Curated legal news, case breakdowns, and workflow tips for fast-moving practitioners.
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ITAT rules that leasing educational infrastructure with allied services is taxable as business income, not house property, under the Income Tax Act.
ITAT Mumbai upholds deletion of share premium addition under Section 68, holding that genuine investments backed by DCF valuation and banking trail cannot be taxed.
ITAT rules rental income from trailers and exhibition space is business income, not house property. Tribunal deletes tax addition, giving relief to leasing businesses.
ITAT Mumbai holds that inflated jewellery tag prices are a marketing strategy, not proof of tax evasion. Tribunal deletes additions in Begani Jewels vs ACIT, clarifying that only …
The ITAT Mumbai rules that excess repayment made by a Karta to an HUF is a capital receipt and not taxable income. Landmark ruling protects HUFs from arbitrary income tax notices.