Category: Judgments

Addition can not be made relying on the valuation report of property when the stamp duty valuation is also available on record – ITAT  In a recent judgment, ITAT Agra has held that addition can not be made for inadequate sale consideration of property sold merely relying on …

Wrong claim of deduction u/s 54F/54B was not a case of concealment of particulars of income or furnishing inaccurate particulars In a recent judgment, ITAT Pune has held that making a wrong claim of deduction u/s. 54F/54B was not a case of concealment of particulars of income or …

When foundation of reopening does not survive, no addition can be made in respect of other issues – ITAT In a recent judgment, ITAT Delhi has held that when the very foundation of reopening does not survive, no addition can be made in respect of other issues based …

It is well settled that if any receipt cannot be subjected to tax being exempt under law, negligence of any tax payer would not make it taxable. In a recent judgment, ITAT Varanasi has held that it is well settled that if any receipt cannot be subjected to …

Since UPGST Authorities unable to inform when notice sent by GSTN Portal may have been retrieved or downloaded, no inference may be drawn as to the actual date and time of such service.  In a recent judgment, Hon’ble Allahabad High Court has held that to the extent there …

High Court declines plea of assessee that Income Tax Department wrongly read amount of cash deposit of Rs. 250000 Cr (credit) as Rs. 2.50 crores. In a recent judgment, Hon’ble Allahabad High Court declined to entertain plea of the assessee that Income Tax Department wrongly read amount of …

Discontinuance of business of partnership firm will not result in vesting ownership of firm’s property with individual partners for capital gain taxation In a recent judgment, ITAT Visakhapatnam has held that discontinuance of the business of partnership firm will not result in vesting ownership of firm’s property with …

Stipulation of 120 days for release of seized jewellery/gold u/s 132B is directory not mandatory – Delhi High Court In a recent judgment, Hon’ble Delhi High Court has held that in view of section 132B(4), the stipulation of 120 days for release of seized jewellery/gold is directory not …

Filing audit report in Form 10CCB within due date is mandatory. The assessee cannot claim deduction u/s 80-IA(7) he ground that Form 10CCB was filed before passing of assessment order – ITAT In a recent judgment, ITAT Raipur has held that the audit report in Form 10CCB had …

CSR expenditure of companies is allowable under section 80G unless fall under the two exceptions specified. In a recent judgment, ITAT Ahmedabad has held that CSR expenditure of companies is allowable under section 80G as intention of the Legislature was clear when the same was clarified by the …