Judgement

The ITAT Delhi has held that once the AO has made an inquiry the PCIT cannot invoke Section 263 merely because he considers that more detailed inquiries should have been undertaken.


ITAT Rules Mere inadequacy of Inquiry is not a Ground to Invoke Section 263 

Tribunal grants relief on Section 80-IE, Section 14A, MAT adjustments and Debenture Redemption Reserve.

ITAT Allows Section 80-IE, Deletes Section 14A and MAT Additions

Tribunal condones delayed appeal with costs, remands capital gains and Section 54F claims for reconsideration.

ITAT Condones 433-Day Delay, Restores Section 54F and Capital Gains Issues

Tribunal rejects unsubstantiated gift claim, allows limited relief under CBDT Instruction on gold possession.

ITAT Upholds Section 69A Addition, Grants Relief for Permissible Gold Holding

Notifications

The CBDT has notified the following payments receivable by IFSC Units as eligible for TDS exemption under the Income-tax Act, 2025.

CBDT Issues Notification for Exemption from TDS on Certain Payments to IFSC Units under Income-tax Act, 2025

The ITAT granted partial relief to Moradabad Zila Sahkari Bank by allowing key deductions, preventing double taxation, and permitting ex-gratia payments as business expenditure.

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ITAT Rules Mere inadequacy of Inquiry is not a Ground to Invoke Section 263

ITAT Allows Section 80-IE, Deletes Section 14A and MAT Additions

ITAT Condones 433-Day Delay, Restores Section 54F and Capital Gains Issues

ITAT Upholds Section 69A Addition, Grants Relief for Permissible Gold Holding

CBDT Issues Notification for Exemption from TDS on Certain Payments to IFSC Units under Income-tax Act, 2025

ITAT Grants Major Relief to Moradabad Zila Sahkari Bank in Tax Appeals