Judgement

The ITAT holds that CSR-driven environmental activities do not qualify as charitable purpose under the Income-tax Act where the dominant and exclusive benefit accrues to the promoter company, despite incidental environmental benefits.

ITAT Denies 12AB & 80G to Infosys Green Forum: CSR Is Not Charity, Even If It Incidentally Saves the Environment

The High Court rules that delay in statutory audit appointment and audit completion constitutes genuine hardship, condoning late ITR filing and directing tax authorities to adopt a liberal, justice-oriented approach under Section 119(2)(b).

Audit Delay Is Genuine Hardship: High Court Condones Late ITR Filing, Urges Liberal Approach

Shares received on amalgamation can be taxed as business income if held as stock-in-trade

Supreme Court Rules on Taxability of Shares in Amalgamation: Stock-in-Trade vs. Capital Assets

Tribunal held that long-outstanding unsecured loans cannot be treated as taxable income in absence of any evidence of waiver or write-off.

Waiver of Loan Cannot be Considered to be a 'Benefit' Without Specific Acknowledgment from Lenders: ITAT

Tribunal remands Section 69A addition for fresh verification and rejects ad hoc 8% profit estimation where audited books showed 7% margin

ITAT: 8% Profit Estimation Unjustified When Books Are Audited & No Incriminating Material Is Found

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ITAT Denies 12AB & 80G to Infosys Green Forum: CSR Is Not Charity, Even If It Incidentally Saves the Environment

Audit Delay Is Genuine Hardship: High Court Condones Late ITR Filing, Urges Liberal Approach

Supreme Court Rules on Taxability of Shares in Amalgamation: Stock-in-Trade vs. Capital Assets

Waiver of Loan Cannot be Considered to be a 'Benefit' Without Specific Acknowledgment from Lenders: ITAT

ITAT: 8% Profit Estimation Unjustified When Books Are Audited & No Incriminating Material Is Found

New Amended Income Tax Act 2025 Comes into Force from April 1: Here's What Taxpayers Should Know