Judgement

The ITAT upheld a Rs 1.44 crore addition for unexplained demonetisation cash deposits, rejecting the assessee’s claim of accountant-led fraud due to lack of evidence.

Accountant Fraud Defence Fails: ITAT Upholds Rs 1.44 Crore Addition in Demonetisation Deposit Case 

The Supreme Court has upheld the High Court’s decision reversing the ITAT’s findings and has dismissed the company’s civil appeals.

SC Dismisses Appeals of United Breweries, Upholds High Court in Tax Dispute

SC upholds quashing of reassessment, finds reopening based on change of opinion invalid

SC Declines to Interfere in Reopening Dispute; Revenue’s SLP Dismissed

Apex Court Refuses to Revisit High Court’s Ruling that Interconnect Service Charges Are Not Royalty

Supreme Court Upholds HC Ruling; Interconnect Charges Not Taxable as Royalty

The ITAT upheld that since the land was agricultural and not converted for non-agricultural use before the sale, it did not qualify as a taxable capital asset.

Agricultural Land Does Not Lose Its Character if Converted for Industrial Use After Sale: ITAT

News

Solara Active Pharma Sciences has received a Rs 161.92 crore income tax demand for AY20 over expense disallowances and plans to challenge the order, stating no impact on operations.

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Accountant Fraud Defence Fails: ITAT Upholds Rs 1.44 Crore Addition in Demonetisation Deposit Case

SC Dismisses Appeals of United Breweries, Upholds High Court in Tax Dispute

SC Declines to Interfere in Reopening Dispute; Revenue’s SLP Dismissed

Supreme Court Upholds HC Ruling; Interconnect Charges Not Taxable as Royalty

Agricultural Land Does Not Lose Its Character if Converted for Industrial Use After Sale: ITAT

Solara Active Pharma Sciences Faces Rs 161.92 Crore Income Tax Demand