The Madras High Court has delivered an important ruling in cases involving alleged bogus Long-Term Capital Gains (LTCG) from the sale of shares, holding that suspicion surrounding unusual or substantial gains cannot, by itself, justify a tax addition without supporting evidence. In …
The Gauhati High Court has ruled that criminal prosecution under the Income Tax Act cannot continue when the assessment forming the basis of the prosecution has subsequently been set aside on merits. The Court also held that prosecution against directors of …
The Gujarat High Court has set an important limitation-related precedent in income-tax assessment proceedings by quashing a reference made by the Assessing Officer (AO) to the Departmental Valuation Officer (DVO) just one day before the statutory time limit for completing …
The Delhi Income Tax Appellate Tribunal (ITAT) has clarified an important issue concerning the taxability of payments for sports broadcasting rights. The Tribunal held that consideration attributable to live cricket broadcasting rights cannot be treated as royalty under Section 9(1)(vi) of the …
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has provided significant relief to DLF Homes Panchkula Private Limited by setting aside a tax demand of approximately ₹1.53 crore relating to External Development Charges (EDC) paid to the Haryana Urban Development Authority (HUDA), …
A mistake while filing an Income Tax Return (ITR) can sometimes result in a substantial tax demand. However, the mere fact that an amount has been incorrectly disclosed in an ITR does not automatically mean that the taxpayer actually earned …
The Income Tax Appellate Tribunal (ITAT), Bangalore, has delivered an important ruling on the treatment of cash deposits under Section 69 of the Income Tax Act. The Tribunal held that a cash deposit cannot be treated as unexplained merely because there …
The Supreme Court has dismissed the Income Tax Department’s Special Leave Petitions (SLPs) challenging a Delhi High Court ruling in the transfer pricing dispute involving Samsung India Electronics Pvt. Ltd. The petitions were rejected primarily because of substantial and unexplained delays of 609 …
Case Title: Royal Chains P Ltd v. Deputy Commissioner of Income Tax, Central 3(3) & Ors. Case No.: Writ Petition No. 1714 of 2023 Court: Bombay High Court Judgment Date: 24 August 2026 Assessment Year: 2016-17 The Bombay High Court has delivered an important ruling …
The Delhi High Court has declined to stay an Income Tax Appellate Tribunal (ITAT) order directing the Income Tax Department to release ₹17.66 crore in cash seized during a search operation, holding that the Department could not continue retaining the seized …
Calcutta High Court | Section 148A | Section 148 | Section 147 | Income Tax Reassessment | AY 2019-20 The Calcutta High Court has upheld the initiation of reassessment proceedings against Chirania Projects Private Limited for Assessment Year (AY) 2019-20, while directing …
Case: ITO Vs. Pankaj Batra Court: Income Tax Appellate Tribunal, Delhi Bench “B” Assessment Year: Relevant assessment year involving demonetisation-period cash deposits Provision Involved: Section 69A of the Income-tax Act, 1961 Amount in Dispute: ₹5,25,47,500 Introduction The Income Tax Appellate Tribunal (ITAT), Delhi Bench “B”, …
Chhattisgarh High Court | Motor Accident Compensation | Section 87A | Income Tax Deduction | Future Prospects The Chhattisgarh High Court has held that income tax should not be deducted while computing compensation in a motor accident claim where the deceased’s …
Madras High Court | Section 11(1)(d) | Corpus Donations | Trust Taxation | Fixed Deposit Interest The Madras High Court has clarified an important aspect of taxation of income earned by charitable and religious trusts. In its judgment dated 17 August 2026, the …
The Calcutta High Court has delivered an important ruling on the tax treatment of actuarial contributions to approved superannuation and gratuity funds, while also clarifying when employees’ PF/ESI contributions can be disallowed under Section 36(1)(va) of the Income-tax Act. In …
The Bombay High Court has delivered an important ruling protecting taxpayers from the consequences of a deductor’s failure to deposit Tax Deducted at Source (TDS) with the Government. In Manohar Ramabtar Jhunjhunwala v. Principal Commissioner of Income Tax-17, Mumbai & Ors. …
Joint ownership of a residential property with a spouse does not, by itself, mean that the benefit of Section 54 of the Income-tax Act must be restricted to 50%. In a significant ruling, the Mumbai Bench of the Income Tax Appellate …
When an NRI sends money to parents in India, the transfer is generally not taxable merely because the recipient is an Indian resident. However, a large or unusual credit appearing in a parent’s bank account may attract questions from the Income …
Large cash transactions often attract close attention from the Income Tax Department, particularly when substantial cash is deposited into a bank account after a significant period of time. However, a cash deposit cannot automatically be treated as unexplained income merely …
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has delivered an important ruling on the availability of Section 54F exemption where a residential property is purchased from a spouse. In Neha Karan Motwani v. ITO, the Tribunal rejected the Revenue’s …