The Income Tax Department has approached the Supreme Court challenging a significant Delhi High Court judgment that quashed reassessment proceedings initiated against NDTV founders Dr. Prannoy Roy and Radhika Roy. The case concerns interest-free loans allegedly received from RRPR Holdings …
In a significant ruling that could impact thousands of retired Public Sector Undertaking (PSU) employees across India, the Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has allowed a retired ONGC employee to claim tax exemption on the full …
In an important ruling that provides clarity on capital gains exemption under the Income Tax Act, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that merely describing a property as “commercial” in a sale deed is not …
In a significant ruling reinforcing procedural fairness in tax administration, the Income Tax Appellate Tribunal (ITAT), Kolkata Bench, held that failure to provide an assessee with the tally data and forensic analysis report relied upon by the tax authorities amounts …
In a significant ruling reinforcing the principle that tax additions cannot rest merely on suspicion or unverified intelligence inputs, the Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the deletion of an addition of ₹26.08 lakh made …
In a significant ruling that strengthens taxpayer protections against arbitrary reassessment proceedings, the Gujarat High Court has held that merely recording high-value bank transactions is not sufficient to reopen an income tax assessment unless there is tangible material demonstrating actual …
In a significant ruling on reassessment proceedings under the Income Tax Act, the Gujarat High Court has held that reassessment cannot continue when the alleged escaped income falls below the statutory threshold prescribed under Section 149. The judgment provides important …
In a significant ruling reinforcing the constitutional separation of powers, the Delhi High Court dismissed a Public Interest Litigation (PIL) that sought judicial directions to impose tax on agricultural income in Delhi. The Court held that taxation policy and legislative …
In a significant development concerning tax policy and constitutional governance, the Supreme Court of India declined to entertain a petition seeking the introduction of a “creamy layer” mechanism in the income-tax exemption available to Scheduled Tribes (STs) residing in specified …
In a significant ruling on reassessment proceedings under the Income Tax Act, the Gujarat High Court has held that reassessment cannot be sustained where the alleged recomputation does not result in any actual income escaping assessment. The Court quashed reopening …
In a significant development for tax litigation and constitutional jurisprudence, the Madras High Court has issued notice on a writ petition challenging several retrospective amendments made to the Income-tax Act, 1961 through the Finance Act, 2026. The petition raises serious …
In a significant ruling on demonetisation-related income tax disputes, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has deleted an addition of ₹5.60 crore made under Section 69A of the Income Tax Act against a Delhi-based jeweller. The …
In a significant ruling reinforcing procedural accountability in tax litigation, the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, held that a taxpayer cannot seek relief from earlier instances of non-compliance merely because the final appellate notice was sent to a …
In a significant ruling concerning depreciation claims on goodwill under the Income Tax Act, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that depreciation cannot be claimed on goodwill arising out of an unsigned and unregistered …
In a significant ruling that provides clarity on the treatment of client funds handled by professionals, the Income Tax Appellate Tribunal (ITAT), Chennai, in the case of Bose Saravanan Vs DCIT, held that amounts received by a Chartered Accountant exclusively for …
In a landmark ruling that could significantly influence the taxation of startup funding and corporate restructuring transactions in India, the Income Tax Appellate Tribunal (ITAT), Delhi Bench, has granted substantial relief to OYO Hotels and Homes Private Limited by deleting …
In a significant ruling concerning unexplained cash credit provisions under Section 68 of the Income Tax Act, the Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has held that a lender’s income for a particular assessment year cannot be …
In a significant ruling for charitable and religious trusts seeking income tax exemptions, the Kerala High Court has directed the Commissioner of Income Tax (Exemptions) [CIT(E)] to reconsider the registration claim of Atma Bodhodaya Sangham Sree Subhananda Trust under Section …
Filing an Income Tax Return (ITR) is a statutory obligation for many taxpayers in India. While the process has become more convenient with online filing facilities, taxpayers often make avoidable mistakes that can lead to notices, delayed refunds, additional tax …
In a significant ruling for taxpayers engaged in real estate development, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has granted substantial relief to Shalimar Corp Ltd by allowing 50% telescoping of cash deposits against undisclosed income earned …