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Delhi High Court: Pr. Commissioner of Income Tax – 1 Vs M/s Agroha Fincap Ltd. ITA No. 60/2024 | Judgment dated: 23 December 2025 Core Issue: Whether the appeal filed by the Revenue before the High Court was maintainable despite low tax effect, in light of the CBDT monetary-limit circulars, and whether the case fell … Read more

  Allowance of claim of interest expenses – assessee had claimed as business expenses and alternatively, as expenses allowable under the head “Income from House Property” u/s 24(b) – asset was put to use ITAT JAIPUR: Rup Kumar Ramchandani Prop. M/s SHE, Ajmer Versus Income Tax Officer, Ward-1 (2) Ajmer,No.- ITA No. 1258/JPR/2025 Dated: December … Read more

Whether penalty under section 271A of the Income-tax Act, 1961 can be levied where the assessee has maintained books of account which were audited under section 44AB, but the Assessing Officer rejected the books under section 145(3) due to alleged deficiencies and estimated income. Case Citation – ITAT Kolkata Anita Basak v. ACIT, Central Circle-1(1), … Read more

Levy of Penalty under Section 271AAB(1A) Scope of “Undisclosed Income” – Absence of Incriminating Material Case:  Shri Srinivas Chowdary Vallabhaneni Forum:  ITAT Hyderabad Appeal No.:  ITA No. 1461/Hyd/2025 Date of Order:  19 December 2025 Core Issue: Whether penalty under section 271AAB(1A) of the Income-tax Act, 1961 can be levied on income offered during search proceedings, … Read more

  Whether commission paid by an export-oriented assessee to non-resident agents, for services rendered outside India, can be disallowed under section 37(1) of the Income-tax Act, 1961 on the ground of alleged lack of genuineness and non-deduction of tax at source, despite the commission being an essential and integral part of the export business and … Read more

Nature of Expenditure – Non-Compete Fee Capital or Revenue | Allowability of Depreciation under Section 32(1)(ii) Sharp Business System (India) Pvt. Ltd. v. Commissioner of Income Tax Supreme Court | Civil Appeal No. 4072 of 2014 & batch Judgment dated: 19 December 2025 I. Issues for Consideration (Para 5) 1.Whether non-compete fee paid by an … Read more

  Whether, while processing the return of income under section 143(1) of the Income-tax Act, 1961, the Centralised Processing Centre was justified in restricting the credit of tax deducted at source (TDS) claimed by the assessee, despite the TDS being duly reflected in Form 26AS, and whether such restriction is permissible in light of section … Read more

  ACIT, Circle-1 v. Taparia Tools Ltd., Nashik (and Vice-Versa) ITAT Pune | ITA No. 1337/PUN/2025 & CO No. 30/PUN/2025 Date of Order: 10 December 2025 Core Issue:-Whether purchases amounting to ₹87.64 crore made by the assessee from M/s Sharp King Trading Pvt. Ltd. (SKTPL) could be treated as entirely bogus and disallowed under section … Read more

Core Issue:-The principal controversy before the Delhi Bench of the Income Tax Appellate Tribunal was whether investments made in foreign shares in the names of the assessee’s minor daughters could be treated as unexplained investments under section 69 of the Income-tax Act, 1961 merely on the allegation that no separate documentary evidence of source was … Read more