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Reassessment Notice under Section 148 Quashed as Time-Barred under Rajeev Bansal Ruling: Sunblaze Constructions Pvt. Ltd. vs. ITO (ITAT Kolkata)
Facts of the CaseThe assessee filed its return of income for Assessment Year 2016-17. The
Assessing Officer issued notice under Section 148 on 29.06.2021 under the
erstwhile reassessment regime. Pursuant to the Supreme...
Section 68 Addition on Share Capital Remanded Where CIT(A) Exceeded Jurisdiction by Issuing Set-Aside Directions: ITO vs. Favourite Cloth Merchants Pvt. Ltd. (ITAT Kolkata)
Facts of the CaseThe assessee company filed its return of income for Assessment Year
2012-13 declaring total income of ₹480. The return was processed under Section
143(1) and later selected for scrutiny under CASS. N...
Artificial Intelligence in Professional Practice: From Efficiency to Precision
Artificial Intelligence in
Professional Practice: From Efficiency to Precision (For Chartered Accountants,
Cost & Management Accountants, Company Secretaries, Advocates, Accountants
& Allied Profess...
ITAT Delhi in Goswami Bhagwan Lal Education Society v ITO (ITA No. 2238/Del/2025, order dated 27.11.2025) holds that non-filing of Form 10B is a curable defect; denial of section 11 exemption and taxation of gross receipts under section 143(1) is impermissible.
ITAT Delhi-Goswami Bhagwan Lal
Education Society v. Income Tax Officer Exemption Ward FaridabadITA No. 2238/Del/2025 | Order
dated: 27 November 2025Coram: Shri Challa Nagendra Prasad
(JM) & Shri Avdhesh Kumar Mish...
Taxability of Consultancy Income under India–UAE DTAA vis-à-vis Significant Economic Presence (SEP), Article 14, India–UAE DTAA vs Section 9(1)(i): Vijay Mariappan Austin Prakash v ACIT (ITA No. 89/VIZ/2025)
Taxability of Consultancy Income
under India–UAE DTAA vis-à-vis Significant Economic Presence (SEP) Vijay Mariappan Austin Prakash v.
ACIT International Taxation Income Tax Office Visakhapatnam ITAT Visakh...
Delhi High Court on Refund of Tax Recovered Despite Stay – Section 220(6), Shree Krishna Steel Traders v Union of India (W.P.(C) 8187/2025)
Facts of the CaseThe petitioner, M/s Shree
Krishna Steel Traders, challenged the recovery of income-tax demand during
the pendency of its statutory appeal for Assessment Year 2021–22. The
Assessing Officer had passe...
Supreme Court Upholds Mauritius DTAA Grandfathering on Indirect Transfer of Shares — Tiger Global International Holdings vs Authority for Advance Rulings (2026 INSC 60)
Background of the CaseEvents Leading to the DisputeTiger Global, a global investment
group, divested a significant equity interest (approximately 17%) in Flipkart
in 2018 as part of Walmart Inc.’s acquisition o...
Assessment under Section 153C Invalid Without Incriminating Material: ITAT Delhi in JSP Projects (P) Ltd. v. DCIT
In JSP Projects (P) Ltd. v. Deputy Commissioner of Income Tax,
Central Circle-13, Delhi (ITAT Delhi, order dated 09 January 2026), the
Delhi Bench of the Income Tax Appellate Tribunal examined the validity of an
asses...
Exemption under Section 10(37) on Compulsory Acquisition of Urban Agricultural Land: ITAT Delhi in ITO v. Dharam Singh
In Income
Tax Officer, Ward-1(1), Faridabad v. Dharam Singh (ITAT Delhi, order dated
09 January 2026), the Delhi Bench of the Income Tax Appellate Tribunal dismissed
the Revenue’s appeal and upheld the grant of exem...
Penalty for Cash Deposits Not Sustainable Once Quantum Explained: ITAT Delhi in Mohd. Javed v. ITO
In
Mohd. Javed v. Income Tax Officer, Ward-48(1), Delhi (ITAT Delhi, order
dated 09 January 2026), the Delhi Bench of the Income Tax Appellate Tribunal
examined the validity of penalties imposed under Sections 271A an...