News

Investigators believe that these restaurants used several methods to suppress their sales, such as bulk deletion of billing records, deleting cash invoices, and underreporting sales.

Income Tax Department Launches Nationwide Search on Restaurants After Uncovering Rs 70,000 Suppressed Sales

Judgement

The Supreme Court refused to entertain a PIL, holding it cannot assume that a certain provision will be misused in the future, especially when there are already legal remedies available.

SC Denies Considering PIL Challenging Search Powers of Tax Authorities; Holds Concerns are Highly Speculative

ITAT held that amortization of goodwill arising from slump sale should be treated as an extraordinary expense and excluded while computing PLI under TNMM for transfer pricing

ITAT: Transfer Pricing Margin Must Exclude Goodwill Amortization From Slump Sale

ITAT held that revision under section 263 cannot be invoked where the Assessing Officer conducted a detailed inquiry on Section 14A disallowance

Income Tax: Section 263 Revision Invalid Where Assessing Officer Conducted Proper Inquiry

Articles

Pankaj Chaudhary said the government is introducing reforms in the Finance Bill 2026 to speed up income-tax dispute resolution.

121690 Income Tax Dispute pending in courts during last 3 years

ITAT held funtionally different company not comparable to a battery manufacturer; excise exemption claim remanded.

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Income Tax Department Launches Nationwide Search on Restaurants After Uncovering Rs 70,000 Suppressed Sales

SC Denies Considering PIL Challenging Search Powers of Tax Authorities; Holds Concerns are Highly Speculative

ITAT: Transfer Pricing Margin Must Exclude Goodwill Amortization From Slump Sale

Income Tax: Section 263 Revision Invalid Where Assessing Officer Conducted Proper Inquiry

121690 Income Tax Dispute pending in courts during last 3 years

ITAT: Functionally Different Company Cannot Be Treated Comparable In Transfer Pricing