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Jurisdiction of AO u/s 153C of Income Tax Act beyond block of 10 year is invalid: Delhi HC upholds ITAT Order [Read Order]

Yogitha S. Yogesh

The Delhi High Court in its judgement upheld the Income Tax Appellate Tribunals (ITAT)’s Order finding the AO’s assumption of jurisdiction under...

Jurisdiction Transferred without Following S.127 of Income Tax Act: Himachal Pradesh HC quashes...

Reduction in Subsidiary’s Share Capital Constitutes ‘Transfer’ u/s 2(47) of Income Tax Act: Supreme...

Income Tax Annual Digest 2024: ITAT Cases [Part 26]

Income Tax Annual Digest 2024: ITAT Cases [Part 24]

ITAT Grants relief in Tax Appeals, Condones Procedural Lapses and Professional Negligence: Remands Case to CIT(A) [Read Order]

The Jaipur bench of the Income Tax Appellate Tribunal ( ITAT ), in a recent case, remanded the case back to the Commissioner of Income Tax ( Appeals ) [CIT(A)], providing the assessee an opportunity...

No Income Tax Reassessment on Incidental or Tangential Findings w/out fulfilling S.150 conditions: Delhi HC

A Division Bench of the Delhi High Court recently held that no income tax reassessment may be initiated on the basis of mere ‘incidental’ or ‘tangential’ findings without the fulfilment of due...

Relief to Jindal Saw: ITAT Rules Excise Duty Demand not Chargeable to Tax being Capital Receipt in Nature [Read Order]

In a relief to Jindal Saw Ltd, the Income Tax Appellate Tribunal ( ITAT ) of Delhi ruled that the excise duty refund received by the company is not chargeable to tax, classifying it as a capital...

Commission for Credit Cards issued by Foreign Bank Branches not Taxable in India: Delhi HC [Read order]

In a significant ruling, a Division Bench of the Delhi High Court held that payments related to credit cards issued by foreign branches of banks are not subject to tax in India. The central issue...

Delhi High Court - Delhi HC - Credit Card - Commission for Credit Cards - Foreign Bank - Foreign Bank Branches - TAXSCAN

Explanation Inserted to S. 14A of Income Tax Act vide Finance Act, 2022 Applicable Prospectively: Gauhati HC [Read Order]

The Gauhati High Court, in a recent case has held that the explanation inserted to Section 14A of the Income Tax Act, 1961 vide Finance Act, 2022 is applicable prospectively. Further held...

Depreciation claim on Non Compete Fee Allowable Under Income Tax Act: ITAT Deletes Penalty Imposed [Read Order]

In the recent ruling, the Delhi bench Of Income Tax Appellate Tribunal (ITAT) quashed the penalty for disallowing Rs. 21,89,970 in non-compete fee depreciation due to conflicting High Court rulings...

ITAT Annual Digest [Part 22]

This yearly digest analyzes all the ITAT stories published in the year 2023 at taxscan.in Remuneration Paid to Consultant Doctors not Salary, TDS not applicable: ITAT Deputy Commissioner of...