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Interest on Borrowed Funds Allowable Despite Interest-Free Advances to Farmers: Business Expediency Explained – Girraj Cold Storage (P.) Ltd. v. ITO
The
Income Tax Appellate Tribunal, Agra (SMC Bench), in Girraj Cold Storage (P.)
Ltd. v. Income-tax Officer (ITA No. 125/Agr/2022), examined the
allowability of interest expenditure under Section 36(1)(iii) of the Inc...
CIT(A) Cannot Dismiss Appeal for Non-Prosecution and Must Decide on Merits: ITAT Mumbai in Sangeeta Motilal Shahani v. ITO
The Mumbai Bench of the Income Tax Appellate Tribunal
examined the legality of an ex-parte order passed by the Commissioner of Income
Tax (Appeals) dismissing the assessee’s appeal for non-prosecution, without
adjud...
Taxation of Category III AIF Trusts under Section 164: Delhi High Court Ruling in Equity Intelligence AIF Trust v. CBDT
The Delhi High Court, in Equity Intelligence AIF Trust v. Central Board of Direct Taxes & Anr. (W.P.(C) 9972/2024), examined the validity of CBDT Circular No.13/2014 dated 28.07.2014 and the consequential order passe...
Conversion of Partnership Firm into Proprietorship and Alleged Capital Gains under Section 45(4): ITAT Delhi Remands Matter in ITO vs. Mahabir Solvent Oil Mills
The
appeal was filed by the Revenue against the order passed by the Commissioner of
Income Tax (Appeals), Karnal, for Assessment Year 2008-09, arising from
reassessment proceedings completed under section 143(3) read ...
Addition under Section 69 for Property Investment by NRI: ITAT Mumbai Remands Matter for Limited Verification, SHRI DEEPAK DEVIDAS SAJNANI,UAE VS. THE INCOME TAX OFFICER INT. TAX WARD 4(2)(1), MUMBAI
The Income Tax Appellate Tribunal, Mumbai Bench, examined
the validity of an addition made under Section 69 of the Income-tax Act, 1961,
in respect of alleged unexplained investment in immovable property made by a
non...
Capital Gains on Sale of Equity-Oriented Mutual Fund Units Not Taxable in India under India–Mauritius DTAA: ITAT Delhi – Emerging India Focus Funds v. ACIT
The
Income Tax Appellate Tribunal, Delhi Bench, in Emerging India Focus Funds,
Apex Financial Services (Mauritius) Ltd. v. Assistant Commissioner of
Income-tax (International Tax) (ITA No. 1963/Del/2025), examined the...
Draft Assessment Order on Non-Existent Entity under Section 144C Invalid: ITAT Mumbai in Vodafone Mobile Services Ltd., VODAFONE MOBILE SERVICES LTD.,AHMEDABAD VS. DCIT, NEW DELHI
The Income Tax Appellate Tribunal, Mumbai Bench, examined
the validity of assessment proceedings initiated under Section 144C of the
Income-tax Act, 1961, where the draft assessment order had been issued in the
name o...
Section 44C Covers Even Exclusive Head Office Expenditure: Supreme Court Overrules ‘Exclusive vs Common’ Distinction – DIT v. American Express Bank Ltd. (2025)
The
Supreme Court of India, in Director of Income-tax (IT)-I, Mumbai v. American
Express Bank Ltd. (Civil Appeal Nos. 8291 of 2015 & 4451 of 2016),
examined the scope and applicability of Section 44C of the Income...
Gift from Brother-in-Law through Banking Channels Not Taxable under Section 56(2)(x): ITAT Kolkata – Deb Prasanna Choudhury v. ADIT/DCIT
The
Income Tax Appellate Tribunal, Kolkata Bench, in Deb Prasanna Choudhury v.
ADIT/DCIT (International Taxation) (ITA No. 2199/KOL/2024), examined the
taxability under Section 56(2)(x) of the Income-tax Act, 1961, of...
TCS under Section 206C(1C) Not Applicable on Compounding Fee for Illegal Mining: Chhattisgarh High Court – Collector Mining, Kanker v. DCIT (TDS)
The
Chhattisgarh High Court, in Collector Mining, Kanker (Deputy Director
Mineral Administration) v. Deputy Commissioner of Income Tax (TDS), Raipur
(Tax Case No. 111 of 2025), examined whether the provisions of Secti...