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Taxpayers must accurately report capital gains from shares, mutual funds, and ETFs while filing the ITR for AY 2026-27. It is important to choose the correct ITR form, classify gains, reconcile invest…
ITAT deleted Section 69 additions based solely on third-party statements and search material, finding no corroborative evidence or opportunity for cross-examination. The post ITAT Deletes Section 69 A…
ITAT restricted disallowance on alleged bogus purchases to 2% after noting that sales were not disputed and the Assessing Officer made no enquiry from suppliers. The post ITAT Restricts Bogus Purchase…
ITAT upheld reopening under Section 147 based on Investigation Wing information and restricted disallowance on alleged non-genuine purchases to 2%. The post ITAT Upholds Reassessment & Restricts Bogus…
ITAT quashed the Section 263 revision, holding the PCIT could not revise a reassessment on issues beyond the recorded reasons for reopening. The post ITAT Quashes Section 263 Revision of Reassessment…
ITAT quashed Section 263 revision, holding reassessment could not be revised on issues unrelated to the reasons for reopening. The post ITAT Sets Aside Section 263 Revision on Issues Beyond Reassessme…
Punjab & Haryana HC quashes ₹16.74 billion Service Tax demand notice, holding its earlier Genpact ruling on intermediary services squarely governed the case. The post Punjab & Haryana HC Quashes ₹16.7…
CESTAT allowed refund of unutilised CENVAT credit, holding earlier Tribunal orders affirmed by the Supreme Court governed denial based on intermediary classification. The post CESTAT Allows Refund of…
ITAT deleted Section 40(a)(i) disallowance on global overhead charges, restricted Section 14A disallowance, remanded transfer pricing adjustment, and dismissed Revenue's appeal on TDS issues. The post…
Zee Entertainment Enterprises Ltd (ZEEL) has moved the Delhi High Court against quick commerce major Blinkit, alleging content uploaded on…
ITAT held TDS provisions inapplicable on stockist discounts, ESOP grants and delayed payment interest to MSMEs, dismissing Revenue's appeal. The post ITAT Deletes TDS Demand on Stockist Discounts, ESO…
Bangalore ITAT quashed a tax demand raised through a computation sheet, holding it cannot exceed the findings recorded in the assessment order. The post Income Tax Demand Cannot Be Through Computation…