Judgement

ITAT rules that once Form 10-IC is filed before the due date, the concessional tax regime under Section 115BAA applies to subsequent years; CPC’s higher tax demand is deleted

ITAT Delhi: Filing Form 10-IC Once Before Due Date Makes Company Eligible for Section 115BAA Concessional Tax Rate

High Court upheld ITAT’s decision deleting addition on alleged penny stock LTCG, holding AO’s action based on unshared information and lack of evidence.

Long-held investments, sold on recognized stock exchange: Gujarat HC Dismisses Penny Stock Case

ITAT says that a mere incorrect claim under Section 35D does not amount to furnishing inaccurate particulars

ITAT: No Penalty on Yes Bank for Income Tax Addition made on Debatable Issue

High Court upholds ITAT’s order deleting 6.31 crore addition, holding that unverified documents alone cannot establish undisclosed investment

Gujarat HC deletes Rs. 6.31 Crore Income Tax Addition solely based on unverified document

ITAT Delhi held that an NRI seller is entitled to TDS credit in the correct assessment year even if the buyer deposits the tax late.

Tribunal Rules Seller Cannot Be Denied TDS Credit Due to Buyer’s Late Payment

ITAT Delhi rules that the Section 69C addition is invalid as the Assessing Officer acted beyond the show cause notice, violating natural justice and procedural fairness, allowing the assessee’s appeal.

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ITAT Delhi: Filing Form 10-IC Once Before Due Date Makes Company Eligible for Section 115BAA Concessional Tax Rate

Long-held investments, sold on recognized stock exchange: Gujarat HC Dismisses Penny Stock Case

ITAT: No Penalty on Yes Bank for Income Tax Addition made on Debatable Issue

Gujarat HC deletes Rs. 6.31 Crore Income Tax Addition solely based on unverified document

Tribunal Rules Seller Cannot Be Denied TDS Credit Due to Buyer’s Late Payment

Income Tax assessment order cannot travel beyond the scope of the show cause notice