Income Tax Dept. Doesn’t Trust Even Its Lawyers: Supreme Court
The Supreme Court has pulled up the Income Tax Department for its “unnecessarily long and avoidable” internal procedures while condoning a 524-day delay in...
SC Upholds 100% Disallowance of Rs. 20.06 Cr Bogus Purchases Under Section 69C
The Supreme Court has upheld the Bombay High Court’s ruling that confirmed 100% disallowance of bogus purchases amounting to ₹20.06 crore under Section 69C...
S. 68 Addition Not Justified When Alleged Bogus Loan Is Repaid: ITAT
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the addition under Section 68 of the Income Tax Act is not...
Mandatory Use of Algorithm-Based Allocation In Faceless Income Tax Assessments: Rajasthan HC Quashes Reassessment Notice Issued by Jurisdictional AO
The Rajasthan High Court, Jaipur Bench quashed the reassessment notice issued by Jurisdictional AO and held that there must be mandatory use of algorithm-based...
Improvement Trust Activities Are Charitable, Registration Can’t Be Cancelled: Punjab & Haryana High Court
The Punjab & Haryana High Court has dismissed five appeals filed by the Income Tax Department and upheld the Income Tax Appellate Tribunal’s (ITAT)...
WhatsApp Chat Has No Evidentiary Value Without Corroborative Evidence: ITAT
The Income Tax Appellate Tribunal (ITAT) Mumbai’s Bench while ruling on the evidentiary value of digital communications like WhatsApp chats in tax proceedings, dismissed...
Foreign Tax Credit Allowed Despite Nil Indian Tax Liability: ITAT
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has allowed Canon India full credit of taxes paid in Japan, even though the company had...
Taxmann Publication Misprint: Bombay HC Condones 509-Day Delay, Says Error in “Renowned” Bare Act Can’t Penalise Assessee
The Bombay High Court has condoned the delay of 509 Days after Taxmann Publications’s misprint misleads trust, citing that error in “Renowned Bare Act”...
Whether Issuance of Bonus Shares Is Taxable Income? Supreme Court to Examine
The Supreme Court has agreed to hear a significant tax issue that could have wide implications for companies and shareholders nationwide—whether the issuance of...
Andhra Pradesh High Court Refuses to Condone 800-Day Delay in Income Tax Appeal: Here’s Why?
The Andhra Pradesh High Court has dismissed a petition seeking condonation of an 800-day delay in filing an appeal against an Income Tax Appellate...
Income Tax Dept Failed To Give Effect To ITAT’s Order: Delhi HC Directs Rs. 36.85 Lakh Refund with 3% Interest
The Delhi High Court has ordered the Income Tax Department to refund Rs. 36,85,243 to the assessee, along with statutory interest under Section 244(1A)...
PCIT’s Can Invoke S. 263 Despite Capital Gains Issue Pending Before CIT(A): ITAT
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has upheld the exercise of revisionary jurisdiction by the Principal Commissioner of Income Tax (PCIT) under...
Possession Of Gold Within These CBDT Limits: ITAT Deletes Addition on Gold Jewellery Belonging to Assessee’s Wife and Mother
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has held that ornaments belonging to an assessee’s wife and mother, when within reasonable limits, cannot...
Payments Made To SIPCOT For Common Infrastructure Can’t Be Treated As Depreciable Assets: Madras HC
The Madras High Court has held that payments made to (SIPCOT) for common infrastructure cannot be treated as depreciable assets but may be claimed...
Supreme Court to Examine Taxability of Security Deposits in Property Deals
The Supreme Court of India is set to examine a crucial question in tax jurisprudence — whether a “security deposit” received during a property...
Gujarat High Court Quashes Criminal Prosecution for Late ITR Filing After Tax and Penalty Already Paid
The Gujarat High Court has quashed criminal proceedings initiated against the company and its directors for alleged failure to file their Income Tax return...
Bombay High Court Declares Transfer Pricing Addition ‘Non Est’ for Missing DRP Timeline; Orders Refund
The Bombay High Court has held that the Income Tax Department’s failure to give effect to the Dispute Resolution Panel (DRP) directions within the...
Dept. Acted On ‘Factually Wrong’ Grounds: Bombay HC Quashes Reopening of Assessment Against Charitable Trust
The Bombay High Court has quashed the Income Tax Department’s move to reopen the assessment of a charitable trust for AY 2018–19, holding that...
Bombay High Court Quashes Income Tax Reassessment Against A Company Converted Into LLP
The Bombay High Court has quashed a reassessment notice and subsequent assessment order issued by the Income Tax Department to a company that had...
Income Tax Assessment Doesn’t Bar Separate Benami Proceedings: Kerala High Court
The Kerala High Court has dismissed a writ petition filed by two assessees challenging show-cause notices issued to them under Section 24(1) of the...
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