Category: Judgments

Refusing to condone delay can result in a meritorious matter thrown out at very threshold against case being decided on merits after hearing the parties  In a recent judgment, ITAT Mumbai has condoned the delay in filing appeal observing that Hon’ble Supreme Court had held that refusing to …

When prior period expenses are not admissible as deduction, following the same principle the prior period income also cannot be considered as income In a recent judgment, ITAT Ahmedabad accepted the contention that if the prior period expenses are not admissible as deduction, following the same principle the …

Supreme Court condoned delay of 972 days in filing appeal due to restructuring in Income Tax Department In a recent judgment, Hon’ble Supreme Court has quashed order of the Calcutta High Court dismissing the application of Income Tax Department for condonation of delay of 972 days in filing …

Addition can not be made relying on the valuation report of property when the stamp duty valuation is also available on record – ITAT  In a recent judgment, ITAT Agra has held that addition can not be made for inadequate sale consideration of property sold merely relying on …

Wrong claim of deduction u/s 54F/54B was not a case of concealment of particulars of income or furnishing inaccurate particulars In a recent judgment, ITAT Pune has held that making a wrong claim of deduction u/s. 54F/54B was not a case of concealment of particulars of income or …

When foundation of reopening does not survive, no addition can be made in respect of other issues – ITAT In a recent judgment, ITAT Delhi has held that when the very foundation of reopening does not survive, no addition can be made in respect of other issues based …

It is well settled that if any receipt cannot be subjected to tax being exempt under law, negligence of any tax payer would not make it taxable. In a recent judgment, ITAT Varanasi has held that it is well settled that if any receipt cannot be subjected to …

Since UPGST Authorities unable to inform when notice sent by GSTN Portal may have been retrieved or downloaded, no inference may be drawn as to the actual date and time of such service.  In a recent judgment, Hon’ble Allahabad High Court has held that to the extent there …

High Court declines plea of assessee that Income Tax Department wrongly read amount of cash deposit of Rs. 250000 Cr (credit) as Rs. 2.50 crores. In a recent judgment, Hon’ble Allahabad High Court declined to entertain plea of the assessee that Income Tax Department wrongly read amount of …

Discontinuance of business of partnership firm will not result in vesting ownership of firm’s property with individual partners for capital gain taxation In a recent judgment, ITAT Visakhapatnam has held that discontinuance of the business of partnership firm will not result in vesting ownership of firm’s property with …