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Redefining Tax Notice Procedures: Rajasthan High Court's Critical Stance on Compliance and Jurisdiction
Introduction In a landmark judgment, the Rajasthan High Court bench at Jaipur ( ‘the Court’ ) pronounced a pivotal decision in Bijendra...
Jan 16, 20244 min read
Full Disclosure & Bona Fide Claims: The Deciding Factor Against Penalties in Tax Law
Introduction The Supreme Court ( ‘SC’ ) in the case of Principal Commissioner of Income Tax v. Indusind Bank Ltd . [i] dismissed the...
Jan 12, 20242 min read
Supreme Court’s ruling on the MFN Clause in DTAAs between India and OECD Member Countries
Introduction Justice Ravindra Bhat of the Supreme Court has delivered a landmark judgment in AO Circle v. Nestle SA [ i ] Â on the...
Nov 22, 20234 min read
Impact of CIRP and Moratorium on Tax Appeals: Analysis of ITAT’s Decision
Introduction The Income Tax Appellate Tribunal ( ‘ITAT' ), Delhi Bench, recently rendered a significant decision in the case of DCIT v....
Nov 14, 20233 min read
ITAT Delhi Ruling: WhatsApp Chats Alone Insufficient for Addition under S. 69C of the Income Tax Act
In the case of Designers Point (India) P. Ltd. v. ACIT, New Delhi [i] , the Income Tax Appellate Tribunal – Delhi (‘ITAT’) allowed the...
Oct 13, 20233 min read
Assessee Loses Appeal before ITAT for Lack of Participation and Evidence
Introduction In the matter of M/s Adim Jati Seva Sahkari Samiti Maryadit v. The Income Tax Officer – 2, Korba [i] , the Income Tax...
Oct 6, 20234 min read
Taxing Net Income, Not Gross Receipts: ITAT’s Clarification on Charitable Trust’s Taxation
ITAT rules on proper tax base for charities, stressing net income and registration impacts.
Oct 3, 20233 min read
[Bombay HC] Reassessment requires approval of a Specific Authority, not the AO’s change of mind
In the case of Siemens Financial Services Pvt. Ltd. v. DCIT, Mumbai and Ors. [i] , the Bombay High Court analyzed the arguments presented...
Sep 23, 20235 min read
Precision in Valuation: ITAT Scrutinizes Off-Market Share Transaction and Overturns Addition
ITAT-Delhi rules on Trak Services' LTCG, emphasizing the sanctity of contract prices over market rates in share transfer disputes.
Sep 1, 20233 min read
DLF Homes Panchkula Pvt. Ltd. v. Additional Commissioner of Income Tax
In the case of DLF Homes Panchkula (P) Ltd. v. Additional Commissioner of Income Tax ( ‘CIT’ ) & Anr. ( supra ) (DELHI HIGH COURT – SCC...
Aug 17, 20234 min read
Bogus Purchases: Bombay HC Limits IT Addition [Ashwin Purshotam Bajaj]
[Bombay HC] – Only a profit element can be added in respect of bogus purchases under Section 69 of the Income Tax Act, 1961 when the...
Jul 20, 20232 min read
Bombay HC Exempts Directors from Income-tax Liability in Company Dues [Prakash B. Kamat v. PCIT]
[Bombay HC] Income-tax dues of a company cannot be recovered from the Director merely because of his directorship in a company. The...
Jul 1, 20233 min read
ITAT Upholds Disallowance On Bogus Purchases
Introduction In Silmohan Gems Pvt. Ltd. v. DCIT [i] , the ITAT upheld the disallowance of purchases computed at 5% of the purchases and...
Jun 26, 20233 min read
No Addition Can Be Made in the Absence of Incriminating Material Found During the Search
Introduction The case of Manjeet Kaur Saran v. ACIT [i] involves a search and seizure operation conducted by the Income Tax Department....
Jun 20, 20233 min read
[ITAT – Delhi] Re-Assessment Order Passed Against a Non-Existent Entity is Void Ab Initio
Introduction Income Tax Appellate Tribunal – Delhi (‘ITAT’)  in the case of S.S.S Glass Pv.t Ltd. v. ITO [i] , quashed the reassessment...
Jun 19, 20233 min read
[ITAT-Delhi] Addition Under S. 68 of the Income-tax Act Was Deleted as the Assessing Officer Found No Incriminating Material
Introduction The Hon’ble Income Tax Appellate Tribunal – Delhi (‘ITAT’)  ACIT, Central Circle – 19 v. KRBL Foods Ltd [i] . , upheld the...
Jun 15, 20233 min read
No Vicarious Liability: Jharkhand HC Quashes Charges Against Finance Advisor in TDS Remittance Case
Jharkhand HC rules financial advisors are not liable for a firm's TDS defaults.
Apr 22, 20233 min read
CBDT Notifies New Consequences for Inoperative PAN
The Income-tax (Fourth Amendment) Rules, 2023 - Amendment in Rule 114AAA Notification G.S.R. 227(E) [No. 15/2023/F.NO....
Mar 23, 20233 min read
Charitable Trusts: New Audit Report Format for Greater Transparency and Compliance
Introduction: The Central Board of Direct Taxes (CBDT) recently issued notification No. 07/2023, dated 21.02.2023, introducing...
Mar 15, 20234 min read
Online Gaming: Proposed changes in tax law
The Finance Bill 2023, tabled on 1st February 2023, has proposed several changes to the tax regime applicable to online gaming - both for...
Feb 2, 20234 min read