India -

Supreme Court Dismisses Plea Against Rajya Sabha Nomination Rejection

Supreme Court Dismisses Plea Against Rajya Sabha Nomination RejectionIn a significant reinforcement of constitutional immunity for electoral processes, the Supreme Court of India recently dismissed a writ petition filed by ...

12 Jun 2026

India - Income Tax Appellate Tribunal

ITAT Delhi Deletes ₹3,885 Cr Tax Addition on OYO Share Premium Under Section 56(2)(viib): Court Refuses to Revisit Valuation

The Battle of Valuations: OYO Wins Relief Against Massive 'Angel Tax' AdditionIn a landmark ruling that brings significant relief to the hospitality unicorn OYO, the Income Tax Appellate Tribunal (ITAT) Delhi Bench has deleted a staggerin...

12 Jun 2026

India - Income Tax Appellate Tribunal

Absence of Satisfaction Under Section 14A and Debatable Issues Bar Penalty Imposition: ITAT Bangalore

ITAT Bangalore Clarifies Limits on Tax Penalties and Section 14A Disallowances In a significant ruling for taxpayers, the Income Tax Appellate Tribunal (ITAT) Bangalore has reinforced the necessity of procedural rigor in tax assessment. The bench, comprising Vice-President Shri...

03 Jun 2026

India - Income Tax Appellate Tribunal

Mere Disallowance of Legal Claim Does Not Warrant Penalties u/s 271(1)(c): ITAT Delhi Bench Rules in Jet Lite Case

ITAT Delhi: Bona Fide Legal Claims Do Not Attract Penalty for 'Inaccurate Particulars' In a significant ruling for corporate taxpayers, the Income Tax Appellate Tribunal (ITAT), Delhi Bench, has clarified the threshold for levying penalties under the Income Tax A...

03 Jun 2026

India - Income Tax Appellate Tribunal

ITAT Delhi: Ad-hoc Addition Under Section 68 of Income Tax Act Cannot Be Sustained on Mere Conjecture Without Evidence

ITAT Delhi Limits Revenue's Power to Disregard "Concocted" Cash Sales Without Evidence In a significant ruling for taxpayers facing scrutiny over cash deposits made during the 2016 demonetization period, the Income Tax Appellate Tribunal (ITAT) Delhi has curtaile...

03 Jun 2026

India - Income Tax Appellate Tribunal

Substantial Compliance Allows Section 35(2AB) Deduction Despite Procedural Delay in Filing Audit Report: ITAT Hyderabad

Beyond Technicalities: ITAT Hyderabad Upholds R&D Deduction Despite Reporting Delays In a significant ruling for corporate taxpayers, the Income Tax Appellate Tribunal (ITAT) Hyderabad has affirmed that procedural delays in filing statutory audit reports should n...

03 Jun 2026

India - Income Tax Appellate Tribunal

ITAT Rules Additions Under Sections 69 and 69C Must Be Supported by Corroborative Evidence, Not Just Assessee Statements

The Perils of 'Confession-Only' Tax Assessments: A Landmark Verdict In a significant ruling for taxpayers, the Income Tax Appellate Tribunal (ITAT), Hyderabad ‘B’ Bench, has underscored that tax authorities cannot impose additions based purely on an assessee’s statements during...

03 Jun 2026

India - Income Tax Appellate Tribunal

ITAT Jabalpur: Revenue Cannot Charge Compensatory Interest Under Sections 234A, 234B, and 234C When Holding Sufficient Seized Cash

ITAT Jabalpur: Taxpayer Not Liable for Compensatory Interest When Revenue Holds "Escrow-Like" Seized Cash In a significant relief to taxpayers, the Jabalpur Bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the Revenue cannot penaliz...

03 Jun 2026

India - Income Tax Appellate Tribunal

AMP Expenses Not 'International Transactions' Under Section 92B: ITAT Kolkata Rules in Akzo Nobel India Tax Dispute

Breaking Down the Tax Burden: ITAT Kolkata Clarifies Key Transfer Pricing Principles for Akzo Nobel In a significant series of rulings covering seven assessment years, theKolkata “C” Bench of theIncome Tax AppellateTribunal(ITAT) has provided much-needed clarity on the tax treatment of expens...

03 Jun 2026

India - Income Tax Appellate Tribunal

Retrospective Application of Section 12AB(4) for Trust Registration Cancellation is Illegal: ITAT Bangalore Bench

Beyond the Law: ITAT Bangalore Decries Retrospective Cancellation of Trust Registration In a significant ruling for charitable entities, theIncome Tax Appellate Tribunal (ITAT) Bangalorehas struck down an attempt by tax authorities to retrospectively apply 2022 legislative amendments to cance...

24 Mar 2025