Read all Latest Updates on and about section 154 of the Income Tax Act

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ITAT Restores Rectification Appeal u/s 154 to CIT(A) to Avoid Multiplicity, Orders Re-evaluation of Capital Gain Addition [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has restored an appeal to the Commissioner of Income Tax (Appeals) after holding that...

Supreme Court & High Courts Weekly Round-Up

Income Tax Hearing Date cannot be Advanced without Intimating Assessee: Orissa HC sets aside Order...

Relief u/s 89(1) on Salary Arrears Already Rectified: ITAT Deletes Addition, Holds CIT(A)’s...

MEIS Subsidy Classification a Debatable Issue, Cannot be Rectified u/s 154: ITAT Upholds Deletion of...

Half Yearly Tax Digest 2025: Supreme Court and High Court Cases [Part XIX]

This Half Yearly Digest analytically summarises all the Supreme Court and High Court Tax Decisions in the First Half of 2025, as reported at Taxscan.in. S. 73 Proceedings on GST ITC Availment on...

Calcutta HC Quashes Order u/s 154 of Income Tax Act Passed Against Deceased, Allows Appeal Filed by Daughter-in-law of Deceased [Read Order]

The Calcutta HighCourt, in a recent ruling, quashed the order under section 154 of the IncomeTax Act, 1961, which was passed against the deceased, and allowed the petition filed by the...

[TAXSCAN 360] Income Tax Rectification: Time Limits and Grounds for Seeking Rectification u/s 154

For both taxpayers and tax authorities, rectification is an important solution for resolving mistakes in the income tax orders. When there is an error in the income tax order, either the income...

ITAT Condones 2202-Day Delay in Appeal Filing, due to Bona Fide Belief in Rectification u/s 154 [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) condoned a 2202-day delay in filing the appeal, as there was a bona fide belief on the part of the assessee that the disallowance made...

Eligibility for Deduction u/s 80P(2)(d) on Interest Earned from Co-operative Banks: ITAT Grants Deduction [Read Order]

The Mumbai Bench of Income Tax Appellate Tribunal(ITAT)ruled in favor of the assessee, granting the deduction under Section 80P(2)(d) of Income Tax Act,1961 for interest earned from a cooperative...

ITAT Excludes Inter-Branch Transfers from Turnover, Grants Concessional Tax Rate to Power and Instrumentation Ltd. [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) excluded inter-branch transfers from turnover grants concessional tax rate to Power and Instrumentation Ltd. The main issue in...

Framing of Transfer Pricing Order against Non-Existent Entity not a Curable Defect: Delhi HC [Read Order]

In a significant ruling, the Delhi High Court on January 17, 2025, dismissed an appeal by the Principal Commissioner of Income Tax against Vedanta Limited, holding that framing a transfer pricing...