Judgement

Non-compete payments protect business profitability and do not create capital assets; interest on advances to sister concerns allowed on commercial expediency

Supreme Court Declares Non-Compete Fee as Revenue Expenditure: Deduction Allowed Under Section 37

HC holds that DRI officers are proper officers post-Canon India review and rejects the belated plea of non-service of SCNs.

Delhi High Court Revives DRI Customs Proceedings After Canon India Review; Dismisses Writs

High Court Revives DRI Customs Proceedings After Canon India Review; Dismisses Writs

ITAT quashes TP assessments of tollway companies, holding that Section 144C does not override the outer limitation under Section 153 despite DRP directions

ITAT: DRP Route Cannot Save Time-Barred TP Assessments Under Section 153

ITAT Jabalpur Relief to Jeweller: Survey Surrender Cannot Override Documentary Evidence; All Major Additions Deleted

ITAT Deletes Survey-Based Additions: Retraction Accepted Where Supported by Contemporaneous Evidence

The ITAT held that PCIT cannot pass a revision order invoking section 263 of the Act without first challenging the statutory approval under Section 153D.

PCIT Cannot Revise Order Without Annulling or Challenging Statutory Approval u/s 153D: ITAT

ITAT upheld 8% presumptive profit for AY 2015-16 and partly allowed relief for AY 2020-21 by taxing genuine contract receipts on a presumptive basis while denying unproven deductions.

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Supreme Court Declares Non-Compete Fee as Revenue Expenditure: Deduction Allowed Under Section 37

High Court Revives DRI Customs Proceedings After Canon India Review; Dismisses Writs

ITAT: DRP Route Cannot Save Time-Barred TP Assessments Under Section 153

ITAT Deletes Survey-Based Additions: Retraction Accepted Where Supported by Contemporaneous Evidence

PCIT Cannot Revise Order Without Annulling or Challenging Statutory Approval u/s 153D: ITAT

ITAT Upholds 8% Profit Estimation for AY 2015-16; Grants Partial Relief for AY 2020-21