Category: Judgments
Assessing agriculture income as business income no basis for imposing penalty u/s 271A as it would not ipso facto lead to conclusion that assessee was aware of the requirement maintaining books of accounts u/s 44AA ABCAUS Neutral Case Law Citation:ABCAUS 3677 (2023) (02) ITAT In the instant case, …
Cash deposited on same day of sale deed execution has a prima facie direct nexus between source of cash deposit and sale transaction – ITAT ABCAUS Neutral Case Law Citation:ABCAUS 3676 (2023) (02) ITAT Important Case Laws relied upon by parties:CIT Vs. Intezar AliShri Pappu Ram Saran vs. …
Reassessment proceedings u/s 148A under amended provisions and impact of the Taxation and Other Laws (Relaxation And Amendment of Certain Provisions) Act 2020 on limitation period – Allahabad High Court struck down CBDT Instruction ABCAUS Case Law Citation:ABCAUS 3675 (2023) (02) HC Important Case Laws relied upon by …
Future refunds can not be adjusted for TDS mismatch in terms of Section 205 of the Income Tax Act 1961 ABCAUS Neutral Case Law Citation:ABCAUS 3674 (2023) (02) HC In the instant case, the assessee had filed a Writ Petition before the Hon’ble High Court challenging the non payment …
Delay in filing of Tax Audit Report due to computer data crash- Penalty u/s 271B quashed ABCAUS Case Law Citation:ABCAUS 3673 (2023) (02) ITAT In the instant case, the assessee had challenged the order passed by the National Faceless Appeal Centre in confirming income tax penalty u/s 271B …
Onus was not on Revenue to demonstrate that the assessee paid commission, but on the assessee to demonstrate that he had paid no commission on admitted accommodation entry. ABCAUS Case Law Citation:ABCAUS 3672 (2023) (02) ITAT Important Case Laws relied upon by parties: In the instant case, the …
Loan obtained preceded by cash deposit of exact amount in lenders account held to be cash credit u/s 68 as the explanation offered was not found to be satisfactory ABCAUS Case Law Citation:ABCAUS 3671 (2023) (02) ITAT In the instant case, the assessee had challenged the order passed …
Adhoc disallowance of estimated expenses was justified in the absence of substantiation of expenses by assessee ABCAUS Case Law Citation:ABCAUS 3670 (2023) (02) ITAT Important Case Laws relied upon by parties:Deputy Commissioner of Income Tax vs. M/s Bhawani Portfolio Pvt. Ltd. In the instant case, the assessee had …
IBC has overriding affect on all the acts including Income Tax Act as specifically provided u/s 178(6) ABCAUS Case Law Citation:ABCAUS 3669 (2023) (02) ITAT In the instant case, both the Revenue and the assessee had challenged the order passed by the CIT(A) for two Assessment Years. The …
Income Tax Prosecution- Accused has no right to inspect judicial file till he is summoned by the Trial Court ABCAUS Case Law Citation:ABCAUS 3668 (2023) (02) AC Important Case Laws relied upon by parties:National Bank of Oman vs Barakara Abdul Aziz & Anr. (2013) 2 SCC 488Udai Shankar …
