Judgments

  • Income Tax

No addition for jewellery found in search as net weight was lower than found in earlier search

Addition for jewellery found in search deleted as net weight found in search was lower than jewellery found during earlier…

4 years ago
  • Income Tax

Revised claim of deduction u/s 80IC allowed without filing revised return

Revised claim of deduction u/s 80IC allowed without revised return Judgment of Supreme Court applies to AO not appellate Authorities…

4 years ago
  • bankruptcy

IBBI bans Insolvency Professional for 3 months for appointing unregistered valuer

IBBI bans Insolvency Professional for three months for appointing unregistered valuer ABACUS Case Law CitationABCAUS 3372 (2020) (08) IBBI In…

4 years ago
  • Income Tax

Law does not debar assessee from making claim which he believes is plausible

Law does not debar assessee from making a claim which he believes is plausible and knowing that it will be…

4 years ago
  • Income Tax

2nd reopening notice issued without completing earlier reassessment proceedings invalid

Second reopening notice u/s 148 issued without completing earlier reassessment proceedings is invalid ABACUS Case Law CitationABCAUS 3370 (2020) (08)…

4 years ago
  • Income Tax

Capital gain to be computed first applying exemption then provisions for set off for capital loss

Capital gain to be computed first applying exemption and then provisions for set off of capital loss ABACUS Case Law…

4 years ago
  • Income Tax

Addition for unsecured loans tenable when profits are estimated using gross profit

Addition for unsecured loans tenable when profits are estimated as it is not trading account but balance sheet item ABACUS…

4 years ago
  • Income Tax

Inability of Legal representative to produce evidence alone no basis to disallow expenses 

Inability to produce evidence by Legal representative of assessee alone should not be a basis to decide allowability of expenses. …

4 years ago
  • bankruptcy

Limitation period for application for initiation of CIRP is three years from date of default

Limitation period for making application for initiation of CIRP is three years from date of default. IBC not a money…

4 years ago
  • Income Tax

Depreciation disallowed on VAT portion of capital goods purchased from grey market

Depreciation disallowed on VAT portion of capital goods suspected to be purchased from grey market ABACUS Case Law CitationABCAUS 3364…

4 years ago