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Mere Suspicion From Transaction Report Can’t Justify Income Tax Reassessment Without Supporting Material: Gujarat High Court

The Gujarat High Court has quashed reassessment proceedings involving an alleged income escapement of...

Business Expenditure Can’t Be Disallowed Merely Because No Corresponding Income Was Booked: Gujarat High Court

The Gujarat High Court has held that expenditure incurred wholly and exclusively for business...

Foreign Telecom Payments By Jio Not Royalty or FTS: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed two appeals...

TDS Return Filed Within Due Date Rejected Weeks Later: Deductors Question Late Fee for Portal-Side Processing Delay

A serious concern has emerged over the functioning of the new TDS filing and...

No S. 56(2)(x) Addition Merely Due to Higher Stamp Value on Delayed Registration of Court-Enforced Property Deal: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that a...

Separate Addition for Demonetisation Cash Deposit Can’t Survive Once Income Is Estimated: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that where...

TDS Credit Can’t Be Proportionately Denied Merely Due to Form 26AS-Revenue Mismatch: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has restored to the...

S. 68 Can’t Apply to Loan Receivable Shown as Debit Balance: ITAT 

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that an...

Suspicion Over Penny-Stock Price Rise Cannot Sustain S. 68 Addition Without Transaction-Specific Evidence: ITAT 

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that an...

COVID-19 Transfer Pricing Adjustment Can’t Be Rejected Merely Because Pandemic Affected All Enterprises: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that a...

Pending TDS Liability Appeal Can Directly Impact S. 40(a)(i) Disallowance: ITAT 

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has restored to the...

Same-Day ‘Approved’ Sanction Doesn’t Make Reassessment Mechanical: ITAT 

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that approval...

Latest articles

JNCH Cuts Import Cargo Release Time by 9.6% Despite 16% Rise in Bills of Entry: TRS 2026

The Jawaharlal Nehru Custom House (JNCH) has recorded a significant improvement in cargo clearance...

Delay in Reassessment of Bills of Entry: Bombay HC Directs Customs to Reassess IGST Liability Within Eight Weeks

The Bombay High Court while noting that there is the delay in reassessment of...

GST Proceedings Assigned to New Officer After SCN; Assessee Didn’t Contest Proceedings: Karnataka High Court Quashes Orders and Demands

The Karnataka High Court has quashed GST assessment orders and consequential demands raised against...

Mere Suspicion From Transaction Report Can’t Justify Income Tax Reassessment Without Supporting Material: Gujarat High Court

The Gujarat High Court has quashed reassessment proceedings involving an alleged income escapement of...