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Taxability of Crowdfunded Donations under Section 56(2)(x) and Validity of Proceedings under Section 175 – Rana Ayyub Shaikh v. DCIT (ITAT Mumbai)
The
Income Tax Appellate Tribunal, Mumbai Bench, in Ms. Rana Ayyub Shaikh v.
Deputy Commissioner of Income-tax (ITA Nos. 2281, 2282 &
2283/Mum/2023), examined the taxability of amounts received through
crowdfundi...
Income Declared Under Income Disclosure Scheme, 2016 Cannot Be Taxed Again – ITAT Mumbai in Jankalyan Nagari Sahakari Patsanstha Case, JANKALYAN NAGARI SAHAKARI PATSANSTHA MAR SHAHAPUR,SHAHAPUR VS. DCIT CIRCLE 1, KALYAN
The assessee, a co-operative credit
society, had not originally filed its return of income for the relevant
assessment year. Based on information available regarding substantial cash and
deposit transactions, the Asse...
Power of Attorney and Agreement to Sell Do Not Convey Title or Survive Death of Principal: Supreme Court Reaffirms Law – M. S. Ananthamurthy v. J. Manjula
The
Supreme Court of India, in M. S. Ananthamurthy & Anr. v. J. Manjula
& Ors. (Civil Appeal Nos. 3266–3267 of 2025), examined the legal effect
of a General Power of Attorney (GPA) and an unregistered agreem...
Reduction of Share Capital Results in Transfer under Section 2(47): Supreme Court Upholds Capital Loss – Jupiter Capital (P.) Ltd. v. PCIT
The
Supreme Court of India, in Jupiter Capital (P.) Ltd. v. Principal
Commissioner of Income-tax (2025 INSC 38), examined whether reduction of
share capital of a subsidiary company resulting in proportionate reduction...
Reassessment Not Invalid Where Original Escapement Issue Is Voluntarily Offered; Other Issues Can Be Examined: ITAT Mumbai in Kalpana Nitin Shah v. ITO
The Mumbai Bench of the Income Tax Appellate Tribunal
examined the validity of reassessment proceedings initiated under Section 147
of the Income Tax Act, 1961, and the legality of an addition made on account of
inter...
Section 87A Rebate on STCG under New Tax Regime: ITAT Allows Rebate under Section 115BAC(1A) – Jayshreeben Jayantibhai Palsana v. ITO
The Income Tax Appellate Tribunal, Ahmedabad (SMC Bench), in Jayshreeben
Jayantibhai Palsana v. Income-tax Officer (ITA No. 1014/Ahd/2025), examined
the eligibility of a resident individual assessee to claim rebate und...
Change in Method of Revenue Recognition under AS-7 – Mere Timing Difference Not Taxable: ITAT Delhi in Halcrow Group Ltd v. DCIT
The
assessee, M/s Halcrow Group Ltd, a company incorporated in the United
Kingdom, is engaged in providing planning, design, and management services for
infrastructure projects worldwide. For the Assessment Year 2013-...
Section 54F Exemption Cannot Be Denied on Technical Grounds: ITAT Hyderabad Upholds Liberal Interpretation – ITO v. Narasimha Reddy Duthala
The
Income Tax Appellate Tribunal, Hyderabad Bench, in Income-tax Officer v.
Narasimha Reddy Duthala (ITA No. 1113/Hyd/2024), examined the allowability
of exemption under Section 54F of the Income-tax Act, 1961, in re...
Cancellation of Section 12A Registration Without Proper Show Cause is Invalid – ITAT Mumbai in NICMAR vs DCIT (Exemptions)
The assessee, a charitable trust
engaged in imparting education in the field of construction management and
research, was granted registration under Section 12A of the Income Tax Act.
Subsequently, based on a referenc...
Hotel Premises Constitute Fixed Place Permanent Establishment under Indo–UAE DTAA: Supreme Court Upholds Taxability – Hyatt International Southwest Asia Ltd. v. ADIT
The
Supreme Court of India, in Hyatt International Southwest Asia Ltd. v.
Additional Director of Income-tax (Civil Appeal Nos. 9766–9773 of 2025),
examined whether the appellant, a company incorporated in Dubai and ...