Parmar (Jain), the Bombay High Court addressed an appeal concerning alleged bogus purchases. The Revenue argued that the Income Tax Appellate Tribunal (ITAT) erred in restricting the addition to only ...

DCIT, the Bombay High Court examined the legality of reopening assessments under Section 148 of the Income Tax Act. Bennett ...

In view of the above, the Hon’ble High Court has held that the impugned order passed by the respondents is in violation of ...

This ruling underscores the principle that penalties under Section 271 (1) (b) must be applied judiciously, aligning with the law’s intent to deter non-compliance without undue repetition. The ...

In the case of Charu Modi Bhartia Vs DCIT before the ITAT Delhi, the tribunal overturned a penalty levied under Section 271(1 ...

Kerala High Court held that revisionary proceedings by PCIT u/s. 263 rightly exercised since claim of provision for bad and doubtful debts was assumed by assessing officer to be correct without ...

ITAT Agra held that addition towards interest paid on CC is liable to be deleted since interest free advance given to potato growers (farmers) were out of the business expediency. Accordingly, ...

For property owners seeking to commercialize their land, Joint Development Agreements (JDA) are one of the most sought out options. These agreements have their ...

Interpretation of exemption notifications under Indian tax legislation has always been at the forefront of debates. A tax law’s exemption notification clause exempts certain products, services, or ...

For those with taxable income, the proper method is to file a condonation of delay request with your Assessing Officer. Once approved, you can file the return. However, officers usually approve such ...

Supreme Court held that the agreement between the oil marketing companies indicates that the price of petroleum products agreed under MoU is not a normal price and, therefore, is not a transaction ...