Judgement

The ITAT quashed a Rs 18.94 lakh penalty, holding that vague and non-specific penalty notices violate principles of natural justice and cannot be sustained in law.

ITAT deletes penalty in fake Income Tax deduction case for Defective Penalty Notice

ITAT held that damages paid for delayed supply under contractual terms are compensatory in nature and allowable as business expenditure under Section 37.

Breach of Contract Damages Are Not Penalties, Income Tax Deduction Allowed: ITAT

SC holds Pride Foramer S.A. was still carrying on business despite no contract or PE; allows Section 37 expenditure and Section 32(2) depreciation set-off; restores ITAT order.

Supreme Court: Temporary Commercial Lull Cannot Deny Income Tax Deductions to Non-Resident Company

News

Under the ITR 2025 rules, it will not be possible for tax return filers to make false income tax deductions and claim refunds this year. Know more details below.

ITR Filing under Old Tax Regime made more difficult: Know How

Income Tax Deduction of Rs. 577.98 Crores claimed by companies on account of Donation to political parties

Deduction of Rs. 577.98 Crores claimed by companies on account of Donation to political parties

Circulars

CBDT has issued an important circular on Income Tax Deductions From Salaries During the FY 2024-25.

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ITAT deletes penalty in fake Income Tax deduction case for Defective Penalty Notice

Breach of Contract Damages Are Not Penalties, Income Tax Deduction Allowed: ITAT

Supreme Court: Temporary Commercial Lull Cannot Deny Income Tax Deductions to Non-Resident Company

ITR Filing under Old Tax Regime made more difficult: Know How

Deduction of Rs. 577.98 Crores claimed by companies on account of Donation to political parties

CBDT issues important circular on Income Tax Deductions From Salaries During FY 2024-25 [Read Circular]