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Mumbai ITAT holds Section 54 shortfall was not taxable in AY 2014-15 and deletes penalty of Rs.5,25,923 under Section 271(1)(c). The post Section 54 Shortfall Not Taxable in Original Year: Mumbai ITAT…
Delhi ITAT upholds reassessment based on survey information exposing bogus transactions, but restricts the addition on alleged bogus purchases by applying 5% gross profit on turnover and allowing cred…
ITAT Ahmedabad upheld depreciation claims and benchmarking of captive electricity and steam, dismissing Revenue appeals for AYs 2018-19 and 2020-21. The post ITAT Ahmedabad Dismisses Revenue Appeals o…
ITAT Mumbai allows assessee appeals and dismisses Revenue appeals, holding the approved IBC Resolution Plan barred continuation of pre-approval tax proceedings. The post IBC Resolution Plan Bars Pendi…
ITAT Jodhpur upheld deletion of ₹3.36 crore Section 69A addition on cash deposits during demonetisation and ₹2.79 crore stock revaluation addition, accepting damaged guar gum valuation under AS-2. The…
ITAT Delhi dismisses both appeals, upholding LIBOR+300 for foreign-currency loans, excluding unsuitable comparables and deleting receivables and Section 14A adjustments. The post ITAT Delhi Upholds LI…
ITAT Delhi upheld relief to PNB Gilts on Section 14A, interest disallowance and ₹6.56 crore diminution in securities held as stock-in-trade. The post ITAT Deletes ₹4.26 Crore Section 14A Disallowance…
ITAT Jodhpur restores 12AB and 80G applications, directing CIT(E) to examine exemption from Rajasthan Public Trust Act registration. The post ITAT Jodhpur Restores 12AB Registration Application for RP…
ITAT Chennai quashes Section 263 revision, holding later Finance Act 2023 restrictions cannot govern AY 2022-23 loan repayment application. The post Section 263 Cannot Import Later Restrictions into A…
A Delhi court has recently upheld ₹1,840 monthly maintenance, stressing that payments must reflect the spouse’s genuine financial capacity. The case highlights how courts assess income, evidence, liab…
The Bengaluru-based bench of the NCLT has put a hold on any further disposal of Byju's K3 Education's assets till the next hearing on September 21 amid allegations that assets worth around Rs 150 cror…
ITAT Jodhpur directs fresh examination of Section 12AB renewal application of Urban Improvement Trust, Pali, holding that non-registration under Rajasthan Public Trust Act cannot justify rejection wit…