TDS credit to be allowed to Employee even if not deposited by the Employer

The Hon’ble Gujarat High Court in Kartik Vijaysinh Sonavane v. Deputy Commissioner of Income Tax [R/Special Civil Application No. 6193 of 2021 dated November 15, 2021] directed the Income-Tax

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ITAT directed AO to delete the additions made on account of capitalization of royalty expenses as they were revenue in nature

The Hon’ble Income Tax Appellate Tribunal, Delhi (“ITAT”) in the matter of Honda Motorcycle and Scooter India Pvt. Ltd. v. ACIT, Circle: 4 (1) New Delhi [ITA. No. 477/Del/2021 dated November 09, 2021

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Notice for re-assessment quashed by Hon’ble HC, Bombay as the Assessee fully, truly disclosed all material facts

In M/s Ananta Landmark Pvt. Ltd. v. Deputy Commissioner of Income Tax & Ors. [W.P. (C) No. 2814 of 2019 decided on September 14, 2021] Hon’ble Bombay High Court held that for an assessment to be

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Income Tax deduction allowed by Karnataka High Court on loss suffered by assessee on Foreign Rate Fluctuation

The Hon’ble Karnataka High Court in P.R Commissioner of Income Tax v. M/s United Spirits Ltd. [I.T.A. No. 548/2015 c/w I.T.A No. 37/2010 decided on September 2, 2021] answered in favor

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Wrong deduction claimed which resulted in reduction of Tax liability can’t amount to concealment of income

In Pr. Commissioner of Income Tax v. Sonu Realtors Private Limited [INCOME TAX APPEAL NO.956 OF 2017 dated October 11, 2021], Pr. Commissioner of Income Tax (“the Appellant”) filed the appeal being

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Rental income from sub-lease shall be considered as Business Income since same was business of assessee

In Shri Shanthilal Movji Bhai Thakker v. The Income Tax Officer [ITA No. 2267-2270/Chny/2019 decided on November 3, 2021] Income Tax Appellate Tribunal, Chennai (“ITAT”) held that rental income from

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Initiation of Assessment Proceedings can’t be done if no incriminating material seized at time search

The Hon’ble Orissa High Court (“Orissa HC”) in the matter of Smt. Smrutisudha Nayak v. Union of India and Others [W.P. (C) Nos. 10587 OF 2009 dated October 27, 2021], held that assessment proceedings

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Guarantee commission not ‘Levy’ for the purposes of disallowance under Section 40(a)(iib) of the IT Act

In M/s. Krishna Bhagya Jala Nigam Ltd. v. Assistant Commissioner of Income Tax, Bangalore [ITA 3064 /BANG/2018, decided on November 10, 2021], Hon’ble Income Tax Appellate Tribunal, Bangalore (“ITAT”)

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Share Transfer with no consideration chargeable to Income Tax

In Shri Rajeev Ratanlal Tulshyan v. Income Tax Officer [I.T.A. No.5748/Mum/2017 & Cross Objection No. No.118/Mum/2018 AY 2014-2015 dated October 01, 2021], the Income Tax Appellate Tribunal (“ITAT”),

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No addition of amount shown in form 26 AS for taxation If assessee is not the actual beneficiary such amount

In Dr Swati Mahesh Vinchurkar v. Deputy Commissioner of Income-tax, Bangalore [ IT APPEAL No. 43 (SRT) OF 2021 dated June 28, 2021], Dr Swati Mahesh Vinchurkar (“the Appellant”) has filed

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ITAT: Telecom Distributor is exempt from TDS on Commission given directly to Retailers by Service Provider

In Laxmi D. Gupta v. ITO, Mumbai [I.T.A. No. 6619/Mum/2019 Assessment Year: 2013-14 dated October 08, 2021], Laxmi Gupta ("the Appellant") filed an appeal impugning Order passed by Commissioner

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ITAT recommends constitution of larger bench to decide allowability of freebies to medical professionals as a deduction

The coordinate bench of the Hon’ble Income Tax Appellate Tribunal, Mumbai (“the ITAT Mumbai”) in the case of Deputy Commissioner of Income Tax v. Macleods Pharmaceuticals Ltd. [ITA Nos. 5168 & 5169/

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