Category: Judgments
To attract provisions of section 69A sine qua non is “ownership” of money etc. which is not recorded in the books of account not mere presumption- ITAT ABCAUS Case Law Citation:ABCAUS 3819 (2023) (11) ITAT Important Case Laws relied upon by parties:Common cause v. UOI 77 taxmann.com 245 …
Income Tax order without Document Identification Number (DIN) is void ab initio. subsequent separate communication of DIN is a superfluous exercise.– ITAT ABCAUS Case Law Citation:ABCAUS 3818 (2023) (11) ITAT Important Case Laws relied upon by parties:K.P. Varghese v. Income Tax Officer, Ernakulam and Anr., (1981) 4 SCCAbhimanyu …
In ICAI Open Book’ methodology exam also the student required to write answers not copy-paste in the answer book – Supreme Court dismisses student’s SLP ABCAUS Case Law Citation:ABCAUS 3817 (2023) (11) SC The petitioner had appeared in the C.A. final examination conducted by the ICAI in the …
Addition made towards opening balance of capital account merely because no return was filed earlier deleted by ITAT ABCAUS Case Law Citation:ABCAUS 3816 (2023) (11) ITAT In the instant case, the assessee had challenged the order passed by the National Faceless Appeal Centre / CIT(A) in inter alia …
Land introduced as capital in partnership firm rightly taxed as capital gain u/s 45(3), no benefit can be given for stock-in-trade ABCAUS Case Law Citation:ABCAUS 3815 (2023) (11) ITAT Important Case Laws relied upon by parties:P. Nageswara Rao vs. Dy. CITIncome Tax Officer vs. Orchid Griha Nirman (P) …
Addition for bogus capital gain in penny stock company deleted as shares were purchased and sold before order of SEBI and investigation report ABCAUS Case Law Citation:ABCAUS 3814 (2023) (11) ITAT Important Case Laws relied upon by parties:Karuna Garg and Others In the instant case, the assessee had …
Disallowance of ITC under UP VAT Act 2008 not same as in Karnataka VAT Act with respect to by-product/exempt goods – Supreme Court allows ITC ABCAUS Case Law Citation:ABCAUS 3813 (2023) (11) SC Important Case Laws relied upon by parties:State of Karnataka v. M.K. Agro Tech Private Limited, …
Non-issuance of the notice u/s 154(3) is a procedural irregularity. ITAT directs AO to issue notice and give opportunity ABCAUS Case Law Citation:ABCAUS 3812 (2023) (10) ITAT Important Case Laws relied upon by parties:Chockalingam & Meyyappan Vs. CIT (1963) 48 ITR 34 In the instant case, the assessee …
Before disallowance of salary u/s 40A(2)(b) Assessing Officer was duty bound to provide an opportunity to the assessee to place on record the requisite evidence. ABCAUS Case Law Citation:ABCAUS 3811 (2023) (10) HC In the instant case, the assessee had challenged the order passed by the ITAT in …
No revision u/s 263 can be done on debatable Issue on applicability of provision of Section 115BBE of the Act to the relevant assessment year – ITAT ABCAUS Case Law Citation:ABCAUS 3810 (2023) (10) (ITAT Important Case Laws relied upon by parties:Balvinder Singh vs. PCITYogesh Kumar vs. PCIT …