Section 43CA Additions Quashed by ITAT Pune: A Victory Against Mechanical Reopening and Misapplication of Law
Section 43CA Additions Quashed by ITAT Pune: A Victory Against Mechanical Reopening and Misapplication of Law In a significant…
Income Tax
Foreign Mutual Funds Must Be Reported in ITR — Avoid ₹10 Lakh Penalty
Foreign Mutual Funds Must Be Reported in ITR — Avoid ₹10 Lakh Penalty As more Indian taxpayers explore global investment…
Assessing Officer cannot rely solely on borrowed information without independent verification or a rational connection to income escapement.
Assessing Officer cannot rely solely on borrowed information without independent verification or a rational connection to income escapement. Tax…
Reassessment against dissolved Firm is void – ITAT Delhi Quashes ₹17 Crore Addition
Reassessment against dissolved Firm is void – ITAT Delhi Quashes ₹17 Crore Addition The Delhi ITAT quashed reassessment orders passed…
Tax Refund Mafia: The AI That Never Sleeps [Part II]
Tax Refund Mafia: The AI That Never Sleeps [Part II] Last week, we explored how AI busted a capital gains…
Cash Deposits cannot be Doubted if Return Filed U/s 44AD
Cash Deposits cannot be Doubted if Return Filed U/s 44AD In a recent case, AO found large cash deposits…
Strategic Overseas Ties and Corporate Structuring Fail to Shield Global Income: ITAT Declares assessee a Resident
Strategic Overseas Ties and Corporate Structuring Fail to Shield Global Income: ITAT Declares assessee a Resident Mahadevan (ITA Nos.…
Operational control and not formal ownership or exclusivity is relevant for determining if appellant has a PE in India: SC
Operational control and not formal ownership or exclusivity is relevant for determining if appellant has a PE in India: SC…
Re-assessment proceedings under Section 147 rather than following the special procedure envisaged under Section 153C is bad in law
Re-assessment proceedings under Section 147 rather than following the special procedure envisaged under Section 153C is bad in law …
Requirement to deposit 20% of the disputed demand as per the said CBDT Circular is directory in nature and not mandatory.
Requirement to deposit 20% of the disputed demand as per the said CBDT Circular is directory in nature and not…
Madras HC Quashes TVS Reassessment Notice – JAO Has No Jurisdiction, Only Faceless AO Can Issue 148A Notices, Holds Court
Madras HC Quashes TVS Reassessment Notice – JAO Has No Jurisdiction, Only Faceless AO Can Issue 148A Notices, Holds Court…
Sales tax incentives granted under state schemes for setting up industries in backward areas constitute capital receipts & so not taxable: Bombay HC
Sales tax incentives granted under state schemes for setting up industries in backward areas constitute capital receipts & so not…
No discrepancies in sales, Books of accounts also not rejected – No addition towards cash deposit sustainable
No discrepancies in sales, Books of accounts also not rejected – No addition towards cash deposit sustainable The Hon’ble…
Exemption Under section 54F admissible even if the payment is done by third-Party
Exemption Under section 54F admissible even if the payment is done by third-Party Key Facts: a. The assessee surrendered…
Supreme Court Dismisses SLP in JAO–FAO Jurisdiction Case: Revenue Seeks Revival Amidst 700+ Similar Matters
Supreme Court Dismisses SLP in JAO–FAO Jurisdiction Case: Revenue Seeks Revival Amidst 700+ Similar Matters In a key development surrounding…
No disallowance under Section 143(1)(a) can be made towards delayed ESI and EPF contributions as the issue was highly debatable
No disallowance under Section 143(1)(a) can be made towards delayed ESI and EPF contributions as the issue was highly debatable…
Entire amount of bogus purchases cannot be disallowed – ITAT Ahmadabad distinguishes Bombay HC decision
Entire amount of bogus purchases cannot be disallowed – ITAT Ahmadabad distinguishes Bombay HC decision Hon’ble Bombay HC has…
Non speaking dismissal of the SLP by the SC – JAO Vs. FAO Controversy to continue
Non speaking dismissal of the SLP by the SC – JAO Vs. FAO Controversy to continue The matter pertains…
