareholder who did not sign a Memorandum...
Supreme Court
Can Buyers Bypass MSME Council and Invoke Arbitration Act Directly? Supreme Court Leaves Question Open
The Supreme Court has left unresolved a significant legal question concerning the interplay between...
GST
Statutory GST Appeal Can’t Be Circumvented by Mere Natural Justice Allegations: Bombay HC
The Bombay High Court has reiterated that allegations of violation of natural justice, without...