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First-time experience in filing appeal was a reasonable and bona fide cause for delay – ITAT condoned delay In a recent judgment ITAT Hyderabad condoned the delay in filing appeal observing delay due to assessee’s official deployment during Parliamentary Elections and his first-time experience in filing appeal was …

Mere nondisclosure of place of destination in the documents cannot be a ground for seizure u/s 129 of GST Act. In a recent judgment, Allahabad High Court has held that merely non-disclosure of place of destination in the accompanying documents cannot be a ground for seizure of goods …

Imposition of exorbitant interest in contemporary commercial practices not against the fundamental policy of Indian Law, or against the morality or justice In a recent judgment, the Hon’ble Supreme Court has held that it cannot be said that the imposition of an exorbitant interest in the background of …

Assessees was  not required to prove the “source of the source‟ of funds received as unsecured loans Prior to the amendment of Finance Act, 2022 In a recent judgment, Hon’ble Delhi High Court held that since the case related to prior to the amendment of Finance Act, 2022 …

The contention that during the pendency of case before settlement commission, the assessee must give up his right to contest the assessment order on merits is misconceived and must be rejected – Supreme Court In a recent judgment, the Hon’ble Supreme Court rejected the stand of the Revenue …

Entire amount of undisclosed money cannot be treated as income and only estimated profit embedded in these transactions may only be taxed.  In a recent judgment, Rajkot ITAT held that entire amount of undisclosed money cannot be treated as income and only estimated profit embedded in these transactions …

Penalty confirmed as loading point of the goods loaded in vehicle was different as declared in E- Way Bill which is confirmed by driver and GPS location In a recent judgment, Hon’ble High Court of Jharkhand confirmed penalty as loading point of the goods loaded in vehicle was …

Notice u/s 143(2) send by email fifty seconds before signing by the Assessing Officer was not a legal notice – ITAT In a recent judgment, ITAT Jaipur quashed the assessment holding that notice under section 143(2) send by email fifty seconds before signing of notice by the Assessing …

Once investment amount reflected as payable and receivable in the books of accounts of both parties, no addition can be made towards unexplained money u/s 69A of the Act. In a recent judgment, ITAT Hyderabad deleted addition u/s 69A observing that once the investment amount is reflected in …

Recording consolidated satisfaction note for various assessment years is fatal to the very assumption of jurisdiction under section 153C – ITAT In a recent judgment, ITAT Delhi has held that recording consolidated satisfaction note for various assessment years instead of recording independent and individual satisfaction note for each …