Judgement

The ITAT had directed the AO to allow the deduction under Section 10A, ruling that Section 10A(9) was no longer applicable due to an amendment in 2004.

ITAT Allows Deduction Claim Under Section 10A of Income Tax Act Subject to Verification

Articles

Section 154 allows taxpayers or the Income-tax Department to correct mistakes apparent on record in tax orders.

Understanding Rectification of Income-tax Mistakes Under Section 154

The Tribunal held that the approval granted by the PCIT was in a mechanical way and without the independent application of mind and the same is invalid.

ITAT Quashes Reassessment Due to PCIT's Mechanical Approval

ITAT deletes Rs.22.35 crore AMP transfer pricing adjustment, holding that Bright Line Test has no statutory basis and is rejected by High Court.

ITAT Delhi Rejects Bright Line Test; Deletes Rs. 22.35 Crore AMP Adjustment in Swatch India Case

High Court quashes Section 148 notices issued to non-searched persons, holding that search-based material must be assessed only under Section 153C.

High Court Quashes Reassessment Notices Issued to Non-Searched Persons Using Search Material

The Court upheld the decision of ITAT that for a transaction to be a business income, there must be regularity, frequency, volume and continuity.

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

ITAT Allows Deduction Claim Under Section 10A of Income Tax Act Subject to Verification

Understanding Rectification of Income-tax Mistakes Under Section 154

ITAT Quashes Reassessment Due to PCIT's Mechanical Approval

ITAT Delhi Rejects Bright Line Test; Deletes Rs. 22.35 Crore AMP Adjustment in Swatch India Case

High Court Quashes Reassessment Notices Issued to Non-Searched Persons Using Search Material

Profit from Sale of Land Should Be Taxed as Capital Gains, Not Business Income: Madras HC