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Section 43CA Does Not Apply to Transfer of TDRs, Rules ITAT Nagpur
ITAT Nagpur rules that Section 43CA of the Income Tax Act is inapplicable to the transfer of Transferable Development Rights as intangible assets.
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ITAT Mumbai Rules Section 92CA Reference Must Identify Specific Transaction
ITAT Mumbai rules that a Section 92CA reference must identify a transaction and the Transfer Pricing Officer cannot determine a Permanent Establishment.
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Understanding Salary Income Provisions Under the Income Tax Act
Explore the key provisions relating to salary income, perquisites, and deductions under Sections 15 to 19 of the Income Tax Act.
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Section 263 Cannot Be Invoked for Inadequate Inquiry ITAT Raipur Ruling
ITAT Raipur rules that Section 263 revision cannot be initiated for inadequate inquiry or roving enquiries when loan issues are examined.
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Telangana High Court Rules Section 264 Can Address Double Taxation Without Revised Return
Discover how the Telangana High Court ruled that Section 264 provides a remedy for double taxation of Rs. 6.85 crore even without a revised return.
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Income Tax Appeals: A Detailed Comparison Between The 1961 And 2025 Acts
Explore the key differences in appeal filing, timelines, and hierarchies between the Income Tax Acts of 1961 and 2025.
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Hyderabad ITAT Rules Reassessment on Existing Material Constitutes Change of Opinion
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) has issued a significant ruling concerning tax reassessment procedures. According to official reports, the tribunal quashed a reopening notice under…
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Panaji ITAT Rules AO Cannot Tax Loan Merely Doubting Creditor’s Creditworthiness
The ITAT ruled that tax officers cannot tax genuine loans under Section 68 solely by questioning a creditor financial standing.
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Section 263 Not Invocable for Non-Initiation of Section 270A Penalty: ITAT Ahmedabad
The ITAT Ahmedabad ruled that tax authorities cannot use Section 263 to revise assessments just because an officer skipped Section 270A penalties.
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Supreme Court Upholds Validity of DVO Reference Following Books of Account Rejection
Discover how the Supreme Court validated a DVO reference under Section 69B after tax authorities rejected a taxpayer books of account.