Judgments

  • Income Tax

Explanation for cash deposits in bank account accepted as there was no sign of business activity

ITAT accepted explanation for cash deposits in bank account as there were only cash deposits in bank account and no…

5 years ago
  • Income Tax

Cash deposited in bank after kept in hand for two years out of FDR maturity accepted

Cash deposited in bank after kept in hand for two years out of FDR maturity accepted as Revenue could not…

5 years ago
  • Income Tax
  • ITAT

ITAT remanded case for non receipt of notice, says postal services poor in rural areas

ITAT remanded case for non receipt of notice, says postal services are poor in rural areas. Sometimes the postman delivers…

5 years ago
  • Income Tax

AO had no jurisdiction to frame assessment when statutory notices issued at parental house

AO had no jurisdiction to frame assessment when statutory notices issued at parental house and assessee was living at a…

5 years ago
  • Income Tax

Delay condoned as assessee filed a single appeal against two penalty orders, later realized it was not allowed

Delay condoned as assessee filed a single appeal against two penalty orders and later realized that a single appeal against…

5 years ago
  • Income Tax

Depreciation on goodwill and non compete fee allowed following judgments of Supreme/High Court

Depreciation on goodwill and non compete fee allowed by the Tribunal in view of the binding judgment of Hon'ble Supreme…

5 years ago
  • Income Tax

Reopening u/s 148 without forming belief that income has escaped assessment bad in law

Reopening u/s 148 for mere non disclosure of bank account in ITR without forming belief that income has escaped assessment,…

5 years ago
  • Income Tax

Penalty 271A quashed as Rule 6F did not apply and assessee furnished adequate information

Penalty 271A cannot be sustained when assessee was not covered under Rule 6F assessee furnished adequate information to enable AO…

5 years ago
  • Income Tax

Applicability of section 115BBE to surrender made during survey is highly debatable – ITAT

Applicability of section 115BBE to surrender made during survey is highly debatable. ITAT quashed rectification order imposing higher tax rate…

5 years ago
  • Income Tax

Peak credit addition include income only up to the date of peak balance not thereafter – ITAT

Peak credit addition does not include income after peak balance date. ITAT directed addition of further 8% profit after the…

5 years ago