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Income Tax Act 2025

ITAT dismisses firm's appeal, upholds tax on undisclosed income from cash and stock discovered in survey [Read Order]

Adwaid M S

The Income Tax Appellate Tribunal (ITAT), Pune bench, has dismissed an appeal filed by a partnership firm and upheld a tax demand concerning...

ITAT Sides with Diamond Trader, Says Survey Stock Query Was Fully Probed by AO [Read Order]

“Artificial intelligence driven”: Karnataka HC refuses to Step in as ITAT President already...

Auto Parts Maker’s Dies and Maintenance Expenses are Revenue in Nature: ITAT dismisses Revenue’s...

Non-Payment of Self-Assessment Tax u/s 140A Renders Appeal Not Maintainable: ITAT Sets Aside...

Penalty u/s 221(1) Valid for Non-Payment of Admitted Tax Liability: ITAT [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) restored the penalty levied under Section 221(1) of the Income Tax Act, 1961, for the Assessment Year (AY) 2007-08 due to the...

Why Transfer Pricing Matters: Practical Challenges and Judicial Developments in India

Transfer Pricing (TP) has become one of the most important and complex areas in international taxation. It governs how multinational companies price goods, services, intangibles, and financial ...

Payments for Bandwidth Services Not Royalty under India–UAE DTAA: ITAT Mumbai Deletes ₹1.55 Crore Addition [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that payments received by UAE-based iSAT Africa Ltd. for providing VSAT bandwidth and network connectivity to BT Global Communications...

Deemed Dividend u/s 2(22)(e) Not Attractable Where Borrower is Not Shareholder: ITAT Deletes Rs. 49.56 Lakh Addition [Read Order]

The Indore bench of Income Tax Appellate Tribunal (ITAT) held that the addition of Rs. 49,56,118/- made by the AO as deemed dividend under section 2(22)(e) was unsustainable, as the assessee-company...

Relief u/s 89(1) on Salary Arrears Already Rectified: ITAT Deletes Addition, Holds CIT(A)’s Observation on Interest Income Infructuous [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) deleted the addition since the relief under Section 89 (1) had already been granted via the AO’s rectification and held that the CIT(A)’s...

Limited Scrutiny Assessment: ITAT Deletes Rs. 8.68 Lakh Presumptive Income Addition u/s 44AD, Holding AO Exceeded Jurisdiction [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) deleted Rs. 8.68 Lakh presumptive income addition under Section 44AD, holding that the AO exceeded its jurisdiction when the matter was only...

ITAT Quashes S.148 Notices Due to Invalid Sanction and Failure to Satisfy S. 149(1)(b) Conditions [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) quashed the reassessment notices issued under Section 148 of the Income Tax Act for Assessment Years (AYs) 2015-16 to 2019-20 due to...