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Retail/After-Sales Businesses Can’t Be Compared With OEM Wholesale Trading: ITAT Deletes TP Adjustments 

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has granted major relief...

CIT(A) Must Give Independent Reasons While Reversing AO; ITAT Need Not Act as First Appellate Authority: Delhi HC

The Delhi High Court has reiterated that appellate authorities under the Income Tax framework...

Cash Seized Without Verifiable Source Can Be Treated as Benami Property; Filing ITR Later Doesn’t Bar Action: SAFEMA Appellate Tribunal

The Appellate Tribunal under the Prohibition of Benami Property Transactions (PBPT) Act has dismissed...

ITAT Has No Power to Condon Delay Beyond Six Months in Rectification Applications U/s 254(2)

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that it...

ITAT Quashes Nine S. 153C Assessments Over Defective Satisfaction Note and Limitation Issues

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed nine assessments...

Appellate Authority Must Decide Whether AO Exceeded Limited Scrutiny Scope Without Converting Case Into Full Scrutiny: ITAT

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has restored a matter...

Payments for Overseas ‘Live Sports Broadcasting Rights’ Not Taxable as Royalty: ITAT

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the deletion...

Mere Delay Can’t Nullify Departmental Proceedings Against Retired Principal Commissioner of Income Tax: Gauhati HC

The Gauhati High Court has held that delay in initiating disciplinary proceedings against a...

Company Expenses Can’t Be Disallowed as “Personal Expenses”; No Personal Use Concept Applies to a Company: Delhi HC

The Delhi High Court has held that expenses incurred by a company on telephones...

S. 148 Return Accepted Without Additions, S. 270A Penalty for Under-Reporting Can’t Be Sustained for Non-Filing of Original Return: ITAT

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

Assessment Order Passed Beyond Limitation Period Invalid; Rs. 287 Crore Addition Based on Third-Party Seized Material Quashed: ITAT

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has granted major relief...

ITAT Rectification Power U/s 254(2) Can’t Be Used To Re-Argue Merits: Allahabad HC 

The Allahabad High Court has held that the Income Tax Appellate Tribunal’s power under...

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The Institute of Chartered Accountants of India (ICAI), through its GST & Indirect Taxes...