Judgement

The ITAT Mumbai held that Reassessment cannot bypass Section 153C when its foundation is material seized during search of another person.

ITAT Quashes Section 148 Reassessment Based on Third-Party Search Material

The ITAT Delhi holds unsecured loans and share capital received from existing directors cannot be treated as Unexplained Cash Credits.

 ITAT Deletes Section 68 Addition on Loans and Share Capital from Directors

News

Rakul Preet Singh denies any link to the Income Tax searches, calling reports false and speculative while urging media outlets to verify facts before publication.

Rakul Preet Singh Breaks Silence on Income Tax Searches, Denies Any Link to Probe and Calls Reports False And Speculative

Emcure Pharmaceuticals faces a total Rs 57.74 crore income tax penalty for FY2014-15 to FY2020-21 and is evaluating legal options to appeal the orders.

Income Tax Department Imposes Rs 57.74 Crore Penalties on Emcure Pharmaceuticals for Seven Financial Years

The ITAT Ahmedabad follows Gujarat High Court Ruling and holds Nil ALP Determination unsustainable without proper benchmarking.

ITAT Deletes Rs. 20.17 Crore Transfer Pricing Adjustment on Intra-Group Services 

The ITAT Ahmedabad held that revenue must establish specific nexus between accommodation-entry provider and assessee’s sales transactions.


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ITAT Quashes Section 148 Reassessment Based on Third-Party Search Material

ITAT Deletes Section 68 Addition on Loans and Share Capital from Directors

Rakul Preet Singh Breaks Silence on Income Tax Searches, Denies Any Link to Probe and Calls Reports False And Speculative

Income Tax Department Imposes Rs 57.74 Crore Penalties on Emcure Pharmaceuticals for Seven Financial Years

ITAT Deletes Rs. 20.17 Crore Transfer Pricing Adjustment on Intra-Group Services

ITAT Remits Rs. 1.80 Crore Section 68 Addition for Fresh Verification of Accommodation Entries