Latest Income Tax News, Updates & Judgments

Top

Begin typing your search above and press return to search.

Home
»
Income Tax

Income Tax Refund Cannot Be Denied Merely Due to Non-Reflection in Form 26AS: Delhi HC [Read Order]

Manu Sharma

In a significant ruling, the Delhi High Court has held that the Income Tax Department cannot deny a taxpayer's refund claim merely because the Tax...

Single Satisfaction Note Sufficient u/s 153C When Same Assessing Officer Handles Both Searched...

Guidance Value of Land or Building Should be used to Determine Consideration Where Transfer Value of...

Delhi HC quashes Income Tax Reassessment Notices issued after Completion of Assessment Proceedings...

Assessee's Admission not a valid Ground for Income Tax Addition: Rajasthan HC [Read Order]

Non-Filing of Evidence: ITAT upholds Addition of Sundry Creditors Balances [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Assessing Officer ( AO )’s addition of Rs. 60,529 to the income of the assessee due to non-filing of evidence for...

Madras HC Rejects Plea to quash Income Tax Case Transfer after Incriminating Evidence Found in Kolkata [Read Order]

Madras High Court, in a recent ruling, dismissed a writ petition challenging the transfer of an income tax case to the Central Circle in Kolkata, following the discovery of incriminating...

Insufficiency of Verification efforts by AO, CIT(A): ITAT deletes Addition w.r.t. Sundry Creditors [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the additions of Rs. 90,79,428 and Rs. 29,60,999 related to sundry creditors due to insufficient verification efforts by the...

S.54F Deduction Fully Allowable on Capital Gains Reinvestment with Proforma Purchaser: ITAT [Read Order]

In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Pune Bench held that full deduction claim under Section 54F of the Income Tax Act 1961 (ITA) is allowable on capital gains...

Distribution Revenue from US Broadcasting Company not Taxable as “Royalty” under India-US DTAA [Read Order]

In a significant ruling, the Income Tax Appellate Tribunal ( ITAT ) Delhi Bench has ruled that the distribution revenue received by Turner Broadcasting System Asia Pacific, Inc. ( TBSAP ), a...

Set back to Nayara: ITAT Confirms ₹2,513 Crore Loss Disallowance, cites Inter-Corporate Deposits as Sham Due to Missing SPA and Fair Valuation [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) confirms Rs. 2513 Crore loss disallowance of the assessee Nayara Energy Ltd. The tribunal cited the lack of a Share Purchase Agreement ( SPA...

Deemed Assessment u/s 22(4) TNVAT can be issued if No Returns Filed, Considered as First Assessment Order: Madras HC dismisses Petition challenging Limitation Period [Read Order]

In a recent ruling, the Madras High Court dismissed the petition challenging the assessment order's limitation period, stating that deemed assessment under section 22(4) of Tamil Nadu Value Added Tax...

Prev Page Next Page