Judgement

The ITAT Bangalore held that success fee of Rs 1.47 crore was wholly and exclusively incurred in connection with assessee’s sale of shares. 


ITAT Rules Advisory Fee Directly Linked to Share Divestment Qualifies as Deductible Transfer Expenditure

ITAT remanded a petrol pump operator’s case for fresh assessment after finding that the AO applied an 8% profit rate without considering past profits or comparable businesses.

ITAT Remands Rs 2.24 Crore Petrol Pump Income Case for Fresh Examination Over Unjustified 8% Profit Estimation

Notifications

The CBDT through the Directorate of Income Tax (Systems), has notified the guidelines for furnishing Statements of Financial Transactions (SFT-2518) relating to Mutual Fund transactions. 


Mutual Fund Transactions to Feed ITR Pre-Filling: CBDT Prescribes Half-Yearly SFT Reporting

The CBDT through the Directorate of Income Tax (Systems), has notified the guidelines for furnishing Statement of Financial Transactions (SFT-2517) relating to depository transactions. 


CBDT Notification: Half-Yearly SFT Reporting by Depositories to Facilitate Capital Gains Pre-Filling in ITRs

The Karnataka High Court says custodial interrogation not necessary in genuine transactions.

High Court Grants Anticipatory Bail to GST Purchasers Accused of Availing Bogus ITC

The Calcutta High Court has held that bank cannot freeze account without evidence of Fraud.

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ITAT Rules Advisory Fee Directly Linked to Share Divestment Qualifies as Deductible Transfer Expenditure

ITAT Remands Rs 2.24 Crore Petrol Pump Income Case for Fresh Examination Over Unjustified 8% Profit Estimation

Mutual Fund Transactions to Feed ITR Pre-Filling: CBDT Prescribes Half-Yearly SFT Reporting

CBDT Notification: Half-Yearly SFT Reporting by Depositories to Facilitate Capital Gains Pre-Filling in ITRs

High Court Grants Anticipatory Bail to GST Purchasers Accused of Availing Bogus ITC

High Court Holds Mere Suspicion of ‘Mule Account’ Insufficient to Freeze Account