CBDT issues clarification on Circular No. 01/2025 On Application of PPT under India’s DTAAs CBDT has issued Circular No. 01/2025 dated 21.01.2025 as a guidance to provide clarity and certainty on the application of the Principal Purpose Test (PPT) provision under India’s Double Taxation Avoidance Agreements (DTAAs). It …

Levy of penalty u/s 271(1)(b) for each default in not responding to notices issued u/s 142(1) of the Act was not justified – ITAT In a recent judgment, ITAT Pune deleted penalty u/s 271(1)(b) holding that levy of penalty for each default in not responding to the notices …

Refund of advance amount on cancellation of agreement for purchase of property does not partake the character of loan or deposit or any specified sum as provided u/s 269SS – ITAT In a recent judgment, ITAT Hyderabad deleted penalty u/s 271D holding that refund of advance amount on …

Foreign Tax Credit cannot be denied merely because there is a delay in filing Form-67 which is directory and not mandatory. In a recent judgment, the ITAT Hyderabad has held that Foreign Tax Credit cannot be denied merely because there is a delay in filing Form-67 as consistently …

ITAT allows issue of CPC adjustment made in intimation u/s 143(1) to be examined in proceedings u/s 143(3) In a recent judgment, the ITAT Bangalore has allowed issue of CPC adjustment made in intimation u/s 143(1) to be examined in proceedings u/s 143(3) observing that the object for …

Minimum 7 days time to furnish reply to notice u/s 148A(b) was not required in cases covered by search – ITAT In a recent judgment, the ITAT Surat dismissed the jurisdictional challenge to the validity of notice u/s 148 on the ground of less than 7 days time …