Month: April 2026

PCIT cannot invoke the revisionary jurisdiction u/s 263 of the Income Tax Act upon a proposal from the Assessing Officer – ITAT In a recent judgment, ITAT Kolkata has held that PCIT cannot invoke the revisionary jurisdiction u/s 263 of the Income Tax Act, 1961 upon a proposal …

If AO intends to disturb income returned by assessee, it is mandatory on his part to issue notice under section 143(2) of the Income Tax Act – ITAT In a recent judgment, ITAT Lucknow has held that if the Assessing Officer intends to disturb the income returned by …

Source of cash deposit being sales proceeds of household items upon sale of flat was held plausible and addition u/s 69A deleted by ITAT In a recent judgment, ITAT Chennai has held that source of cash deposit being sales proceeds of household items upon sale of flat was …

TDS deductibility being debatable issue and not an apparent incorrect claim, CPC was not justified in making the disallowance In a recent judgment, ITAT Jaipur has held that whether TDS was deductible being a debatable issue not an apparent incorrect claim, therefore, CPC not justified in making the …

No addition when cash deposited in bank was out of cash in hand available with the assessee and AO could not show that cash in hand was spent otherwise In a recent judgment, Hon’ble Allahabad High Court dismissed Revenue’s appeal confirming ITAT order that there can be no …

Use of word “can” in arbitration clause cannot be said to be a binding arbitration agreement –Supreme Court In a recent judgment, Hon’ble Supreme Court has held that use of word “can” in arbitration clause in the contract indicates merely the future possibility of referring disputes to arbitration …

Repayments of loans taken for asset generation can’t be deducted  to arrive at earning capacity for determining maintenance to wife – Supreme Court In a recent judgment, Hon’ble Supreme Court has held that repayments of loans taken for asset generation can not be deducted to arrive at real …

Seat of arbitration is governed by the agreement of the parties and not by the place of hearing or the place where the award is signed – Supreme Court In a recent judgment, Hon’ble Supreme Court has explained the distinction between the seat and venue of the arbitration …

ITAT quashed order u/s 263 enhancing disallowance observing in appellate proceedings, CIT(A) has power of enhancements of income assessed, if desired. In a recent judgment, ITAT Delhi has quashed order u/s 263 observing that PCIT had ignored the fact that assessee had filed an appeal against the addition …

Section under which penalty should be initiated cannot be subject matter of revisionary jurisdiction under section 263 of Income Tax Act – ITAT In a recent judgment, ITAT Surat has held that the section under which AO should initiate penalty cannot be determined under revisionary jurisdiction under section …