Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Quashes Section 263 revision, holds Section 69C inapplicable where source of payment remains undisputed
Quashes Section 263 revision, holds Section 69C inapplicable where source of payment remains undisputedDelhi ITAT quashes revisionary proceedings under Section 263, holding that Section 69C could not be invoked in the ab...
Dividend/interest income not profit ‘derived’ from business, ineligible for Section 36(1)(viii) deduction claim
Dividend/interest income not profit ‘derived’ from business, ineligible for Section 36(1)(viii) deduction claimIn a judgment pronounced on 10.12.2025, Supreme Court dismisses assessee’s (National Cooperative Develo...
Notices issued under section 148 by JAO post April 1, 2022, valid & legal; Faceless scheme does not mandate faceless issuance
Notices issued under section 148 by JAO post April
1, 2022, valid & legal; Faceless scheme does not mandate faceless issuanceWhile adjudicating the validity of notice issued by
Jurisdictional Assessing Officer (JAO...
Estimation Theory Not Applicable for Entirely Bogus Purchases: Mumbai ITAT Restores Full Addition in DCIT v. Deepak Shah (2025)
Estimation theory inapplicable where entire
purchases are non-genuine; Restores addition Mumbai
ITAT allows Revenue’s appeal and
reverses CIT(A) order and restores addition on account of purchases being
ent...
Severance compensation constitutes ‘profits in lieu of salary’, not capital receipts, under amended Section 17(3)(iii)
Severance compensation constitutes ‘profits in lieu of salary’, not capital receipts, under amended Section 17(3)(iii)Hyderabad ITAT holds that the severance compensation of Rs. 26,97,912/- received by the Assessee i...