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₹8.80 Cr Addition cannot be made Solely on Estimation and Extrapolation Without Corroborative Evidence: ITAT sets aside Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench, held that the Assessing Officer (AO) has erred in making the addition amounting to...

Dormant Partner- Wife Not Vicariously Liable for Benami Transactions: Madras HC confirms Charges...

Payments by Deloitte for Global Brand, Communication & IT Support Not ‘Royalty’: ITAT rules No TDS...

Sale Proceeds Recorded in Books Cannot be Recharacterized as Unexplained Cash Credit: ITAT Deletes...

ITAT Sides with Clothing Firm, Rules Double Taxation on Already Declared Sales is Illegal [Read...

Delhi HC Quashed Reassessment as AO’s 95%-5% Revenue Split Dispute Found Unjustified: Supreme Court Declines to Intervene [Read Order]

In a recent ruling, the Supreme Court of India refused to interfere with the Delhi High Court’s decision quashing a reassessment initiated under Section 148 of the Income Tax Act, 1961, against ...

MEIS Subsidy Classification a Debatable Issue, Cannot be Rectified u/s 154: ITAT Upholds Deletion of ₹1.84 Crore Taxable Income [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai, has dismissed the Revenue’s appeal on the treatment of Merchandise Exports from India Scheme (MEIS) subsidy, ruling that its classification...

Section 115BBE of Income Tax Act Applies on Transactions On or After 01.04.2017 Only: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi, held that the provisions of Section 115BBE of the Income Tax Act, 1961, are applicable only to transactions made on or after 01 April 2017....

Factual Correlation of Seized Material Must Be Done by Authorities, Court Cannot Step into AO’s Role: Bombay HC [Read Order]

In a recent ruling, the Bombay High Court held that factual correlation of seized documents must be carried out by the statutory authorities, and that the Court cannot be converted into performing ...

Chhattisgarh HC Restores Dismissed Tax Case Against SECL, Grants 7 Days to Cure Procedural Defaults [Read Order]

The Chhattisgarh High Court has allowed a Miscellaneous Criminal Case (MCC) seeking the restoration of a previously dismissed tax case against South Eastern Coalfields Ltd (SECL). The case, Tax...

Setback to Indian National Congress: ITAT denies ₹199 Crore Income Tax Exemption Over Late Filing & Cash Donations Breach [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal of the Indian National Congress (INC) against the denial of Rs. 199.15 crore income tax exemption under Section 13A...

Chhattisgarh HC Dismisses Income Tax Appeal in View of Revised ₹2 Crore Monetary Limit, Following CBDT Circular

The Chhattisgarh High Court at Bilaspur dismissed the Income Tax Department’s appeal against individual taxpayer holding that the tax effect involved was below the monetary threshold of ₹2 crore as...