Category: Income Tax

ITAT set aside addition and remands issue of difference of income with Form 26AS due to Percentage Completion Method followed by the assessee. In a recent judgment, ITAT Ahmedabad has set aside the addition and remanded issue of difference of income declared and as appearing in Form 26AS …

AO was clearly arbitrary so as to reopen assessment against the assessee on a wrong finding of fact and conclusion thereof – ITAT In a recent judgment ITAT Delhi has held that AO was clearly arbitrary so as to reopen assessment against the assessee on a wrong finding …

CBDT extends due date for filing audit reports for AY 2025-26 to 10.11.2025 and due date for furnishing ITRs covered by audit to 10.12.2025 Today, the Hon’ble Punjab and Haryana High Court in the course of hearing of Petition filed by Chandigarh Tax Bar Association scolded and rebuked …

Onus to prove bad financial condition is on assessee in prosecution u/s 276B for delay in deposit of TDS  In a recent judgment, the Delhi High Court has held that onus to prove bad financial condition is on the assessee in prosecution proceedings under section 276B for delay …

ITAT upheld disallowance of security guard expenses as deduction from capital gain arising from sale of plot In a recent judgment, the ITAT Jaipur has held that security guard expenses to protect the Plot from trespassing by miscreants claimed by the assessee as deduction towards capital gain was …

Penalty u/s 270A @ 200% upheld for claiming fake deductions under Chapter VIA In a recent judgment, ITAT Pune has upheld penalty u/s 270A @ 200% for levied for claiming fake deductions under Chapter VIA which were later withdrawn on notice. ABCAUS Case Law Citation:4813 (2025) (10) abcaus.in …

CBDT has issued Notification No. 155/2025 dated 27.10.2025 authorising Commissioner of Income Tax, Centralized Processing Centre, Bengaluru  to pass rectification order u/s 154 of the Income Tax Act, 1961 (the Act) in all the cases where the orders have been passed through the interface between Assessing Officer and …

Merely because the decision of the High Court followed by Ao was sub-judice before the Supreme Court it would not make the assessment order erroneous. In a recent case, the ITAT Mumbai has held that merely because the decision of the High Court was sub-judice before the Hon’ble …

Deduction of interest on borrowings invested in capital of firm allowed against interest on capital under the head profit and gains from business or professions. In a recent judgment, ITAT Mumbai has allowed deduction of interest on borrowings invested in capital of the firm from which the assessee …

Even if search held invalid, information or material gathered may be relied upon by revenue only in a proceeding which is not illegal In a recent judgment, Hon’ble Supreme Court has declined to interfere with the judgment of High Court holding that even if the search is held …