Judgement

The tribunal held that the approval given by the PCIT is incorrect and the reopening of the assessment proceeding is also invalid.

PCIT Must Reflect an Independent Application of Mind Before Giving Approval for Reopening Assessment: ITAT

Articles

From 1 April 2026, old Income Tax Act of 1961 will be discontinued, as mentioned in Section 536 of new Income Tax Act, 2025.

Income Tax Breaking: TDS/TCS Corrections Will Not Be Accepted After This Date

Tribunal holds that disclosed foreign investments made by assessee for minor daughters cannot be treated as unexplained and upholds allowance of foreign tax credit

ITAT Upholds Deletion of Addition on Foreign Investments; Allows Foreign Tax Credit

ITAT grants assessee another opportunity to explain demonetisation-period cash deposits, but imposes Rs.10,000 cost for negligent non-compliance before CIT(A)

ITAT Gives Assessee One More Chance on Demonetisation Cash Deposits, But With a Cost

ITAT rules that marker testing and double haploid service receipts of Nunhems Netherlands are taxable as royalty under India–Netherlands DTAA

ITAT: Marker Testing Receipts Taxable as Royalty; IT Support Reimbursements Not FTS under India-Netherlands DTAA

Short-term fund transfer between group companies held outside Section 2(22)(e); loan not taxable as deemed dividend in recipient company’s hands.

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

PCIT Must Reflect an Independent Application of Mind Before Giving Approval for Reopening Assessment: ITAT

Income Tax Breaking: TDS/TCS Corrections Will Not Be Accepted After This Date

ITAT Upholds Deletion of Addition on Foreign Investments; Allows Foreign Tax Credit

ITAT Gives Assessee One More Chance on Demonetisation Cash Deposits, But With a Cost

ITAT: Marker Testing Receipts Taxable as Royalty; IT Support Reimbursements Not FTS under India-Netherlands DTAA

ITAT: Loan Between Sister Companies Not Deemed Dividend Under Section 2(22)(e)