Judgement

The Bengaluru ITAT deleted a Rs 1.20 crore disallowance on business development and marketing expenses while remanding a Rs 37.48 lakh issue for fresh examination.

ITAT Deletes Rs 1.20 Crore Disallowance on Business Development and Marketing Expenses

The ITAT Bangalore has held that proceedings initiated under Section 153C are without jurisdiction where the date of initiation of search falls on or after 1 April 2021. 

 ITAT Rules that Section 153C Cannot Be Invoked Where the Date of Search for 'Other Person' Falls After 1 April 2021

The ITAT reduces estimated profit rate from 8% to 4% for a Kashmir medicine trader after considering business nature and difficulties in producing books of account.

ITAT Lowers Estimated Profit Rate from 8% to 4% After Considering State Shutdown and Medicine Trade Margins

News

Bombay HC restores Tata Steel’s tax writ petition, allowing the company to challenge the retrospective reassessment law and contest the Rs 25,185.51 crore loan waiver tax dispute.

Tata Steel Tax Case Revived After Bombay HC Restores Writ Petition

The ITAT held that cash deposited during demonetisation was part of the assessee's business turnover and directed the AO to estimate income at a 6% net profit rate.

Cash Deposited During Demonetisation Cannot Be Taxed Under Section 69A if Linked to Business, Holds ITAT 

The ITAT Delhi has held that a reassessment completed without issuing the mandatory notice under Section 143(2) is void in law. 

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ITAT Deletes Rs 1.20 Crore Disallowance on Business Development and Marketing Expenses

ITAT Rules that Section 153C Cannot Be Invoked Where the Date of Search for 'Other Person' Falls After 1 April 2021

ITAT Lowers Estimated Profit Rate from 8% to 4% After Considering State Shutdown and Medicine Trade Margins

Tata Steel Tax Case Revived After Bombay HC Restores Writ Petition

Cash Deposited During Demonetisation Cannot Be Taxed Under Section 69A if Linked to Business, Holds ITAT

ITAT Rules That Reassessment Proceedings Invalid Without Mandatory Notice under Section 143(2)