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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...
Section 56(2)(x) on Purchase of Agricultural Land: Mandatory DVO Reference Where Stamp Value is Disputed – Clayking Minerals LLP v. ITO (ITAT Ahmedabad)
The
Income Tax Appellate Tribunal, Ahmedabad Bench, in Clayking Minerals LLP v.
Income Tax Officer (ITA No. 82/Ahd/2025), examined the applicability of
Section 56(2)(x) of the Income Tax Act, 1961, to the purchase of ...
Supreme Court Stays Delhi High Court Ruling on Validity of AAR Order: Notice Issued in AAR v. Tiger Global International II Holdings
The
Supreme Court of India, in Authority for Advance Rulings (Income-tax) v.
Tiger Global International II Holdings (SLP (Civil) Diary No. 1251 of
2025), passed an interim order staying the operation, implementation, ...
Scope of Income-tax Department’s Appellate Powers: Kerala High Court Dismisses Revenue Writ Appeal – ACIT v. Mohammed Salih (2025)
The
Kerala High Court, in Assistant Commissioner of Income-tax v. Mohammed Salih
(WA No. 1413 of 2024), considered a writ appeal filed by the Income-tax
Department challenging the judgment of the learned Single Judge ...
Surcharge on Private Discretionary Trusts Taxed at MMR to Follow Slab Rates: ITAT Applies Special Bench Ruling – Araadhya Jain Trust v. ITO
The
Income Tax Appellate Tribunal, Mumbai (“K” SMC Bench), in Araadhya Jain
Trust v. Income-tax Officer (ITA No. 4272/Mum/2024), examined the correct
rate of surcharge applicable to a private discretionary trust w...
Section 54F Deduction for Private Trusts Assessed as Representative Assessees: ITAT Delhi Affirms Relief – ACIT v. Merilina Foundation
The
Income Tax Appellate Tribunal, Delhi (“E” Bench), in Assistant Commissioner
of Income-tax v. Merilina Foundation (ITA No. 1881/Del/2020 with C.O. No.
110/Del/2022), examined the validity of reassessment procee...
Penalty under Section 271(1)(c) Not Leviable on Estimated Additions: ITAT Mumbai Dismisses Revenue Appeal – ITO v. Spark Diamonds
The appeal filed by the Revenue arose from the
order passed by the National Faceless Appeal Centre under section 250 of the
Income-tax Act, 1961, relating to Assessment Year 2007-08. The impugned
appellate order had d...
Reduction of Share Capital Constitutes ‘Transfer’ Under Section 2(47): Supreme Court Reaffirms Capital Loss Allowability in PCIT v. Jupiter Capital Pvt. Ltd. (2025)
The
Supreme Court has reiterated the settled legal position that reduction of share
capital leading to extinguishment of shareholder rights amounts to a “transfer”
within the meaning of Section 2(47) of the Income...
Offence under Section 276CC of Income Tax Act: Supreme Court Clarifies “First Offence” and Compounding Guidelines
The Supreme Court examined the scope and
interpretation of Section 276CC of the Income Tax Act, 1961, and the
applicability of the Guidelines for Compounding of Offences under Direct Tax
Laws, 2014, in the context of ...
Section 80-IA(9) and Multiple Deductions under Chapter VI-A: Supreme Court Clarifies Allowability vs Computation in Shital Fibers Ltd. Case
The Supreme Court has conclusively interpreted the scope and application of
Section 80-IA(9) of the Income Tax Act, 1961, in the context of claims for
multiple deductions under Chapter VI-A. The controversy before the ...