Judgments

  • Income Tax

Revision u/s 263 upheld as cash deposited in bank of investors of share application money

Revision order u/s 263 upheld as substantial amount of cash was deposited in the bank accounts of all the investors…

1 month ago
  • Income Tax

No additions u/s 68 for unexplained cash credits, unless all three limbs proved/established – ITAT

To make additions u/s 68 for unexplained cash credits, all three limbs must be proved/established In a recent judgment, ITAT…

1 month ago
  • Income Tax

Kachha Arthia not entitled to credit for TDS wrongly deducted against his PAN

Kachha Arthia not entitled to credit for TDS wrongly deducted against his PAN In a recent judgment, ITAT has held…

1 month ago
  • GST

HC grants bail as arrest order only stated assessee was master mind of fake GST ITC racket

High Court grants bail as order of arrest only stated assessee as master mind of the fake GST ITC racket…

1 month ago
  • Income Tax

Disallowance u/s 40A(3) for bearer cheque Payments. CBDT 1977 Circular not applicable

Disallowance u/s 40A(3) for bearer cheque Payments. CBDT 1977 Circular relied upon by assessee does not exits with amendment to…

1 month ago
  • Income Tax

ITAT remands assessment order passed ex-parte as assessee was illiterate housewife and widow

The ITAT remands the assessment order passed ex-parte as the assessee was illiterate housewife and widow and did what husband…

1 month ago
  • Income Tax

No automatic release of seized assets u/s 132B If no order is passed within 120 days – High Court

Section 132B of Income Tax Act 1961 does not stipulate that if no order is passed within 120 days, seized…

1 month ago
  • VAT

Men-rea essential pre-requisite for imposition of penalty u/s 54(1)(2) of U.P. VAT Act 2008 – HC

Men-rea on the part of the assessee is an essential pre-requisite condition for imposition of penalty under Section 54(1)(2) of…

1 month ago
  • Income Tax

No relief admissible u/s 89(1) towards compensation received on closure of plant

No relief admissible u/s 89(1) for compensation received on termination of employment due to closure of plant  In a recent…

1 month ago
  • Income Tax

Notices u/s 133(6) not enough for verification of loan transactions from shell companies. High Court

Notices u/s 133(6) not enough for verification of loan transactions from shell companies. AO ought to have done further inquiry…

1 month ago