Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
FeaturedCalcutta High Court quashed a transfer pricing adjustment order under Section 92CA(3) of the Income Tax Act, holding that failure to grant a personal hearing and record reasoned findings violates principles of natural justice.
Calcutta High Court ruled that additions under Section 68 of the Income Tax Act must be grounded in evidence about the nature and source of credits. Mere non-rebuttal by the assessee is insufficient without incriminating material.
The ITAT ruled that appreciation or revaluation of assets in a prior year cannot be treated as 'unexplained investment' in a subsequent year. Such gains, if not disclosed earlier, still can’t be reaggregated under S. 68 or S. 69.
The Calcutta High Court ruled that additions under Section 68 of the Income Tax Act must be supported by material showing the nature and source of credit entries. Mere suspicion or unexplained additions without context are invalid.
The ITAT ruled that revaluation of assets in prior years cannot be treated as unexplained income in a subsequent assessment year. Tax authorities cannot re-agitate issues already settled or time-barred.
The Calcutta High Court held that additions under Section 68 of the Income Tax Act must be grounded in evidence showing the nature and source of credit, and cannot be made mechanically. The assessment must consider material available during the relevant assessment year.
The ITAT deleted an income tax addition of Rs. 1.66 crore on a commission agent's adat expenses, holding that TDS compliance and documentary support substantiated the claimed expenditure.
Calcutta High Court quashed a transfer pricing assessment order for failure to grant a personal hearing and record adequate reasons, affirming procedural fairness.
ITAT rules that unexplained asset from a past assessment year cannot be taxed again under Section 69 or 69A in a later year. Assessment is time-barred and violates principles of res judicata.
CBDT confirms taxpayers may use TDS deposited in FY 2025-26 for tax credit in TY 2026-27, pending update of correction facility.
CBDT notifies the Income Tax (Sixth Amendment) Rules, 2026, amending Form 161 and Rule 231 to include new compliance requirements for registration of certain financial entities.
CBDT notifies 6th Income Tax Amendment Rules, updating Rule 231 and Form 161 for administrative clarity.