Gujarat High Court pulls up CBDT for 11 years of non-compliance with Court directions on timely release of ITR forms & utilities.        

Section 68 Cannot Tax Recorded Sales Again | ITAT Mumbai Rules Against Double Taxation of Turnover In a significant ruling with wide practical implications, the ITAT Mumbai has clarified that sales already recorded as turnover cannot be taxed again under Section 68 as unexplained cash credit, especially when books of account are not rejected under Section…

Section 44AD vs 44ADA: Can Wrong TDS u/s 194J Turn Business Income into Professional Income? A Growing Litigation Issue A new and increasingly common controversy is emerging in income tax assessments—Assessing Officers are treating income as “professional income” merely because TDS was deducted under Section 194J, and forcing taxpayers into Section 44ADA instead of Section…

₹12.54 Crore Gift Case: ITAT Flags Genuineness Issues in Gift Received by Shilpa Shetty   In a high-profile and instructive ruling, the ITAT has raised serious concerns over the genuineness of a ₹12.54 crore gift received by Shilpa Shetty from her husband. The case highlights a crucial principle under the Income-tax Act-mere documentation is not enough; the transaction…

Section 54F Exemption & JDA Capital Gains Explained | Key ITAT Chennai Ruling in Kesavan Vanithamani vs ITO   The Chennai Bench of the ITAT in Kesavan Vanithamani vs ITO has delivered a highly practical and taxpayer-friendly ruling dealing with two frequently litigated issues-eligibility of exemption under Section 54F and taxability of capital gains in Joint Development Agreements…