Judgement

The ITAT Delhi held in favour of the taxpayer and allowed the claims relating to project abandonment expenses, lease rent payments, and administrative expenses for the AY 2015-16.

ITAT: Expenses Linked to Abandoned Project Cannot Remain Capitalised; Must Be Allowed as Deduction

News

Form 40 allows eligible taxpayers to defer taxation of foreign retirement account income.

ITR Filing 2026: How Form 40 Helps NRIs and Returning Indians Avoid Double Taxation on Foreign Retirement Accounts

The Income Tax Department has identified nearly 15,000 to 20,000 cases where taxpayers allegedly reduced their tax liability by claiming deductions and exemptions under incorrect provisions of the Income-tax Act.

Income Tax Department Flags 20,000 Cases of Wrong Deduction Claims Through Swapped Provisions Tax Strategy

The Income Tax Appellate Tribunal (ITAT) Delhi held that professional legal services provided by foreign law firms cannot automatically be treated as Fees for Technical Services (FTS) under Section 9(1)(vii) of the Income Tax Act.

ITAT Deletes Addition Against UK LLP Holding Legal Services by Foreign Law Firm Not Taxable as FTS

The Income Tax Appellate Tribunal (ITAT) Ahmedabad has restored the issue relating to addition under Section 56(2)(x) of the Income Tax Act, 1961 to the file of the Assessing Officer for fresh adjudication.

ITAT Remands Addition Made on Property Purchase Value Difference And Directs Fresh Examination of the Addition under Section 56(2)(x)

ITAT held that where corresponding sales are accepted, only the profit element embedded in alleged bogus purchases can be taxed, restricting the addition to 8% of the disputed purchases

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ITAT: Expenses Linked to Abandoned Project Cannot Remain Capitalised; Must Be Allowed as Deduction

ITR Filing 2026: How Form 40 Helps NRIs and Returning Indians Avoid Double Taxation on Foreign Retirement Accounts

Income Tax Department Flags 20,000 Cases of Wrong Deduction Claims Through Swapped Provisions Tax Strategy

ITAT Deletes Addition Against UK LLP Holding Legal Services by Foreign Law Firm Not Taxable as FTS

ITAT Remands Addition Made on Property Purchase Value Difference And Directs Fresh Examination of the Addition under Section 56(2)(x)

ITAT Restricts Bogus Purchase Addition to 8% Profit Element, Grants Major Relief to Taxpayer