Latest Income Tax News, Updates & Judgments

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Income Tax Commissioner Cannot Deny Waiver of Interest u/s 234C Arbitrarily, Must Pass Reasoned Order: Karnataka HC [Read Order]

The Karnataka High Court held that the Income Tax Commissioner cannot deny waiver of interest under Section 234C of Income Tax Act, 1961 through a ...

ITAT Upholds Revision Order Against Ambuja Cements, Flags Unverified INSIGHT Portal Inputs on...

ITAT Bangalore’s Binny Bansal Ruling on Tax Residency: Key Lessons for HNIs Relocating Overseas

Only Final Stamp Valuation Determined by Collector Applies u/s 50C: ITAT allows Full Section 54F...

SFIO-SEBI Findings on NSEL-CCM Scam Not Enough for additions when Trades are Fully Disclosed: ITAT

Supreme Court Dismisses CBDT SLPs against Telangana HC Order Quashing Income Tax Notices issued to Telangana Pollution Control Board [Read Judgement]

The Supreme Court has refused to interfere with the Telangana High Court judgment which granted relief to the Telangana State Pollution Control Board and quashed the Income Tax Department’s action...

Callous Approach by CIT(A) for Summarily Dismissing Appeal: ITAT Restores Appeal Dismissed Over Mere Clerical Error [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has set aside an order passed by the first appellate authority under the faceless regime, holding that an appeal cannot be dismissed ...

Madras HC Upholds ₹1.5 Crore Income Tax Penalty on Actor Vijay, Holds Notice issued within Limitation Period

In a recent ruling, the Madras High Court upheld a Rs. 1.50 crore income tax penalty imposed on actor-turned-politician Vijay, and held that the Income Tax Department’s notice and proceedings were...

Madras High Court - Income Tax Penalty - Actor Vijay - Limitation Period - Tax Penalty Case - Actor Vijay income tax case - taxscan

Political Donation Deduction Cannot be Denied on General Presumptions Alone: ITAT allows S. 80GGC Claim [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Raipur Bench, has held that deduction claimed for political donations under Section 80GGC of the Income Tax Act, 9161 cannot be denied merely on the...

Selective Comparison of Expense Heads across AYs Cannot Justify Disallowance without Evidence: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that an Assessing Officer cannot make ad hoc disallowances merely by selectively comparing higher expenses under certain heads...

Reimbursement of Expenses Requires Fresh Examination before Treating as International Transaction: ITAT sets aside Transfer Pricing Adjustment [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has set aside a transfer pricing adjustment made in a case involving reimbursement of expenses between associated enterprises. The Bench...

Charitable Trust’s Income Tax Exemption Disallowed by CPC without Prior Intimation: ITAT Restores Matter to AO [Read Order]

The Income Tax Appellate Tribunal(ITAT), Jodhpur Bench, held that denying exemption claimed by charitable trust under Section 11 during processing by the Central Processing Centre (CPC) without...