Month: August 2025

When amalgamation is done in larger interest of business, depreciation on goodwill generated in the course of amalgamation allowable – ITAT In a recent judgment, ITAT Rajkot has held that when the amalgamation was done in the larger interest of business, depreciation should be allowable on the goodwill …

ITAT upheld deletion of disallowance u/s 40A(3) where the nature of business remained the same and the patterns of cash withdrawals were also similar all through the years. In a recent judgment, ITAT Guwahati affirms deletion of disallowance u/s 40A(3) in respect of cash purchase where the nature …

High Court allowed deduction u/s 80IA allowed on interest income from fixed deposits and on interest on TDS refund In a recent judgment, Hon’ble Bombay High Court directed the Assessing Officer to grant deduction under Section 80IA of the Income Tax Act, 1961 (the Act) to the assessee …

Seizure of jewellery held valid in view of assessee’s failure to substantiate the legitimacy of jewellery, discrepancies in documentation and weight In a recent judgment, Hon’ble Calcutta High Court held that the seizure of the jewellery was valid in view of the assessee’s failure to substantiate the legitimacy …

Assessee eligible for deductions u/s 80G for donations out of CRS funds, if condition of sections 80G are satisfied – ITAT In a recent judgment, ITAT Mumbai has held that assessee would be eligible for claim of deductions u/s 80G for eligible donations out of the CRS funds, …

CPC was not authorised to disallow deduction u/s 80P u/s 143(1)(a) for violation of Section 80AC of the Act – ITAT In A recent judgment, ITAT Jodhpur held that CPC while processing the return u/s 143(1)(a) of the Act was not authorised to disallow the deduction u/s 80P …

Conversion of grapes into raisins using traditional ways held as agricultural activity In a recent judgment, ITAT Bangalore has held that conversion of grapes into raisins by traditional ways is an agricultural activity. ABCAUS Case Law Citation:4711 (2025) (08) abcaus.in ITAT In the instant case, the assessee had …

Allowance of an incorrect claim in a later year cannot be used to justify the non-disallowance in an earlier year – ITAT In a recent judgment ITAT Ahmedabad has held that the allowance of an incorrect claim in a later year cannot be used to justify the non-disallowance …

Use of words, “either and or” in recording reasons to believe shows Ao was unsure of the facts and initiated proceedings in mechanical manner – ITAT In a recent judgment, ITAT Ahmedabad held that use of words, “either and or” in reasons to believe reveals that the Assessing …

The Income Tax Act 2025 received the assent of the President on the 21st August, 2025 and has been notified in the official Gazette The Income Tax Act 2025 contains 536 sections, organized into 23 chapters, with 16 schedules. It was stated by the Finance Minister that the …