Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Shenzhen SDG Information Co. Ltd. v. CIT (IT) (2025) 125 ITR 523 / 175 taxmann.com 328 (Delhi)(Trib.)

S. 263: Commissioner- Revision of orders prejudicial to revenue-Non-resident-Offshore supply contract-Offshore design, engineering and commissioning performed outside India-Receipts not taxable in India-Revision under section 263 not justified.[S. 44BB]

Growmore Research and Assets Management Ltd. v. Dy. CIT (2025) 125 ITR 44 (Mum.)(Trib.)

S. 234B: Interest-Advance tax- Tax deductible at source-Interest to be recomputed after allowing TDS credit.[S. 199]

Exquisite Jewellery v. ITO (2025) 125 ITR 117 / 177 taxmann.com 4 (Mum.)(Trib.)

S. 234B: Interest- Advance tax- Transfer Pricing-Retrospective amendment-Advance tax-Interest under section 234B not leviable on transfer pricing adjustment arising from subsequent retrospective amendment. [S.92B]

Vanguard Emerging Markets Stock Index Fund, A Series of VISPLC v. Asst. CIT (2025) 125 ITR 128 / 172 taxmann.com 515 (Mum.)(Trib.)

S. 154: Rectification of mistake-Mistake apparent from the record- Error in computation sheet-Assessing Officer directed to rectify.

Rawalpindi Co-operative Cinema Society Ltd. v. Dy. CIT (2025) 125 ITR 185 (Chd.)(Trib.)

S. 153C: Assessment- Income of any other person- Search-Absence of satisfaction note and incriminating material-Assessment invalid.[S. 132]

Asst. CIT v. Unique Realities Builders and Developers (2025) 125 ITR 472 (Nagpur)(Trib.)

S. 153C : Assessment- Income of any other person- Search- Incriminating documents specifically identifying assessee-Addition upheld- Cash payments evidenced by seized documents-Failure to rebut evidence-Addition sustained- Satisfaction under amended provision-Proceedings valid.[S 69A, 69C,. 132, 133A, 153A]

ITO v. Gas and Power Investment Co. Ltd. (2025) 125 ITR 489 / 174 taxmann.com 341 (Mum.)(Trib.)

S. 147: Reassessment- Income from other sources-Interest reflected in Form 26AS-No actual receipt-Addition deleted- Reassessment was invalid.[S. 56, 148, Form No. 26AS]

Adworld Communications (P.) Ltd. v. Dy. CIT (2025) 125 ITR 160 / 177 taxmann.com 1 (Jaipur)(Trib.)

S. 144: Best judgment assessment- Rejection of books-Estimation of income-Addition restricted on basis of earlier accepted profit rate. [S. 44AB, 145(3)]

Bindumalyam Panduranga Allanharinarayan v. ITO (2025) 125 ITR 507 / 175 taxmann.com 388 (Bang.)(Trib.)

S.143(3): Assessment- Limited scrutiny-Enquiry into assets and liabilities arising from information furnished during assessment-Within scope of scrutiny.[S.2(13), 22, 23, 28(i), 44AD]

Puneet Singhvi v. ITO (2025) 125 ITR 378 (Jaipur)(Trib.)

S 143(3): Assessment-Ex parte order-Principles of natural justice-One more opportunity to assessee-Matter remanded.[S. 250, 254(1)]