Category: Income Tax
Penalty u/s 270A quashed as there was no satisfaction in the penalty order on what exactly was under reporting of income and what was misreporting of income by the assessee In a recent judgment, ITAT Raipur deleted penalty under section 270A observing that there was no satisfaction brought …
For registration u/s 12AA if Commissioner’s satisfaction is limited to the objects of the Institution, or also to genuineness of its activities? – Special Leave Petition (admitted by Supreme Court In a recent case Hon’ble Supreme Court has admitted Petition of the Income Tax Department to consider the …
Over 30 approvals u/s 153D granted within minutes amounted to total non-application of mind – Bombay High Court In a recent judgment, Bombay High Court upheld that over 30 approvals u/s 153D granted within minutes amounted to total non-application of mind and the so-called discussions between the official …
When AO invoked provisions of section 37(1) to disallow purchases, provisions of section 69C of the Act are not applicable In a recent judgment, ITAT Delhi has held that when AO did not raise any doubts about the source of such purchases but invoked the provisions of section …
ITAT refuses to accept opening cash as source of cash deposit as assessee was not subject to audit and cash book was just a self-servicing document In a recent judgment, ITAT Rajkot has declined to accept the opening cash as source of cash deposit holding that assessee was …
Mere preparation of income tax notice and forwarding the same for dispatch is not effective issuance of notice until it enters a computer resource outside the control of the AO. In a recent judgment, Hon’ble Supreme Court dismissed the SLP of the Revenue gainst the judgment of Telangana …
Advances received in normal course of business and adjusted against sale bills cannot be added u/s 68 of the Income Tax Act In a recent judgment, ITAT Kolkata has upheld that advances received in the normal course of business cannot be added u/s 68 of the Act when …
Faceless mechanism for income escaping assessment would not exclude the Central charges and International Taxation charges from its application – ITAT In a recent judgment, ITAT Chandigarh quashed notice under section 148 issued by JAO holding that faceless mechanism for income escaping assessment would not exclude the Central …
Ground not adjudicated by first appellate authority or ground not originating from first appellate order cannot be decided in second appeal In a recent judgment, ITAT Panji has held that ground which is not adjudicated by first appellate authority or ground not originating from first appellate order cannot …
High Court directed ITD to consider condonation of delay in filing ITR for four years as the COVID-19 pandemic constituted a force majeure event In a recent judgment, Hon’ble Madhya Pradesh High Court directed Income Tax Department to consider the request of the Petitioner for condonation of delay …
