ITAT: Knocks down Sec. 56(2)(vii) addition basis public IPO-documents sans incriminating material found in search

• In Favour of Assessee
• Citation Number : TS-1593-ITAT-2025(Bang)

HC: Absent saving clause, Rule 96(10) omission obliterates pending IGST refund proceedings

• In Favour of Petitioner
• Citation Number : TS-980-HC(DEL)-2025-GST

Tax Beats #13 - Income-tax Act, 2025 Distilled with Dhaval Trivedi

NFRA: Nationwide Outreach Programmes, Audit Firms Survey organised to enhance audit quality

HC: HC: Upholds initiation of Sec.147 proceedings sans incriminating material discovery; Rejects plea to invoke Sec.153C

• In Favour of Revenue
• Citation Number : TS-1592-HC-2025(CAL)

20 Key Excerpts from ITAT ruling in Shell qua Rs. 500 cr TP adjustments

Mastercard Round 3 begins at Delhi HC; "No PE", thunders Sr. Adv. Salve

NCLT: Clears amalgamation between Asian Paints and wholly-owned subsidiary, aimed at simplifying group structure

ITAT: Assumption of jurisdiction u/s 153C stands vitiated absent credible third-party incriminating material

• In Favour of Assessee
• Citation Number : TS-1591-ITAT-2025(DEL)

Delhi HC grants Revenue 2-day extension to complete copying post-parsing data at Advocate’s office

ITAT: Deletes TP adjustment qua availing transition support services; Rules on comparables selection

• In Favour of Both, Partially
• Citation Number : TS-701-ITAT-2025(DEL)-TP

ITAT: Applies rule of consistency to delete AMP adjustment in case of Amway India

• In Favour of Assessee
• Citation Number : TS-702-ITAT-2025(DEL)-TP

ITAT: Remits TP adjustment qua purchase of raw materials etc and interest on trade receivables

• In Favour of Both, Partially
• Citation Number : TS-703-ITAT-2025(HYD)-TP

ITAT: Quashes final assessment order passed beyond extended time limit u/s.153(4)

• In Favour of Assessee
• Citation Number : TS-704-ITAT-2025(HYD)-TP

ITAT: Quashes final assessment order passed without draft assessment order

• In Favour of Assessee
• Citation Number : TS-705-ITAT-2025(Bang)-TP

ITAT: Dismisses Revenue’s appeal; Upholds CIT(A)’s order excluding functionally dissimilar comparables

• In Favour of Both, Partially
• Citation Number : TS-707-ITAT-2025(DEL)-TP

ITAT: Deletes TP adjustment qua royalty payment; Notes PLI includes the same

• In Favour of Assessee
• Citation Number : TS-706-ITAT-2025(DEL)-TP

HC: Controller’s failure to assess prior art renders inventive-step rejection untenable; Quashes patent refusal

ITAT: AO cannot determine reasonableness of payments sans cogent material; Upholds ad-expenses, royalty deletion

• In Favour of Assessee
• Citation Number : TS-1590-ITAT-2025(DEL)

HC: ‘Mathematical inconsistency’ in arbitral award qualifies as ‘correctable arithmetical error’; Partly allows appeal