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Income Tax Officer Can’t Use Last-Minute Valuation Reference to Extend Assessment Limitation: Gujarat High Court

The Gujarat High Court has quashed an Income Tax Department reference made to the...
Direct Tax

Transport Expenses Can’t Be Disallowed After AO Verifies Transactions as Genuine: Income Tax Appeal Allowed [READ ODER]

The National Faceless Appeal Centre (NFAC) has deleted an addition of ₹42.09 lakh made...
Direct Tax

Mere Surge in Penny Stock Price Cannot Make Capital Gains Bogus Without Evidence Linking Assessee to Manipulation: Madras High Court

The Madras High Court has held that a steep and commercially inexplicable increase in...
Direct Tax

No Mandatory Rs.75K Or Rs. 1.50 Lakh Late Fee on Delayed Tax Audit Report for FY 2025-26

Taxpayers filing their Tax Audit Reports for Financial Year 2025-26 after the prescribed deadline...
Direct Tax

BookMyShow Convenience Fee Is Not Commission; No TDS Liability U/S 194H: ITAT

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

Income Tax Reassessment Notice Issued Beyond 3 Years With CIT’s Approval Invalid: ITAT

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has quashed reassessment proceedings...
Direct Tax

S. 68 Addition Can’t Survive After Taxpayer Proves Lenders’ Identity, Creditworthiness, Loan Genuineness: ITAT

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

‘Reason to Suspect’ Can’t Justify Income Tax Reassessment: Bombay High Court Quashes S. 148 Notice Over ₹15.56 Crore FDI

The Bombay High Court has quashed an Income Tax reassessment notice involving alleged escaped...
Direct Tax

Parliamentary Panel Flags ‘Punitive’ Income Tax Regime, Questions Notices, Official Overreach and Rising Litigation

Members of the Parliamentary Standing Committee on Finance, cutting across political parties, have expressed...
Direct Tax

ITO Cuts Rs. 1.42 Lakh Income Tax Demand to Rs. 671 Despite S. 154 Time-Limit Objection [READ ORDER]

In a significant taxpayer-relief case, the Income Tax Department has reduced a demand of...
Direct Tax

Bombay High Court Quashes Rs. 20.16 Crore TP Adjustment as Mandatory SCN Was Not Served

The Bombay High Court has set aside a transfer pricing order proposing an adjustment...
Direct Tax

Notice to Partnership Firm Sufficient for Auction of Firm’s Property to Recover Income Tax Dues: Madras High Court

The Madras High Court has ruled that the Income Tax Department is not required...
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Indirect Taxes

Service Tax Demand Can’t Be Based Solely on Form 26AS and Profit and Loss Account; Director’s Salary Not Taxable: CESTAT

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Allahabad, has set aside a...
Indirect Taxes

Service Tax Appeal Filed Beyond Statutory Three-Month Limit Can’t Be Entertained: CESTAT

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Allahabad, has held that the...
Direct Tax

Income Tax Officer Can’t Use Last-Minute Valuation Reference to Extend Assessment Limitation: Gujarat High Court

The Gujarat High Court has quashed an Income Tax Department reference made to the...
Indirect Taxes

Service Tax Penalty Can’t Survive When Assessee Acted on Dept.’s Own View of Non-Taxability: Delhi High Court

The Delhi High Court has set aside a ₹4.5 lakh service tax penalty imposed...