Loans repaid in the subsequent assessment years – No addition u/s 68 can be made: ITAT Gauhati
Loans repaid in the subsequent assessment years – No addition u/s 68 can be made: ITAT Gauhati ITAT Gauhati held that “……In our opinion, once the assessee has established that loans were repaid in the subsequent assessment years with cogent evidences then the addition u/s 68 of the Act cannot be made. We have… […]
Section 269SS Not Attracted to One-Time Cash Sale Consideration: ITAT Chandigarh Clarifies the Law
Section 269SS Not Attracted to One-Time Cash Sale Consideration: ITAT Chandigarh Clarifies the Law The rigours of section 269SS of the Income-tax Act, 1961, which prohibits acceptance of certain sums in cash beyond the prescribed limit, have once again come under judicial scrutiny. In a significant and reassuring ruling, the Chandigarh Bench (SMC) of… […]
Tax Refund Delays: Not Always CPC’s Fault, Not Always Yours Either
Tax Refund Delays: Not Always CPC’s Fault, Not Always Yours Either Every year, between August and March, Indian taxpayers participate in a silent national ritual. They open their bank app, stare at the balance, refresh it once more, and then blame everyone except themselves-or sometimes, blame only the system. “Refund abhi tak nahin aaya”… […]
ITC Denial to Bona Fide Purchaser Solely Due to Retrospective Cancellation of Seller’s GST Registration – Supreme Court Issues Notice
ITC Denial to Bona Fide Purchaser Solely Due to Retrospective Cancellation of Seller’s GST Registration – Supreme Court Issues Notice The Hon’ble Supreme Court was pleased to issue notice in SLP(C) No. 31296/2025 (Roshan Sharma v. Dy. Commissioner of Revenue, State Tax & Anr.), arising from Calcutta High Court’s order dated 28.08.2025 in… […]
All orders in ‘E-Proceedings’ must be signed digitally: Manually signed Assessment Order held invalid by ITAT
All orders in ‘E-Proceedings’ must be signed digitally: Manually signed Assessment Order held invalid by ITAT The assessee challenged the validity of the Final Assessment Order, which was signed manually by the Assessing Officer despite being conducted under the ‘E-Proceedings’ system. The Tribunal referred to CBDT Instruction No. 01/2018, which mandates that all orders in… […]
Rs. 5.37 Crore Refund Stuck for 8 Years: HC Reprimands Tax Dept. for Its Callous and Negligent Attitude
Rs. 5.37 Crore Refund Stuck for 8 Years: HC Reprimands Tax Dept. for Its Callous and Negligent Attitude Microsoft Corporation India Pvt. Ltd. vs Deputy Commissioner of Income Tax & Others Case Number:- W.P.(C) 5608/2025 Facts: 1. The assessee has filed a writ petition in the Delhi High Court against the Income Tax Department… […]
CBDT chief urges tax officials to prepare for transition to new Income Tax Act
CBDT chief urges tax officials to prepare for transition to new Income Tax Act 1. Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal has asked the Income Tax Department to be ready and proactive for the transition to the new direct tax law, which is scheduled to be implemented from April 1, calling… […]
Third-Party Chats, No Cash, No Admission: Section 69A Addition based on WhatsApp chats Struck Down
Third-Party Chats, No Cash, No Admission: Section 69A Addition based on WhatsApp chats Struck Down DCIT v. Niru Dhiren Shah (ITA No. 4294/Mum/2025) Facts: 1. Search u/s 132 conducted on the assessee and connected parties. Assessee sold a shop for ₹3.38 crore, which was higher than stamp duty value (₹2.56 crore). 2. During search… […]
Recovery of tax demand from an employee is not permissible if TDS was done by the employer but not deposited with the Government.
Recovery of tax demand from an employee is not permissible if TDS was done by the employer but not deposited with the Government. Hon’ble Delhi High Court in Tarun Sabharwal Through Attorney Holder Rajneesh Raheja v. ITO, Ward 72(2), Delhi, W.P.(C) 17966/2025 (dated 08.12.2025) dealt with the issue of recovery of tax demand from… […]
TDS credit cannot be denied merely due to technical mismatches
TDS credit cannot be denied merely due to technical mismatches – Here is an important Mumbai ITAT ruling for ruling for taxpayers & consultants wherein it has been held that TDS credit cannot be denied merely due to technical mismatches. This Mumbai ITAT decision has reinforced a crucial principle: once tax is deducted and… […]
