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Income Tax
Whether the delay of 304 days in filing the appeal deserved to be condoned in absence of any explanation or affidavit ?
In the complex world of appellate tax litigation, time isn’t just a procedural formality it’s often the deciding factor between justice and finality.
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, recently delivered a detailed...
Income Tax
The Aishwarya Rai Bachchan ₹4 Crore Tax Case – Expert Analysis
In 2025, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench, delivered a significant judgment in favor of Ms. Aishwarya Rai Bachchan, setting aside an additional disallowance of approximately ₹4 crore made by the Assessing...
Income Tax
Share sale proceeds not unexplained Karnataka HC upholds ITAT Order deleting Addition of Rs. 7cr. u/s 68.
Facts of the case
The assessee filed its return of income, declaring a STCL on sale of shares held in X Ltd. to three entities.
The AO having doubted the genuineness of the transactions, held that...
Income Tax
Bought property cheaper than stamp value? That’s not ‘underreporting’.
Facts of the Case
The assessee, as b co-owner, purchased two properties at consideration amounts lower than the SDV of those properties.
The AO invoked section 56(2)(x) treating difference between the SDV and the purchase price...
Income Tax
ITAT Judgement: You can’t call the purchases fake when you’ve already cashed in on the sales.
Facts of the case
The assessee was a proprietor engaged in wholesale trading. During scrutiny, AO noticed sundry creditors of significant amount.
Notices u/s 133(6) were issued to major creditors, they were either returned unserved or...
Income Tax
Vodafone Idea Sale & Leaseback: Tax Planning or Colourable Device?
Issue Involved
Whether sale and lease back transaction are permissible as a part of tax planning?
Facts of the Case
The assessee had claimed lease rent as revenue expenditure. The AO disallowed the same as being a...
Income Tax
Reassessments Need Solid Reasons and Not Just Assumptions
One of the most contested issues in tax law is the power of the Assessing Officer (AO) to reopen assessments. Sections 147 and 148 of the Income-tax Act grant this power, but it comes...
Income Tax
CAAS Writ Petition: Gujarat HC Questions CBDT on Due Date Extensions and Compliance Gaps
On 26th September 2025, the Hon’ble Gujarat High Court heard the writ petition filed by the Chartered Accountants Association, Surat (CAAS) in the matter of CAAS v. Union of India. Listed at Serial No....
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