Latest Income Tax News, Updates & Judgments

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Changing Company Name & PAN Shifts Jurisdictional Income Tax Officer: Supreme Court sustains Quashing of Escaped Income Notice [Read Order]

The Supreme Court of India recently declined to interfere with a ruling of the Gujarat High Court by which it quashed an income tax reassessment...

No Substantial Question of Law Found: SC Upholds MP HC Order Affirming ITAT’s Deletion of ₹3.73 Cr...

Section 11 Exemption Cannot Be Denied for Belated Form 10B Once Delay is Condoned: ITAT [Read Order]

Admission of Additional Evidence Sans Rule 46A(3) Compliance Invalid: ITAT Revives ₹1.77 Cr...

400 Days Delay in Filing 10AB Held Bona Fide: ITAT Restores Rotary Club Trust’s 12AB & 80G...

Perverse Finding by CIT(A) from Same Documents before AO: Chhattisgarh HC sustains Deletion of ₹4.89 Cr Income Tax Addition [Read Order]

The Chhattisgarh High Court recently dismissed an appeal filed by a Deputy Commissioner Of Income Tax, noting that no new evidence had been produced at any of the appellate stages that were not...

Ex-Parte Order after 10 Notices Not Final: ITAT Remands ₹64.12 Lakh S. 69C Disallowance [Read Order]

The Income Tax Appellate Tribunal, Mumbai Bench (ITAT), has held that an ex-parte appellate order passed without adjudicating issues on merits cannot be treated as final merely because multiple...

Delayed Income Tax TDS Deposit Does Not Extinguish Criminal Liability, Managing Director Must Face Trial: Delhi HC [Read Order]

In a recent ruling, the Delhi High Court held that belated deposit of Tax Deducted at Source (TDS) does not extinguish criminal liability and that a Managing Director cannot avoid prosecution...

Supreme Court Upholds ITAT Order Restoring Income Tax Appeal Despite Pending Settlement Proceedings [Read Order]

The Supreme Court has upheld the order of the Income Tax Appellate Tribunal (ITAT) restoring an income tax appeal even though settlement proceedings before the Income Tax Settlement Commission were...

Mere Change in Head of Loss Does Not Constitute Under-Reporting u/s 270A: ITAT Deletes ₹15.19 Cr Penalty [Read Order]

The Income Tax Appellate Tribunal, Mumbai Bench (ITAT), held that a mere change in the head under which a loss is classified cannot be treated as under-reporting of income for the purpose of...

Revenue’s “No ITR Filed” Claim Backfires: Supreme Court sustains Deletion of Income Tax Addition made without Proof [Read Judgement]

The Supreme Court has declined to interfere with a ruling by the Gujarat High Court by which a reassessment initiated on a mistaken premise was quashed along with the deletion of an income tax...

Reopening of Assessment u/s 147 Invalid Due to Defective PCIT Approval: ITAT Quashes Entire Reassessment [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961 are void ab initio when the mandatory...

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