Judgments

  • Income Tax

Allowability of Pension paid to retiring partner in CA Firm. SC refuses to entertain SLP of ITD on reopening

Allowability of pension payment to retiring partner in CA Firm. SC refuses to entertain SLP of the ITD against High…

5 years ago
  • Income Tax

Rectification by ITAT was barred by principle of finality & doctrine of merger SC dismissed SLP

Rectification by ITAT was barred by principle of finality & doctrine of merger. SC dismisses SLP of assessee but set…

5 years ago
  • Sales Tax

SC uphelds validity of rule 6(4)(m)(i) of KST Rules read with Explanation III to Rule 6(4)

SC uphelds validity of rule 6(4)(m)(i) of Karnataka Sales Tax Rules read with Explanation III to Rule 6(4) ABCAUS Case…

5 years ago
  • Income Tax

Letter of Allotment can not be considered as agreement to sale. Addition u/s 56(2)(vii)(b) upheld

Letter of Allotment can not be considered as agreement to sale by any stretch of imagination. ITAT upheld addition u/s…

5 years ago
  • Income Tax

Addition made for not explaining frequent cash withdrawal and deposits in bank deleted

Addition made for not explaining frequent cash withdrawal and deposits in bank deleted as addition solely based upon suspicion not…

5 years ago
  • Income Tax

Failure to comply u/s 194C(7) does not resurrect liability u/s 194C(6)

Failure to comply u/s 194C(7) does not resurrect liability u/s 194C(6),  Section 194C(7) and section 194C(6) are independent to each…

5 years ago
  • Income Tax

Cash Payments itself not undisclosed income unless corresponding asset found in search

Cash Payments itself not undisclosed income of assessee in the absence of corresponding asset found at the time of search.…

5 years ago
  • Income Tax

Addition made only on the basis of statement which was later retracted unjustified – ITAT

Addition made only on the basis of statement which stood retracted on the next day itself was unjustified. ITAT deleted…

5 years ago
  • Income Tax

Reassessment order quashed for not supplying reasons recorded for re-opening despite written request

Reassessment order quashed for not supplying reasons recorded for re-opening the assessment u/s 148 in spite of assessee’s written request…

5 years ago
  • Income Tax

ITAT warns awarding cost for not following SC guidelines in GKN Driveshafts

ITAT warns of awarding cost for AO not following guidelines of Supreme Court in GKN Driveshaft  where assessee objects to…

5 years ago