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Relief to Toyota: ITAT upholds quashing of Separate Benchmarking of Royalty after Margin accepted to be at ALP [Read Order]

Avinash Kurungot

The Income Tax Appellate Tribunal, Bangalore recently granted relief to Toyota, upholding the order of a Transfer Pricing Officer ( TPO ) in which...

ITAT Restores Trust's Corpus Donations Case for Fresh Hearing Over Notice and Email ID Issues [Read...

Failure to Consider Income Tax Assessee's Request for Personal Hearing Amounts to Violation...

Karnataka HC quashes Income Tax Notice u/s 148, Grants Chance to Submit Replies before Department...

Taxability of Interest Income Depends on the Investor, Not the Name on the Deposit: ITAT [Read...

ITAT upholds Staff Welfare Addition made by AO due to No Evidence Submitted by Assessee [Read Order]

In a recent ruling, the Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) found adequate allowed salary and rent claims made by the assessee due to adequate proof and upheld the addition of...

Income Tax Case Digest: Addition on Bogus Purchases under Income Tax Act ( PART 2 )

This is the Second part of the Case Digest on ‘Addition on bogus purchases’ under Income Tax Act. Revision u/s 263 on Ground of Failure to Collect TCS Invalid during Pendency of First Appeal: ITAT...

Purchases Treated as Bogus in Another Year Cannot Solely Justify Similar Treatment for Year Under Consideration: ITAT [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that purchases treated as bogus in one financial year cannot automatically be presumed bogus in another year without sufficient...

ITAT deletes Addition on Alleged Bogus LTCG due to Procedural Lapses and Denial of Cross-Examination Rights [Read Order]

In a recent ruling, the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the additions related to alleged bogus Long-Term Capital Gains (LTCG) due to procedural lapses and...

Incomplete Disclosure of Seized Material and Statements: Karnataka HC quashes Income Tax Assessment Order u/s 147 [Read Order]

In a recent ruling, the Karnataka High Court quashed the assessment order under Section 147 of the Income Tax Act, 1961, due to incomplete disclosure of seized materials and statements by the...

Outstanding Income Tax Dues Cannot Be Recovered from Directors of Public Company u/s 179: Rajasthan HC [Read Order]

The Rajasthan High Court, by granting relief to the directors of a public company, ruled that the outstanding income tax dues cannot be recovered from the directors under Section 179 of the Income...

Provisions u/s 14A of Income Tax Act not Applicable in Computing Book Profit u/s. 115JB: ITAT [Read Order]

Recently, the Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) held that the provisions of Section 14A of the Income Tax Act, 1961, are not applicable in computing book profit under...

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