Income Tax Demands After Resolution Plan Approval Is Invalid: Supreme Court
The Supreme Court has declared the income tax demands raised after the approval of resolution plan (RP) by the National Company Law Tribunal (NCLT)...
E-Assessment | JAO Lacks Jurisdiction To Issue Income Tax Reassessment Notices: Rajasthan High Court
The Rajasthan High Court has held that the Jurisdictional Assessing Officer (JAO) lacks jurisdiction to issue income tax reassessment notices under section 148 of...
Income Tax Dept. Bypasses Bombay High Court Ruling In Hexaware Case, Proceeds with Independent Assessment
The Income Tax Department has disregarded the Bombay High Court's ruling in the Hexaware Technologies case and proceeded to decide the matter on its...
Direct Tax Weekly Flashback: 16 March to 22 March 2025
Direct Tax Weekly Flashback for the period 16 March to 22 March 2025.Delhi High CourtMere Suspicion Insufficient, No Evidence of Value Addition in Solar...
Bombay High Court Highlights Jurisdictional Conditions for Reopening Tax Cases; Distinguishes Previous Ruling on Sales Promotion Expenses
The Bombay High Court has highlighted jurisdictional conditions for reopening tax cases and distinguished previous ruling on sales promotion expenses.The bench of Justice M....
ITAT Quashes Income Tax Reassessment Carried On Old PAN
The Pune Bench of Income Tax Appellate Tribunal (ITAT) has quashed the income tax reassessment carried on old Permanent Account Number (PAN).The bench of...
Fund Deployment By Indian Broadcasting Foundation In BARC Is Statutory Obligation And Not ‘Investment’: Delhi High Court Allows Income Tax Exemption
The Delhi High Court while allowing the Income Tax Exemption to Indian Broadcasting Foundation has held that fund deployment in Broadcast Audience Research Council...
AO Considered Promotional Expenses In Original Proceedings: Bombay High Court Quashes Reassessment Against Pharmaceutical Company
The Bombay High Court has quashed the income tax reassessment proceedings against a Pharmaceutical Company, Pfizer Limited on the grounds that the Assessing Officer...
CBDT Seeks Stakeholders’ Input For Drafting Income-tax Rules
The Central Board of Direct Taxes (CBDT) has sought the stakeholders' input for drafting Income-tax Rules and related forms consequent to the Income Tax...
CBDT Notifies Additional Chief Secretary (IT), Delhi For Income Tax Data Sharing To Identify Beneficiaries Of Welfare Schemes
The Central Board of Direct Taxes (CBDT) has notified the Additional Chief Secretary (IT), Delhi for income tax data sharing to identify beneficiaries of...
Sikkim High Court Upholds Constitutional Validity of ‘Sikkimese’ Definition Under Income Tax Act
The Sikkim High Court has upheld the constitutional validity of 'Sikkimese' definition defined for the purpose of clause (26AAA) of section 10 of the...
‘Beyond Reasonable Doubt’ Strictly For Penal Laws; ‘Reason to Believe’ In Tax Matters: Delhi High Court
The Delhi High Court has held that the concept of “proving beyond reasonable doubt” applies “strictu senso” to penal provisions/statutes. It is also trite...
Capital Loss Under India-Ireland DTAA Can’t Be Set Off Against STCG On Sale Of Entitlement Rights: ITAT
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that the capital loss incurred under the India-Ireland Double Taxation Avoidance Agreements (DTAA)...
Genuineness Of Transactions Established: ITAT Deletes Income Tax Additions On Bogus Transaction
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has deleted the income tax additions on bogus transactions on the grounds that the genuineness...
Search And Seizure Case Involving Huge Unaccounted Income: Bombay High Court Refuses To Quash S. 153C Assessment Order
The Bombay High Court has refused to quash the assessment order passed under Section 153C of the Income Tax Act in the search and...
Mere Suspicion Insufficient, No Evidence of Value Addition in Solar Goods by Assessee: Delhi High Court
The Delhi High Court has held that the department had failed to place on record any documentary evidence to substantiate that the assessee has...
Low Deterrence in Law Fuels Habitual Economic Offenders, Must Be Stopped: Bombay High Court
The Bombay High Court has held that the low deterrent effect of the law has worked on a professional talent to become a habitual...
Bombay High Court Asks ICAI On Action Against CAs Without COP Engaged in Misconduct
The Bombay High Court has asked the Institute of Chartered Accountants Of India (ICAI) for action against Chartered Accountants (CAs) without Certificate of Practice...
CBDT Issues Clarifications on Revised Compounding Guidelines Under Income Tax Act
The Central Board of Direct Taxes (CBDT) has issued a fresh set of Frequently Asked Questions (FAQs) to provide clarity on its revised guidelines...
Boatman Earns Rs. 30 Crore During Kumbh Mela, Faces Rs. 12.8 Crore Income Tax Notice
A boatman’s family from Arail village, Prayagraj, has been issued an income tax notice of Rs. 12.8 crore after earning an astonishing Rs. 30...
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