Category: Judgments
ITAT partly confirms addition of site expenses as unexplained expenditure for being not accounted for in the books of accounts in the expense ledger In a recent judgment, the ITAT has confirmed the addition of unexplained expenditure u/s 69C towards site expenses not accounted for in the books …
Special Court presided by a Sessions Judge or an Additional Sessions Judge will have jurisdiction to try the complaint under the IBC 2016 In a recent judgment, the Hon’ble Supreme Court has held that Special Court presided by a Sessions Judge or an Additional Sessions Judge will have …
Revenue not to take benefit of mistake committed by assessee. Gift wrongly executed through sale deed can not be taxed as capital gain In a recent judgment, the Hon’ble ITAT has held that revenue should not take the benefit of the mistake committed by the assessee. Gift to …
High Court grants bail to Income Tax Officer accused of demanding bribe of Rs. 25000/- In a recent judgment, the Hon’ble Allahabad High Court has granted bail to Income Tax Officer accused of demanding bribe of Rs. 25000/- ABCAUS Case Law Citation:ABCAUS 3965 (2024) (04) HC In the …
Cash deposited in bank account during demonetisation period can not be taxed on technical ground when it was fully exempt u/s 10(26), assessee being resident of Arunachal Pradesh In a recent judgment, ITAT has quashed the addition made on technical ground for cash deposited in bank during the …
ITAT deleted addition made on the presumption that there cannot be loss in restaurant business. In a recent judgment, ITAT deleted addition made on the presumption that there cannot be loss in restaurant business ABCAUS Case Law Citation:ABCAUS 3963 (2024) (04) ITAT In the instant case, the assessee …
ITAT upheld taxing rent of plot of land as income from other sources in the absence of proof of any structure thereon In a recent judgment, ITAT upheld taxing of rent of plot of land as income from other sources as assessee could not prove that there existed …
Notice u/s 148 quashed as time period to issue notice u/s 143(2) for conducting assessment u/s 143(3) had not expired. In a recent judgment, Hon’ble Bangalore ITAT has quashed notice u/s 148 as the time period to issue notice u/s 143(2) for conducting assessment u/s 143(3) had not …
An invalid or illegal assessment order cannot be revised under the provision of section 263 In a recent judgment, Hon’ble ITAT has held that an assessment order which is not valid/maintainable under the provisions of the Act, cannot be revised by the CIT/PCIT under the provision of section …
CIT can not assume revisionary powers u/s 263 for issues not forming part of limited scrutiny assessment. In a recent judgment, the ITAT has held that CIT can not assume revisionary powers u/s 263 for issues not forming part of limited scrutiny assessment. ABCAUS Case Law Citation:ABCAUS 3959 …