ITAT Bangalore rules that Section 54 exemption can be claimed on multiple new residential houses when multiple residential houses are sold. Read the key takeaways from Pavan Kumar Agarwal v. DCIT.
Can the Reverse Indexation Method be used to determine the fair market value of a capital asset under the Income-tax Act? This article analyses the statutory provisions and judicial precedents that have both accepted and rejected reverse indexation as a valuation method for computing capital gains.
ITAT Visakhapatnam held that interest paid on borrowed funds cannot be fully deducted under Section 57(iii) where loans are advanced to a related company at a lower interest rate.
Authority for Advance Rulings (Income Tax) v. Tiger Global International II Holdings The Supreme Court’s judgment in The Authority for Advance Rulings (Income Tax) v. Tiger Global is a landmark…
CIT v. Ernst & Young U.S. LLP If your organisation seconds employees to India or provides cross-border consulting services to Indian clients, this is a judgment you shouldn't overlook. In…
In a significant ruling, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) in Smt. Geetanjali Bhayana v. DCIT (ITA Nos. 2227, 2228 & 2252/Del/2025) has quashed assessments framed under Section 153C of the Income-tax Act, 1961, holding that such proceedings are invalid when initiated after 01.04.2021, even if the original search on third party took place prior to that date.
Delhi High Court judgment on validity of Section 148 Income Tax notices issued March 31, 2021 but despatched after April 1, 2021. Court held mere generation doesn't constitute issuance - despatch required for validity under amended limitation provisions.
Supreme Court resolves Section 148 notice controversy affecting 90,000 reassessment cases. Landmark judgment on Finance Act 2021 amendments, Section 148A procedure, and Article 142 powers in tax law.
SC ruling on income tax reassessment notices validity post-April 2021. Clarifies TOLA application, Finance Act 2021 changes & Ashish Agarwal scope.
ITAT Delhi deletes Section 68 additions in Kuber Group cases. Landmark precedent on search assessments and independent inquiry obligations.