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Income tax Appellate Tribunal
ITAT: Following principle of consistency, deletes additions on interest income and STCG
May 15, 2025
- In Favour of Assessee
- Citation Number : TS-573-ITAT-2025(Kol)
- Tax Payer : Assam Infrastructure Financing Authority
High Court
HC: CBDT instruction a guiding note, not regulation; Quashes ITAT order for wrongly elevating CBDT instruction
May 15, 2025
- In Favour of Revenue
- Citation Number : TS-586-HC-2025(CAL)
- Tax Payer : P L Goenka Huf
High Court
HC: Clerical error not grounds for rejecting return; Allows revision after curing checkbox defect
May 15, 2025
- In Favour of Assessee
- Citation Number : TS-584-HC-2025(DEL)
- Tax Payer : Nikon Finlease Pvt. Ltd
Prohibition of Benami Property Transactions Appellate Tribunal
PBPTAT: Upholds attachment in Benami property case involving scheduled caste land transfer scheme
May 15, 2025
- In Favour of Assessee
- Citation Number : TS-576-PBPTAT-2025(DEL)
- Tax Payer : Hemraj Dhobhi
Income tax Appellate Tribunal
ITAT: DSIR approves R&D facility, not the expenditure; Clarifies no expenditure cap by DSIR pre-amendment to Rule 6(7A)
May 14, 2025
- In Favour of Assessee
- Citation Number : TS-581-ITAT-2025(CHNY)
- Tax Payer : Carborundum Universal Limited
High Court
HC: No authority for debatable issue adjustment u/s 143(1)(a); Revenue to use scrutiny u/s 143(3)
May 14, 2025
- In Favour of Assessee
- Citation Number : TS-580-HC-2025(CHAT)
- Tax Payer : Raj Kumar Bothra
High Court
HC: Entertainment tax subsidy provided by State Govt. to PVR Ltd. is capital receipt not liable to tax
May 14, 2025
- In Favour of Assessee
- Citation Number : TS-577-HC-2025(DEL)
- Tax Payer : PVR Ltd
Income tax Appellate Tribunal
ITAT: Assessee victim of malpractice by tax consultant; Deletes penalty as taxes paid prior to Sec. 148 notice
May 14, 2025
- In Favour of Assessee
- Citation Number : TS-574-ITAT-2025(PUN)
- Tax Payer : Sachin Baban Shinde
High Court
HC: Interprets 'one residential house', cites multiple floors ownership doesn't disqualify Sec. 54F deduction
May 14, 2025
- In Favour of Assessee
- Citation Number : TS-572-HC-2025(DEL)
- Tax Payer : Lata Goel
Income tax Appellate Tribunal
ITAT: Assessee eligible for Sec. 54F exemption; Rules gifted house doesn't disqualify Assessee u/s 54F(1)
May 13, 2025
- In Favour of Assessee
- Citation Number : TS-571-ITAT-2025(HYD)
- Tax Payer : Narasimha Reddy Duthala
Income tax Appellate Tribunal
ITAT: Denies LTCG exemption u/s 10(38) on penny stocks investment, cites transaction to route unaccounted money
May 13, 2025
- In Favour of Revenue
- Citation Number : TS-570-ITAT-2025(JPR)
- Tax Payer : Karuna Jain
High Court
HC: Affirms ITAT’s order, condonation rightly dismissed as delay due to Assessee’s gross negligence
May 13, 2025
- In Favour of Assessee
- Citation Number : TS-569-HC-2025(MP)
- Tax Payer : C.I. Builders Private Limited
High Court
HC: Assessee not in default for deducting tax at lower rate since payee obtained lower tax certificate
May 13, 2025
- In Favour of Assessee
- Citation Number : TS-568-HC-2025(DEL)
- Tax Payer : Conner Institute Of Health Care And Research Center Pvt. Ltd
High Court
HC: Sec. 153C notice cannot be issued if no incriminating material found in search; Sec. 132(4) statement not incriminating
May 13, 2025
- In Favour of Assessee
- Citation Number : TS-565-HC-2025(DEL)
- Tax Payer : Rakesh Babbar
Income tax Appellate Tribunal
ITAT: Rejects AO's plea of beneficiaries in US, allows DTAA benefits; Refutes treaty abuse allegations as fallacious
May 13, 2025
- In Favour of Assessee
- Citation Number : TS-567-ITAT-2025(DEL)
- Tax Payer : Gagil FDI Ltd
Income tax Appellate Tribunal
ITAT: Third Member clarifies Sec. 153A intended for single assessment post search, not parallel proceedings
May 12, 2025
- In Favour of Both, Partially
- Citation Number : TS-566-ITAT-2025(Ahd)
- Tax Payer : Benefit Tradelink Ltd
Income tax Appellate Tribunal
ITAT: Explains expression ‘derived from’ different than 'attributable to' for Sec. 80IC computation, includes net interest
May 12, 2025
- In Favour of Revenue
- Citation Number : TS-564-ITAT-2025(Kol)
- Tax Payer : La Opala RG Ltd
High Court
HC: Reassessment during pending rectification proceedings, valid; Allegation qua accommodation entry distinct from pending rectification
May 12, 2025
- In Favour of Revenue
- Citation Number : TS-561-HC-2025(CAL)
- Tax Payer : Adwealth Stock Broking Private Limited
High Court
HC: Quashes Sec. 148A(d) order; Grants liberty to Assessee to file fresh objections except issues settled in Rajeev Bansal
May 12, 2025
- In Favour of Assessee
- Citation Number : TS-560-HC-2025(ALL)
- Tax Payer : Yogesh Agarwal
High Court
HC: Reassessment beyond 3 years sans ‘Asset’ barred by limitation; Section 149(1)(b) condition not fulfilled
May 12, 2025
- In Favour of Assessee
- Citation Number : TS-562-HC-2025(DEL)
- Tax Payer : Ratnagiri Gas and Power Private Limited