The Calcutta High Court has clarified an important principle concerning the powers of the Income Tax Appellate Tribunal (ITAT). The Court held that the Tribunal cannot make payment of litigation costs a condition for a taxpayer to exercise the statutory …
In a significant ruling reinforcing the limits of the Principal Commissioner of Income Tax’s (PCIT) revisional jurisdiction under Section 263 of the Income Tax Act, 1961, the Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that the PCIT …
In a significant development concerning the appellate framework under the Prohibition of Benami Property Transactions Act, 1988 (PBPT Act), the Supreme Court of India has declined to entertain a Public Interest Litigation (PIL) seeking the transfer of appellate jurisdiction from the Appellate Tribunal …
The Bombay High Court has delivered a significant judgment reinforcing the principle that genuine litigants should not be denied justice merely because of procedural delays. In a taxpayer-friendly ruling, the Court set aside an order of the Income Tax Appellate …
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has delivered an important ruling in favour of taxpayers by holding that Tax Deducted at Source (TDS) credit cannot be denied merely because it was not claimed in the original Income Tax Return …
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 concerning the interpretation of the Income Declaration Scheme (IDS), 2016, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has held that undisclosed income declared under the IDS cannot be taxed in the original assessment …
In a recent regulatory disclosure, Polycab India Limited informed stock exchanges that it has received an income tax assessment order raising a demand of approximately ₹327.45 crore for the Assessment Year (AY) 2024-25 (corresponding to FY 2023-24). The order has …
Charitable trusts and societies often rely on the exemption provisions under Section 11 of the Income-tax Act to accumulate income for future charitable purposes. However, tax authorities sometimes deny such benefits on the basis of minor procedural defects, even when the charitable …
In a significant development impacting tribunal appointments across the country, the Supreme Court has struck down the rule that mandated a minimum of 25 years of practice for chartered accountants (CAs) to qualify as technical members of tribunals, including the Income Tax Appellate …
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently reaffirmed an important principle governing Section 41(1) of the Income Tax Act, 1961 — that an addition on account of remission or cessation of liability cannot be sustained in the absence of …
In a significant judgment, the Chhattisgarh High Court has ruled that assessment proceedings pending before the Income Tax Appellate Tribunal (ITAT) shall be deemed to be pending before the Assessing Officer (AO) for the purpose of granting retrospective benefit under …
The ITAT set aside the previous order and directed the AO to conduct a fresh assessment. The tribunal instructed the AO to take into account the decision of the CIT(E) on the condonation petition once it is finalized. The Income …
This landmark ruling reinforces the principle that intermediaries operating in a fiduciary capacity are distinct from the principal parties in transactions. It sets a strong precedent for brokers, real estate facilitators, and agents, protecting them from undue penalties under Section …
This landmark High Court ruling as it safeguards taxpayers from the sudden attachment of bank accounts by the tax department, which can be done with minimal notice. Now, even in the absence of coercive measures, the mere presence of an …
The ITAT Jaipur underscores the need for a detailed examination of rural land transactions for tax purposes, especially when the property is near urban canters. In a significant ruling, the Income Tax Appellate Tribunal (ITAT) in Jaipur has upheld the …
The ITAT ruled that, as long as interest-free funds are sufficiently available at the time of advance, disallowance of interest on subsequent loans will not stand. In this article, we delve into a notable tax judgement of ITAT involving a …
Brett Lee Granted Tax Relief by ITAT Delhi In a significant ruling, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has granted relief to former Australian cricketer Brett Lee in a tax dispute. The case involved an income …
ITAT Visakhapatnam Ruling in case of Konathala Nooku Naidu verses ITO/ case No. I.T.A. No.269/Viz/2023 In a recent decision, the Visakhapatnam Income Tax Appellate Tribunal (ITAT) has ruled in favour of a taxpayer, directing the deletion of an addition made …
ITAT highlighted that the imposition of penalties under Section 271(1)(c) should not be automatic, but rather based on a careful consideration of the circumstances. ITAT Delhi Ruling: In a significant ruling, the Delhi Income Tax Appellate Tribunal (ITAT) emphasized that …