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Latest judgements uploaded (See all)
Dy. CIT v. Gopani Iron and Power (India) Pvt. Ltd.
NAGPUR TRIBUNAL : S. 80IA : Industrial undertakings-Enterprises engaged in infrastructure development-Captive power plant-Specified domestic transaction – Transfer Pricing -ALP of inter-unit transfer of electricity -For benchmarking transfer of power from captive power plant to assessee’s own manufacturing units, the proper CUP is the tariff at which State Electricity Distribution Company supplies power to industrial consumers and not… Read More ...
DCIT (Central ) v. Sunetra Ajit Pawar (Mrs.) (Legal Heir of Late Shri Ajit Anantrao Pawar)
Mumbai Tribunal : S. 153C : Assessment of income of other person-Addition on basis of loose papers / diaries seized from third party-No reference to assessee by name-Identification only on basis of code “DD”, mobile data, WhatsApp chats and Truecaller-Not permissible-No incriminating material “belonging to” or “relating to” assesse- Jurisdiction u/s. 153C not valid-Addition of ₹32.14 crore deleted.… Read More ...
Mahaveer Sukhanraj Kawar v. ITO
Mumbai Tribunal : S. 68 : Cash credits-Long-term capital gains-Penny stock-Addition based solely on Investigation Wing report without independent enquiry-Documentary evidences not disproved-Transactions through demat and stock exchange-Addition deleted-Suspicion cannot replace evidence. [S. 10(38), 45] The assessee earned long-term capital gains on sale of shares of Lifeline Drugs and Pharma Ltd. and claimed exemption under section 10(38). The… Read More ...
Latest articles published (See all)
Direct Taxes – Amendments to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Act, 2015 (Black Money Act) Disclosure Scheme for Small Taxpayers & Relaxed Prosecution
Direct Taxes – Amendments to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Act, 2015 (Black Money Act) Disclosure Scheme for Small Taxpayers & Relaxed Prosecution
By Aditya Ajgaonkar & Saloni Chordia, Advocates : Amendments to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Act, 2015 (Black Money Act) Disclosure Scheme for Small Taxpayers & Relaxed Prosecution Read More ...
Direct Taxes – Penalty on misreporting/underreporting transactions of Crypto Asset
By Rupal Shrimal, Advocate: “Innovation is the ability to see change as an opportunity, not a threat.” – Steve Jobs, Founder of Apple. Read More ...
Direct Taxes – Repeal & Saving clauses
Direct Taxes – Repeal & Saving clauses
By Paras S. Savla & Rajnandini Shukla, Advocates : Clause 107 of Finance Bill 2026 – Amendment to Section 536 of the Income-tax Act, 2025: Repeal of the 1961 Act - Effect of Deduction / Exempt Income and MAT Credit Read More ...