Judgement

ITAT rules the ARC trust as a pass-through; income from NPAs is taxable in SR holders.

ITAT Holds Securitisation Trust Not Taxable; Income Taxable in Investors’ Hands

ITAT allows compensation deduction on share deal cancellation and rejects the allegation of a tax avoidance device.

ITAT Allows Contractual Compensation Deduction; Rejects Colourable Device Allegation

The High Court annulled the ex-parte assessment and referred the case for new adjudication, determining that sending notices to incorrect email addresses breached the principles of natural justice and denied the petitioner a fair chance to present their case.

Income Tax Reassessment Passed Ex Parte Due to Notices Sent to Wrong Email

The High Court of Karnataka cancelled the tax orders after finding the company wasn’t given a fair chance to respond due to a communication gap with its auditor.

Company Blindsided by Income Tax Notices Sent to Auditor: High Court Steps In & Quashes Entire Proceedings

Press Release

The CBDT clarified that the ITCC was not mandatory for all travelers. It applied only in rare cases involving serious financial issues or pending tax dues exceeding Rs 10 lakh, correcting widespread misinformation.

Income Tax Clearance Certificate Not Mandatory for All Indian Travelers; CBDT Clears Confusion

Court follows its earlier ruling in assessee’s brother’s case; holds that concurrent factual findings cannot be disturbed in absence of perversity.

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ITAT Holds Securitisation Trust Not Taxable; Income Taxable in Investors’ Hands

ITAT Allows Contractual Compensation Deduction; Rejects Colourable Device Allegation

Income Tax Reassessment Passed Ex Parte Due to Notices Sent to Wrong Email

Company Blindsided by Income Tax Notices Sent to Auditor: High Court Steps In & Quashes Entire Proceedings

Income Tax Clearance Certificate Not Mandatory for All Indian Travelers; CBDT Clears Confusion

HC Dismisses Revenue Appeal, Says No Substantial Question of Law Where No Incriminating Material Found