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Income Tax Appellate Tribunal Case Commentaries

Section 263 Jurisdiction Clarified in Balvinder Singh vs. Pr, CIT Rohtak

Section 263 Jurisdiction Clarified in Balvinder Singh vs. Pr, CIT Rohtak

Date: Aug 25, 2022
Section 263 Jurisdiction Clarified in Balvinder Singh vs. Pr, CIT Rohtak Introduction The case of Balvinder Singh, Haryana v. Pr, CIT, Rohtak, adjudicated by the Income Tax Appellate Tribunal (ITAT),...
Sun Pharmaceuticals v. DCIT: Corporate Guarantees Classified as International Transactions Under Transfer Pricing Regulations

Sun Pharmaceuticals v. DCIT: Corporate Guarantees Classified as International Transactions Under Transfer Pricing Regulations

Date: Aug 25, 2022
Sun Pharmaceuticals v. DCIT: Corporate Guarantees Classified as International Transactions Under Transfer Pricing Regulations Introduction In the case of Sun Pharmaceuticals Industries Ltd. vs....
De Novo Benchmarking Mandated for Transfer Pricing Adjustments in International Banking Transactions

De Novo Benchmarking Mandated for Transfer Pricing Adjustments in International Banking Transactions

Date: Aug 25, 2022
De Novo Benchmarking Mandated for Transfer Pricing Adjustments in International Banking Transactions Introduction The judgment in DCIT (IT) 3(2)(2), Mumbai v. Mizuho Corporate Bank Maker, Mumbai,...
ITAT Chennai Upholds Finality of Settlements Under Direct Tax Vivad Se Vishwas Act, 2020

ITAT Chennai Upholds Finality of Settlements Under Direct Tax Vivad Se Vishwas Act, 2020

Date: Aug 19, 2022
ITAT Chennai Upholds Finality of Settlements Under Direct Tax Vivad Se Vishwas Act, 2020 Introduction The case of Sol India Private Limited, Chennai v. Principal Commissioner of Income Tax, Chennai-3...
Inclusion of Corporate Guarantees as International Transactions under Section 92B: ITAT Ahmedabad's Comprehensive Ruling in M/s Adani Enterprises Ltd. v. DCIT

Inclusion of Corporate Guarantees as International Transactions under Section 92B: ITAT Ahmedabad's Comprehensive Ruling in M/s Adani Enterprises Ltd. v. DCIT

Date: Aug 18, 2022
Inclusion of Corporate Guarantees as International Transactions under Section 92B: ITAT Ahmedabad's Comprehensive Ruling in M/s Adani Enterprises Ltd. v. DCIT Introduction The case of M/s Adani...
Comprehensive Commentary on ITAT's Decision in The Assistant Commissioner Of Income Tax, Circle-1(1), Mysuru v. M/s. Bhoruka Aluminium Limited

Comprehensive Commentary on ITAT's Decision in The Assistant Commissioner Of Income Tax, Circle-1(1), Mysuru v. M/s. Bhoruka Aluminium Limited

Date: Aug 17, 2022
Tax Imposition on Conditional Consideration in Slump Sales: ITAT's Ruling in ACIT v. M/s. Bhoruka Aluminium Limited Introduction The case of The Assistant Commissioner Of Income Tax, Circle-1(1),...
Clarification on the Proper Invocation of Section 263: Affirms AO's Discretion in Conducting Adequate Enquiries

Clarification on the Proper Invocation of Section 263: Affirms AO's Discretion in Conducting Adequate Enquiries

Date: Aug 17, 2022
Clarification on the Proper Invocation of Section 263: Affirms AO's Discretion in Conducting Adequate Enquiries Introduction The case of M/s Chambal Alums Private Limited, Kota v. Pr. Commission of...
Clarifying the Scope of Section 263: Adequate Inquiry and Prejudice to Revenue in Income Tax Assessments

Clarifying the Scope of Section 263: Adequate Inquiry and Prejudice to Revenue in Income Tax Assessments

Date: Aug 11, 2022
Clarifying the Scope of Section 263: Adequate Inquiry and Prejudice to Revenue in Income Tax Assessments Introduction The case of M/s. Rishi Kiran Logistics Private Limited vs. The Principal...
Acceptance of Past Withdrawals as Legitimate Sources for Deposits: Analysis of Sri Girigowda Dasegowda vs. ITO

Acceptance of Past Withdrawals as Legitimate Sources for Deposits: Analysis of Sri Girigowda Dasegowda vs. ITO

Date: Aug 11, 2022
Acceptance of Past Withdrawals as Legitimate Sources for Deposits: Analysis of Sri Girigowda Dasegowda vs. ITO Introduction The case of Sri Girigowda Dasegowda vs. The Income Tax Officer adjudicated...
Reinforcement of Natural Justice in Tax Assessments: ITAT Bathinda Decision

Reinforcement of Natural Justice in Tax Assessments: ITAT Bathinda Decision

Date: Aug 11, 2022
Reinforcement of Natural Justice in Tax Assessments: ITAT Bathinda Decision Introduction The case of Sh. Jagsir Singh S/o. Sh. Sukhmander Singh, Bathinda v. Income Tax Officer Ward-2(1), Bathinda...
Limits of Revisional Jurisdiction under Section 263 in Limited Scrutiny Cases: Aryadeep Complex Pvt. Ltd. vs. Pr. Commissioner of Income Tax, Bilaspur

Limits of Revisional Jurisdiction under Section 263 in Limited Scrutiny Cases: Aryadeep Complex Pvt. Ltd. vs. Pr. Commissioner of Income Tax, Bilaspur

Date: Aug 6, 2022
Limits of Revisional Jurisdiction under Section 263 in Limited Scrutiny Cases Aryadeep Complex Pvt. Ltd. vs. Pr. Commissioner of Income Tax, Bilaspur Introduction The case of Aryadeep Complex Pvt....
Depreciation of Brand Value in Corporate Succession: V.V.Vanniaperumal & Sons vs. PCIT-2, Chennai

Depreciation of Brand Value in Corporate Succession: V.V.Vanniaperumal & Sons vs. PCIT-2, Chennai

Date: Aug 6, 2022
Depreciation of Brand Value in Corporate Succession: V.V.Vanniaperumal & Sons vs. PCIT-2, Chennai Introduction The case of M/s. V.V.Vanniaperumal & Sons, Virudhunagar v. PCIT-2, Chennai adjudicated...
Shri. Kola Venkat Rama Naidu v. The Commissioner Of Income Tax (Appeals): A Landmark Judgment on Deemed Transfer and Capital Gains

Shri. Kola Venkat Rama Naidu v. The Commissioner Of Income Tax (Appeals): A Landmark Judgment on Deemed Transfer and Capital Gains

Date: Aug 6, 2022
Shri. Kola Venkat Rama Naidu v. The Commissioner Of Income Tax (Appeals): A Landmark Judgment on Deemed Transfer and Capital Gains Introduction The case of Shri. Kola Venkat Rama Naidu v. The...
ITAT Mumbai Establishes Clear Distinction in R&D Expenditure Treatment under Section 35(2AB)

ITAT Mumbai Establishes Clear Distinction in R&D Expenditure Treatment under Section 35(2AB)

Date: Aug 5, 2022
ITAT Mumbai Establishes Clear Distinction in R&D Expenditure Treatment under Section 35(2AB) Introduction The case of M/S Centaur Pharmaceuticals Pvt Ltd, Mumbai v. ITO 14(1)(3), Mumbai, adjudicated...
Tax Exemption on Compensation under RFCTLARR Act: Insights from ITO Ward-4(5), Patna v. Suresh Prasad

Tax Exemption on Compensation under RFCTLARR Act: Insights from ITO Ward-4(5), Patna v. Suresh Prasad

Date: Aug 5, 2022
Tax Exemption on Compensation under RFCTLARR Act: Insights from ITO Ward-4(5), Patna v. Suresh Prasad Introduction The case of ITO, Ward-4(5), Patna v. Suresh Prasad revolves around the tax...
ITAT Mumbai Upholds Legitimacy of Option Agreements: Protecting Real Estate Transactions from Sham Assertions

ITAT Mumbai Upholds Legitimacy of Option Agreements: Protecting Real Estate Transactions from Sham Assertions

Date: Aug 4, 2022
ITAT Mumbai Upholds Legitimacy of Option Agreements: Protecting Real Estate Transactions from Sham Assertions Introduction The case of K Raheja Pvt. Ltd, Mumbai v. DCIT Central Circle-4(2), Mumbai...
Section 56(2)(viia) Not Applicable to Buyback of Own Shares: VITP Pvt Ltd vs. DCIT

Section 56(2)(viia) Not Applicable to Buyback of Own Shares: VITP Pvt Ltd vs. DCIT

Date: Aug 4, 2022
Section 56(2)(viia) Not Applicable to Buyback of Own Shares: VITP Pvt Ltd vs. DCIT Introduction The case of VITP Private Limited vs. Deputy Commissioner of Income Tax, Circle-17(2), Hyderabad...
Kavitaben Patel v. ITO: Clarifying Unexplained Cash Deposits Under Section 69A

Kavitaben Patel v. ITO: Clarifying Unexplained Cash Deposits Under Section 69A

Date: Aug 4, 2022
Kavitaben Patel v. ITO: Clarifying Unexplained Cash Deposits Under Section 69A Introduction The case of Kavitaben Chintanbhai Patel v. The Income Tax Officer (ITO), Ward-5(2)(3), Ahmedabad...
Non-Retrospective Nature of Section 14A Amendments Affirmed: Babul Fiscal Services Pvt. Ltd. vs. ACIT, Kolkata

Non-Retrospective Nature of Section 14A Amendments Affirmed: Babul Fiscal Services Pvt. Ltd. vs. ACIT, Kolkata

Date: Aug 3, 2022
Non-Retrospective Nature of Section 14A Amendments Affirmed: Babul Fiscal Services Pvt. Ltd. vs. ACIT, Kolkata 1. Introduction The case of Babul Fiscal Services Private Limited, Kolkata v. Assistant...
Clarifying the Applicability of Section 14A: Disallowance Not Applicable Without Exempt Income

Clarifying the Applicability of Section 14A: Disallowance Not Applicable Without Exempt Income

Date: Jul 30, 2022
Clarifying the Applicability of Section 14A: Disallowance Not Applicable Without Exempt Income Introduction The case of ACIT, Circle-11(2), New Delhi v. Hindustan EPC Company Ltd., New Delhi...
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