![Relief for Viacom 18 Media: ITAT Rules AO Made Adequate Inquiry on ₹195.32 Cr Depreciation of Goodwill, Quashes PCIT’s Revision [Read Order]](https://images.taxscan.in/h-upload/2025/12/12/500x300_2111603-relief-viacom-18-media-itat-rules-ao-adequate-inquiry-depreciation-goodwill-quashes-pcits-taxscan.webp "Relief for Viacom 18 Media: ITAT Rules AO Made Adequate Inquiry on ₹195.32 Cr Depreciation of Goodwill, Quashes PCIT’s Revision [Read Order]")
Relief for Viacom 18 Media: ITAT Rules AO Made Adequate Inquiry on ₹195.32 Cr Depreciation of Goodwill, Quashes PCIT’s Revision [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) set aside a revisional order passed by the Principal Commissioner of Income tax (PCIT)...
![Derived From’ Means First-Degree Nexus: Supreme Court Rejects NCDC’s Claim for Deduction u/s 36(1)(viii) of Income tax [Read Judgement]](https://images.taxscan.in/h-upload/2025/12/11/250x150_2111472-derived-nexus-supreme-court-rejects-ncdcs-claim-deduction-us-361viii-of-income-tax-taxscan.webp "Derived From’ Means First-Degree Nexus: Supreme Court Rejects NCDC’s Claim for Deduction u/s 36(1)(viii) of Income tax [Read Judgement]")
![Interest from Bank Deposit Does Not qualify for S. 36(1)(viii) Deduction: SC says it’s Not Income ‘Derived From’ Long-Term Finance [Read Judgement]](https://images.taxscan.in/h-upload/2025/12/11/250x150_2111469-interest-from-bank-deposit-qualify-s-361viii-deduction-sc-income-derived-long-term-finance-taxscan.webp "Interest from Bank Deposit Does Not qualify for S. 36(1)(viii) Deduction: SC says it’s Not Income ‘Derived From’ Long-Term Finance [Read Judgement]")
![Income tax Deduction u/s 36(1)(viii) Limited to Profits ‘Derived From’ Long-Term Finance: Supreme Court says ‘No Deduction’ to Incidental or Ancillary income [Read Judgement]](https://images.taxscan.in/h-upload/2025/12/11/250x150_2111464-income-tax-deduction-us-361viii-limited-profits-derived-from-long-term-finance-supreme-court-deduction-incidental-ancillary-income-taxscan.webp "Income tax Deduction u/s 36(1)(viii) Limited to Profits ‘Derived From’ Long-Term Finance: Supreme Court says ‘No Deduction’ to Incidental or Ancillary income [Read Judgement]")
Relief to Anil Ambani: ITAT deletes Addition based on BUP ID, Says it’s just Internal Identifier Not Bank A/c [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) held that Business Partner Identification Numbers (BUP ID)s were not bank account but they were internal identifiers and upheld the ...
![Relief to Anil Ambani: ITAT deletes Addition based on BUP ID, Says it’s just Internal Identifier Not Bank A/c [Read Order]](https://images.taxscan.in/h-upload/2025/12/10/500x300_2111304-relief-anil-ambani-itat-deletes-addition-based-bup-id-says-internal-identifier-taxscan.webp "Relief to Anil Ambani: ITAT deletes Addition based on BUP ID, Says it’s just Internal Identifier Not Bank A/c [Read Order]")
Wrong Sanction for Reopening u/s 151 Invalidates Income Tax Proceedings: Supreme Court Upholds Bombay HC Ruling [Read Order]
In a recent development, the Supreme Court upheld the Bombay High Court’s ruling that the Income Tax Department had obtained approval from the wrong authority for reopening an assessment, rendering...
![Wrong Sanction for Reopening u/s 151 Invalidates Income Tax Proceedings: Supreme Court Upholds Bombay HC Ruling [Read Order]](https://images.taxscan.in/h-upload/2025/12/09/500x300_2111176-invalidates-income-tax-proceedings-taxscan.webp "Wrong Sanction for Reopening u/s 151 Invalidates Income Tax Proceedings: Supreme Court Upholds Bombay HC Ruling [Read Order]")
![UAE Company Earned ₹4+ Cr Interest in India, No ITR Required Despite TDS: Here’s Why [Read Order]](https://images.taxscan.in/h-upload/2025/12/08/500x300_2110979-uae-company-earned-interest-india-itr-required-despite-tds.webp "UAE Company Earned ₹4+ Cr Interest in India, No ITR Required Despite TDS: Here’s Why [Read Order]")
![Deemed Dividend u/s 2(22)(e) Inapplicable to Sister-Concern Loans: ITAT Deletes Addition [Read Order]](https://images.taxscan.in/h-upload/2025/12/08/500x300_2110916-itat-ahmedabad-loans-deemed-dividend-sister-concern-inapplicable-itat-deletes-addition-taxscan.webp "Deemed Dividend u/s 2(22)(e) Inapplicable to Sister-Concern Loans: ITAT Deletes Addition [Read Order]")
Old v/s New Limitation: ITAT Quashes AY 2013‑14 Reopening as Old Regime Bars Reassessment Despite New 10‑Year Rule u/s 149 [Read Order]
In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ), Chennai, has struck down reassessment proceedings against the respondent for Assessment Year (AY) 2013‑14, holding that the notice...
![Old v/s New Limitation: ITAT Quashes AY 2013‑14 Reopening as Old Regime Bars Reassessment Despite New 10‑Year Rule u/s 149 [Read Order]](https://images.taxscan.in/h-upload/2025/12/08/500x300_2110910-itat-chennai-reassessment-old-vs-new-limitation-reopening-old-regime-bars-taxscan.webp "Old v/s New Limitation: ITAT Quashes AY 2013‑14 Reopening as Old Regime Bars Reassessment Despite New 10‑Year Rule u/s 149 [Read Order]")