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10% Stamp Duty Valuation Tolerance Applies To AY 2018-19: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has deleted an addition...
Direct Tax

Cash Advance From Selling House To Repay Housing Loan: ITAT Deletes Penalty

The Income Tax Appellate Tribunal (ITAT), Chennai, has deleted a ₹26 lakh penalty imposed...
Direct Tax

Search-Based Income Tax Reassessment Must Follow S. 153C, Not S. 147: ITAT

The Income Tax Appellate Tribunal (ITAT), Kolkata Bench, has held that reassessment proceedings founded...
Direct Tax

Dept. Can’t Challenge CIT(A)’s Jurisdiction After Dept. Allocates Appeal And AO Raises No Objection: ITAT

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the department’s...
Direct Tax

No TDS Default For External Development Charges Paid To HUDA: Delhi High Court Quashes Tax Demand

The Delhi High Court has quashed an income tax order treating a developer as...
Direct Tax

Charitable Services Need Not Be Free; S. 12A Registration Doesn’t Automatically Entitle Trust To 80G Approval: Delhi High Court

The Delhi High Court has held that charging a partial, subsidised or concessional amount...
Direct Tax

Challenge To Retrospective S. 147A: Allahabad High Court Stays Income Tax Reassessment Over Rs. 4 Lakh Escaped Income

The Allahabad High Court’s Lucknow Bench has stayed reassessment proceedings for Assessment Year 2017–18...
Direct Tax

Reassessment Without S. 143(2) Notice Invalid Despite Taxpayer’s Participation: Supreme Court

The Supreme Court has held that income tax reassessment proceedings are invalid when the...
Direct Tax

CBDT Priority Circular Must Yield To Statute: Allahabad High Court Orders Disposal Of Pending Income Tax Appeals Within Three Months

The Allahabad High Court has directed the Commissioner of Income Tax (Appeals), National Faceless...
Direct Tax

Income Tax Reassessment Based On Pre-April 2021 Search Material Can’t Bypass S. 153C: CIT(A) Quashes Political Donation Addition

The Commissioner of Income Tax (Appeals), through the National Faceless Appeal Centre (NFAC), has...
Direct Tax

Income Tax Reassessment On Fresh Share Overvaluation Report Valid; No Change Of Opinion Without Earlier Finding: Supreme Court

The Supreme Court has upheld the reopening of income tax assessments based on a...
Direct Tax

Irrigation Certificate and Electricity Bills Prove Agricultural Income: ITAT Deletes Unexplained Investment Addition

The Jaipur Bench of the Income Tax Appellate Tribunal (ITAT) has deleted an addition...
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Latest articles

Direct Tax

10% Stamp Duty Valuation Tolerance Applies To AY 2018-19: ITAT

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has deleted an addition...
Company & PMLA

IBC Appeal Filed Without Delay-Condonation Plea Cannot Escape 45-Day Limit: NCLAT Dismisses ED’s Appeal

The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi, has dismissed an...
Direct Tax

Cash Advance From Selling House To Repay Housing Loan: ITAT Deletes Penalty

The Income Tax Appellate Tribunal (ITAT), Chennai, has deleted a ₹26 lakh penalty imposed...
Indirect Taxes

Rs. 11,000 Crore Customs Demand: Volkswagen Cites Five-Year Limit, Centre Alleges Delayed Disclosure Before Bombay High Court

The Centre has defended its approximately ₹11,000 crore customs duty demand against Volkswagen before...