The Income Tax Appellate Tribunal, Delhi bench has held that the proceedings against the amalgamated company after amalgamation cannot be sustainable under the Law and thereby quashed the income tax proceedings against Honda Cars India

The Mumbai bench of the Income Tax Appellate Tribunal recently ruled that the amount collected and paid to the government cannot be included to the total income of the assesse for the purpose of computing

In a recent decision, the Pune bench of the Income Tax Appellate Tribunal held that the compensation paid to the buyer for delayed possession of flat is business expense and therefore, it is deductible from

The Kolkata bench of Income Tax Appellate Tribunal comprising N.K. Saini, (Accountant Member) and Amit Shukla, (Judicial Member) said that penalty cannot be levied when the addition on account of deeming fiction is based on

The Ahmedabad bench of the Income Tax Appellate Tribunal, in recent ruling opined that the assessee is free to choose the concerns to which it wants to extend the credit facility. The Assessing Officer cannot

The Delhi High Court has recently dismissed a petition by P C Financial Services Private Limited observing that the provisional attachment order has expired. Recently, the Reserve Bank of India (RBI) has cancelled the certificate

In a major relief to Rolls Royce Industrial Power India Ltd, Justices S Muralidhar and Chander Sekhar held that S. 147/148 reassessment has to be based on "fresh material". In the opinion of the bench,

The Income Tax Appellate Tribunal, Delhi Bech “C” quashes the order of reassessment passed on grounds of incorrect facts, non-application of mind and failure to furnish reasons to the assessee. In the appeal preferred by

In a recent case, the Delhi High Court reassessment proceedings under section 153 A of the Income Tax Act, 1961 cannot be triggered in the absence of incriminating material. The appellant/revenue, seeking condonation of delay

The Income Tax Appellate Tribunal, Delhi bench has held that the Land Acquisition Office is not liable to pay TDS under section 194A of the Income Tax Act, 1961 on the payment of Interest to

The New Delhi bench of the Income Tax Appellate Tribunal recently declared that deposit made by subscriber of Inter Corporate Deposit, issued by company on fixed rate of interest, cannot be treated as loan. A

While upholding an order of revision, the Income Tax Appellate Tribunal, Kolkata bench recently held that non-initiation of penalty proceedings in the order of assessment would amount to error causing prejudice to the interest of

The Delhi Bench of the Income Tax Appellate Tribunal held that deduction allowed under Sec. 80-IA of Income Tax Act had to be reduced from the profits for computing deduction under Sec. 80HHC of Income

The Indore Bench of the Income Tax Appellate Tribunal directed the Assessing Officer to re-examine the additions made for years in respect of which assessments were completed, as well as an addition made on the

In a significant ruling on the Interest on enhanced compensation for land acquisition, the Delhi bench of the Income Tax Appellate Tribunal has held that addition will not sustain even if TDS was deducted. The