Madras High Court Upholds Income Tax Assessment Transfer From ITO Theni to DCIT Kochi For Coordinated Investigation
The Madras High Court has upheld the income tax assessment transfer from Income Tax Officer, Theni, to the Deputy Commissioner of the Income Tax...
ESOP Issued To Employees Is Revenue Expenditure: ITAT Allows Income Tax Deduction
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) while allowing the deduction under Section 37(1) of the Income Tax Act, 1961 has held...
CBDT To Decide Delay Condonation Applications; Delegation To Additional CIT (OSD) Not Proved: Bombay High Court
The Bombay High Court has held that the Central Board of Direct Taxes (CBDT) is empowered to decide delay condonation applications and delegation to...
Income Tax Notices Issued to Deceased Person Not Binding on Legal Representatives: Bombay High Court
The Bombay High Court has held that income tax notices issued to deceased persons are not binding on legal representatives.The bench of Justice M.S....
Retracted Statement Alone Not Sufficient for Income Tax Addition, No Incriminating Material Found: Gauhati High Court
The Gauhati High Court has held that the retracted statement alone is not sufficient for income tax addition, and there is no incriminating material...
This Karnataka High Court Ruling Settles All Aspects Of Input Tax Credit Claims
The Karnataka High Court while settling all aspects of input tax credit (ITC) claims has held that ordinarily, the claim for Input Tax Credit...
Income Tax | Failure Of Passing Of Draft Order Not Curable Defect: ITAT
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) while quashing the final assessment passed by the Assessing Officer (AO), held that failure of...
Income Tax Weekly Flashback: 9 To 15 March 2025
Income Tax Weekly Flashback for the period 9 to 15 March 2025.Delhi High CourtExistence Of ‘International Transaction’ Must Be Established Before Transfer Pricing Benchmarking:...
I-T Dept. Intensifies Probe: Unusual Data Sources Used to Track Tax Evasion
The Income Tax (I-T) Department has ramped up its investigation efforts, leaving no stone unturned in tracking potential tax evasion across multiple sectors. Businesses...
Relief To Vodafone: Delhi High Court Allows Rs.5.10 Crores Claimed On Account Of Asset Reconstruction Cost
In a major relief to Vodafone, the Delhi High Court has allowed Rs.5,10,79,752 claimed on account of asset reconstruction cost (ARC).The bench of Justice...
Bad Debt Deduction Under Income Tax Act Allowed Only For Banking or Money-Lending Businesses: Delhi High Court
The Delhi High Court has held that bad debt deduction under Section 36 of the Income Tax Act allowed only for banking or money-lending...
Peeyush Jain Posted As CCIT (OSD), CBDT
The Central Board of Direct Taxes (CBDT) has been transferred and posted Peeyush Jain as CCIT (OSD), CBDT with immediate effect.The charge ofthe post...
Existence Of ‘International Transaction’ Must Be Established Before Transfer Pricing Benchmarking: Delhi High Court
The Delhi High Court has held that the existence of 'international transaction' must be established before transfer pricing benchmarking.The bench of Justice Yashwant Varma...
Income Tax Principal Commissioner Can Cancel 12A Registration Without Waiting for Assessing Authority’s Decision: Kerala High Court
The Kerala High Court has held that the income tax principal commissioner can cancel registration under Section 12A of the Income Tax without waiting...
Income Tax | Disputed Question Of Fact In Respect Of Proper Notice Can’t Be Examined Under Article 226: Kerala High Court
The Kerala High Court has held that the disputed question of fact in respect of proper notice under Income Tax Act cannot be examined...
Bombay High Court Orders RBI to Accept Old Demonetised Notes Seized in Income Tax Raid [READ JUDGEMENT]
The Bombay High Court has directed the Reserve Bank of India (RBI) to accept demonetised currency notes from a group of Kolhapur residents after...
PCIT Invites Application For Empanelment As Senior And Junior Standing Counsels To Represent The Income Tax Department
The Principal Commissioner of Income Tax (Judicial) (PCIT) has issued the notice for engagement of senior and junior standing counsels by income tax dept....
Direct Tax Weekly Flashback: 2 March to 8 March 2025
Direct Tax Weekly Flashback for the period 2 March to 8 March 2025.Delhi High CourtTwo-Tier Satisfaction Of AO Must For Reassessment: Delhi High Court Delhi...
Section 87A Rebate Confusion: Taxpayers With Capital Gains Might Get Notice
A major controversy has erupted over the applicability of the Section 87A rebate in India’s income tax law, particularly concerning taxpayers with capital gains...
Rejection of Application For Compounding Of Offence Under Income Tax Act Solely Based On Limitation Period: Bombay High Court Directs Reconsideration
The Bombay High Court has directed the Chief Commissioner to reconsider the application for compounding of offence under Income Tax Act as the rejection...
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