The ITAT dismissed the Revenues appeal, ruling that restrictions on set-off of carried-forward losses under Section 79 apply ...

Chennai ITAT ruled a S. 271D penalty time-barred, holding that the six-month limitation period starts from the AO's recorded ...

Lenskart's anticipated IPO is generating discussion over its high valuation (₹70,000 Crore post-issue). The company's ...

ITAT Hyderabad held that penalty under section 221(1) of the Income Tax Act duly leviable for non-payment of self-assessment ...

ITAT Mumbai deleted a Rs.34.65 crore addition under Section 68 for unsecured loans, ruling that requirement to prove source of source only applies from A.Y. 2013-14 onwards. Tribunal held that proving ...

Court held that authorities cannot block Input Tax Credit accrued after the date of action, directing restoration of ₹1.43 crore to the taxpayer while upholding blockage of earlier ...

ITAT Delhi held that a donor cannot be denied deduction merely because the political party failed to record the donation. Verified payment through bank qualifies for 80GGC ...

Court held that maintenance charges in a housing society are recurring liabilities, and claims filed within six years remain valid under Section 92 of the Maharashtra Cooperative Societies ...

ITAT Chandigarh held that reopening of assessment under section 148 of the Income Tax Act merely on the basis of ‘reasons to suspect’ rather than on ‘reason to believe’ is invalid in the eye of law.

I, confirming that the obligation to deduct tax on lease rent paid to NOIDA Authority applies prospectively from 16.02.2017. Following Supreme Court precedents, the Tribunal ruled the real estate firm ...

The ITAT Delhi ruled that the reassessment was invalid because the issue of setting off prior-year speculative losses was already examined in the original scrutiny assessment. The quashing relied on ...

Delhi High Court held that license fees paid for use of goodwill is allowable as business expenditure. Accordingly, the same is deductible under section 37 of the Income Tax Act. Thus, appeal of ...