News

Cummins India said it received a Rs 95.26 lakh income tax penalty order for AY 2018-19 and is evaluating legal options, including an appeal.

Cummins India Faces Rs 95.26 Lakh Income Tax Penalty, Says Order Was Passed Without Adequate Opportunity to Present Submissions

ITAT allows Tata Steel’s Rs 813.65 crore interest expenditure deduction claim for FY 2008-09, reducing the company’s expected tax exposure by around Rs 427 crore.

ITAT Allows Tata Steel’s Rs 813.65 Crore Interest Expenditure Deduction Claim, Tax Exposure Drops to Rs 1,259 Crore

Pfizer India faces a Rs 1.26 crore penalty under Section 271G over alleged non-submission of detailed information during a FY23 transfer pricing audit.

Pfizer India Receives Rs 1.26 Crore Penalty Order From Income Tax Department Over Transfer Pricing Audit for FY23

Mumbai Income Tax searches linked to Rakul Preet Singh, Vashu Bhagnani and Panorama Studios probe suspected financial irregularities and overseas film-financing transactions.

Rakul Preet Singh, Vashu Bhagnani Face IT Scrutiny as Mumbai Raids Probe Financial Irregularities

Judgement

The ITAT Delhi held that Investigation Wing Report and SEBI findings alone cannot establish bogus LTCG without independent evidence.


ITAT Deletes Section 68 Addition on LTCG from Penny Stocks for Lack of Direct Evidence

The ITAT Delhi has Quashed assessment as Time-Barred where limitation ran from transfer of Assessee’s case under Section 127.

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Cummins India Faces Rs 95.26 Lakh Income Tax Penalty, Says Order Was Passed Without Adequate Opportunity to Present Submissions

ITAT Allows Tata Steel’s Rs 813.65 Crore Interest Expenditure Deduction Claim, Tax Exposure Drops to Rs 1,259 Crore

Pfizer India Receives Rs 1.26 Crore Penalty Order From Income Tax Department Over Transfer Pricing Audit for FY23

Rakul Preet Singh, Vashu Bhagnani Face IT Scrutiny as Mumbai Raids Probe Financial Irregularities

ITAT Deletes Section 68 Addition on LTCG from Penny Stocks for Lack of Direct Evidence

ITAT Dismisses Revenue Appeal in Section 153C Limitation Dispute