AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Gujarat High Court upheld the dismissal of a ₹1 crore addition under Section 68 after confirming the loan's identity, source, and repayment evidence.
The Rajasthan High Court ruled that reassessment notices sent posthumously were invalid; however, the Revenue may proceed against legal representatives per law.
Delhi HC ruled that time taken by an assessee for response is excluded from the reassessment limitation period, validating the initiation of proceedings.
The Gujarat High Court upheld the deletion of LTCG additions, concluding the Revenue's claims were based on assumptions without substantial evidence.
The Equalisation Levy imposed on online advertising ceases from AY 2026-27 due to a sunset clause in the Finance Act, 2024. This impacts e-commerce transactions significantly.
The ITAT Ahmedabad ruled that CSR donations can still qualify for Section 80G deductions if they meet necessary conditions, countering automatic disqualification assumptions.
The ITAT Mumbai ruled that mere loan confirmations do not substantiate the creditworthiness of creditors, necessitating further verification by assessing officers.
The ITAT Delhi quashed a Section 271D penalty of ₹65 lakh citing a lack of assessment and recorded satisfaction for penalty proceedings, indicating procedural requirements must be met.
Section 194N mandates TDS deduction by banks on cash withdrawals exceeding prescribed limits. Non-filers face higher rates, while certain entities are exempt.
The Madras High Court has ruled that unregistered property transfers cannot substantiate depreciation claims under the Income Tax Act.
The ITAT ruled that income tax assessments based solely on suspicion regarding transactions lack validity unless legal proof of wrongdoing is presented.
The ITAT has held that unpaid GST cannot be disallowed under Section 43B if the liability is not claimed as an expenditure in the profit and loss account.
The ITAT has ruled that payments made under Corporate Social Responsibility (CSR) fulfill the criteria for deductions under Section 80G of the Income Tax Act, provided all conditions are met.