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Capital Addition Can’t Be Taxed on Assumptions in Reassessment: Allahabad HC

The Allahabad High Court has upheld the deletion of a ₹2.73 crore addition made...
Direct Tax

Rs. 1.88 Crore Tax Addition Falls As Scrutiny Notice Was Issued By Officer Without Jurisdiction: ITAT

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

Gifted Shares Retain Donor’s Holding Period, But Indexation on Taxed Value Starts From Gift Year: ITAT

The Income Tax Appellate Tribunal (ITAT), Chennai, has held that the previous owner’s holding...
Direct Tax

Unexplained Cash Transactions Can’t Be Taxed At Ad Hoc 8% Without Legal Basis: Delhi HC

The Delhi High Court has set aside an Income Tax Appellate Tribunal (ITAT) direction...
Direct Tax

Share Loss Set-Off Against Slump Sale Gains Can’t Alone Trigger GAAR: Telangana High Court

The Telangana High Court has set aside directions invoking the General Anti-Avoidance Rules (GAAR)...
Direct Tax

High School Fees And Surplus Alone Can’t Justify Denial Of Charitable Tax Registration: ITAT

The Income Tax Appellate Tribunal (ITAT), Hyderabad, has held that charging substantial school fees...
Direct Tax

Married Daughters Can Keep Jewellery at Parental Home: ITAT Deletes Additions

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

Deduction For Expenses Disallowed Over TDS Default Can Be Claimed After Tax Payment Despite Omission In Return: ITAT

The Income Tax Appellate Tribunal (ITAT), Rajkot Bench, has allowed a deduction of ₹10,48,139...
Direct Tax

Cross-Objections Maintainable In Income Tax Appeals U/s 260A, Subject To Substantial Question Of Law: Calcutta HC 

The Calcutta High Court has held that a respondent can file cross-objections in an...
Direct Tax

Director Can’t Personally Challenge Income Tax Search Against Company Without Showing He Is Affected Person: Karnataka HC

The Karnataka High Court has declined to entertain an additional director’s personal challenge to...
Direct Tax

Taxpayer’s Missed Cross-Examination Can’t Be Held Against Him After Fresh Opportunity Is Granted; Rs. 1 Crore Addition Sent Back For Reassessment: Delhi HC

The Delhi High Court has set aside an income tax assessment order involving a...
Direct Tax

Income Tax Penalty Proceedings Must Remain in Abeyance While Assessment Appeal Is Pending Before ITAT: Delhi HC

The Delhi High Court has held that penalty proceedings must be kept in abeyance...
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Company & PMLA

No Mini-Trial at Cognizance Stage: Directors’ Claim of Cooperation Must Be Examined During Trial

The Karnataka High Court has refused to quash criminal proceedings against two individuals facing...
GST

Missing Seized Records Must Be Considered While Testing ITC Claim; Duplicate GST Demands Ordered Corrected: Delhi HC

The Delhi High Court has held that the tax department’s inability to furnish seized...
Direct Tax

Capital Addition Can’t Be Taxed on Assumptions in Reassessment: Allahabad HC

The Allahabad High Court has upheld the deletion of a ₹2.73 crore addition made...
GST

GST Appeal Can’t Be Rejected Without Addressing Taxpayer’s Grounds: Allahabad HC

The Allahabad High Court has set aside an appellate order concerning cancellation of GST...