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Delhi High Court Upholds ITAT Order: Dismisses Revenue's Appeal Against DCF-Based Valuation of Unquoted Shares

Saagarika Gopinath

The Delhi High Court upheld the Income Tax Appellate Tribunal (ITAT)’s order and dismissed the revenue’s appeal against the discounted cash flow...

Commercial Decisions Must Be Judged from Taxpayer’s Perspective, Not the Income Tax Department: ITAT...

Loan Treated as Deemed Dividend u/s 2(22)(e): ITAT Sets Aside CIT(A) Order

Senior Citizen Found with ₹95.89 Lakh Cash on Train Claimed It Belonged to Firm: ITAT Upholds...

Explanation 2 to S. 263 Doesn’t Give Unfettered Revision Powers: ITAT Quashes PCIT’s Order [Read...

ITAT Confirms Legitimacy of Aries Agro’s Cash Deposits During Demonetisation Citing Clear and Verified Records [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) upheld the deletion of additions under Section 68 of the Income Tax Act, 1961, concerning unexplained cash credits, confirming that Aries...

AO’s Action Based on ADIT Report Equals ‘Borrowed Satisfaction’: ITAT Quashes Reassessment Proceedings [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) quashed reassessment proceedings initiated against the assessee by noting that the Assessing Officer (AO) had acted solely on a report...

ITAT Directs AO to Verify R&D Expense Allocation for Piramal Enterprises Amid Unproven Link to Baddi Unit’s Manufacturing [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to verify the allocation of research and development (R&D) expenses claimed by Piramal Enterprises...

PCIT Revises order of AO on Goodwill Depreciation and Loan Transaction: ITAT Overturns Order citing Verified Transaction [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside the revisionary order passed by the Principal Commissioner of Income Tax ( PCIT ), affirming the genuineness of...

AO computes Net STCG for Non-STT: ITAT Allows Set-Off Against Non-STT Gains for US Resident [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed the set-off of short-term capital losses ( STCL ) subject to Securities Transaction Tax ( STT ) against short-term capital gains...

No Basis for Cooperative Bank Status: ITAT Restores Society Status and Remands Disallowance Matter [Read Order]

The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) restored its status as a Cooperative Society under the Income Tax Act, 1961, and set aside the Assessing Officer’s (AO) classification of...

S.14A Disallowance under Income Tax Valid Only on Investments Earning Exempt Income: ITAT in Jindal Pipes' Matter [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) ruled that disallowance under Section 14A of Income Tax Act,1961 is valid only on investments that actually earn exempt income, rejecting the...