Tag Archives: IN THE ITAT AHMEDABAD BENCH

Exemption under Section 54F is allowable on both purchase and post-purchase reconstruction expenses incurred to make a house habitable.

By | September 2, 2026
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Exemption under Section 54F is allowable on both purchase and post-purchase reconstruction expenses incurred to make a house habitable. Issue Whether capital gains exemption under Section 54F of the Income-tax Act, 1961 (corresponding to Section 86 of the Income-tax Act, 2025) extends to post-purchase construction, renovation, and demolition expenses incurred to make a residential house… Read More »

SBI Not Assessee in Default Under Section 201 for Non-Deduction of TDS on Overseas LTC Reimbursements Governed by High Court Stay

By | August 21, 2026
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SBI Not Assessee in Default Under Section 201 for Non-Deduction of TDS on Overseas LTC Reimbursements Governed by High Court Stay SBI Not Assessee in Default Under Section 201 for Non-Deduction of TDS on Overseas LTC Reimbursements Governed by High Court Stay Issue Whether an employer bank can be treated as an assessee in default… Read More »

ITAT Decides Key Tax Issues On Deductions, Disallowances, Capital Gains, And MAT For AY 2016-17

By | August 20, 2026
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ITAT Decides Key Tax Issues On Deductions, Disallowances, Capital Gains, And MAT For AY 2016-17 Issue Deduction u/s 80-IB/80-IE: Whether interest income from staff advances/deposits and trade receivables is eligible for deduction. Section 14A Disallowance: Whether interest and administrative expense disallowances apply when own interest-free funds are sufficient, and whether Section 14A adjustments apply to… Read More »

SBI Branches Complying with High Court Stay Orders Cannot Be Assessed in Default Under Section 201

By | August 14, 2026
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SBI Branches Complying with High Court Stay Orders Cannot Be Assessed in Default Under Section 201 SBI Branches Complying with High Court Stay Orders Cannot Be Assessed in Default Under Section 201 Issue Whether SBI branches can be treated as “assessees in default” under Section 201(1) and charged interest under Section 201(1A) for failing to… Read More »

Processing Return Under Section 143(1) Post Section 143(2) Notice Is Valid and ESOP Cross-Charge Expenses Are Allowable Business Deductions

By | August 13, 2026
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Processing Return Under Section 143(1) Post Section 143(2) Notice Is Valid and ESOP Cross-Charge Expenses Are Allowable Business Deductions Processing Return Under Section 143(1) Post Section 143(2) Notice Is Valid and ESOP Cross-Charge Expenses Are Allowable Business Deductions Issue Validity of Section 143(1) Processing Post Section 143(2) Notice & Doctrine of Merger: Whether processing a… Read More »

Assessments Initiated Under Section 147 Based on Material Seized During Third-Party Search Are Void for Lack of Jurisdiction

By | August 12, 2026
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Assessments Initiated Under Section 147 Based on Material Seized During Third-Party Search Are Void for Lack of Jurisdiction Issue Whether an assessment reopened under Section 147 read with Section 148 on the basis of documents seized during a third-party search under Section 132 is valid in law, or whether the Assessing Officer is mandatorily required… Read More »

Inadvertent Filing of Form 10-IF Under Section 115BAD Allows Recomputation of Taxable Income Under Old Regime

By | August 11, 2026
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Inadvertent Filing of Form 10-IF Under Section 115BAD Allows Recomputation of Taxable Income Under Old Regime Inadvertent Filing of Form 10-IF Under Section 115BAD Allows Recomputation of Taxable Income Under Old Regime Issue Whether a co-operative society that mistakenly exercised the option under Section 115BAD by filing Form 10-IF is entitled to have its taxable… Read More »

Section 263 revision setting aside assessment solely to direct Section 270A penalty initiation is legally unsustainable.

By | August 10, 2026
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Section 263 revision setting aside assessment solely to direct Section 270A penalty initiation is legally unsustainable. Issue Whether the PCIT can invoke Section 263 of the Income-tax Act, 1961 / Section 377 of the Income-tax Act, 2025 to set aside an assessment order solely for directing the Assessing Officer to initiate discretionary penalty proceedings under… Read More »

Disallowance of unsubstantiated marketing expenses is restricted to Rs. 5 lakhs, and Section 270A penalty is deleted.

By | August 10, 2026
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Disallowance of unsubstantiated marketing expenses is restricted to Rs. 5 lakhs, and Section 270A penalty is deleted. Issue Whether the complete disallowance of marketing expenses supported only by self-made vouchers is justified under Section 37(1) of the Income-tax Act, 1961 / Section 34 of the Income-tax Act, 2025, when the expenditure is reasonable relative to… Read More »

Section 80GGC Deduction Disallowed as Donation to Political Party Was Fake Accommodation Entry

By | August 6, 2026
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Section 80GGC Deduction Disallowed as Donation to Political Party Was Fake Accommodation Entry Issue Whether a claim for deduction under section 80GGC for a donation made to a registered unrecognized political party can be disallowed under section 148 reassessment when investigation material demonstrates that the contribution was a non-genuine accommodation entry. Facts The assessee claimed… Read More »