Category: Judgments

Approved Resolution Plan is binding on Income Tax Department. Demands raised subsequently are invalid – Supreme Court In a recent judgment, the Hon’ble Supreme Court has held that the approved Resolution Plan is binding on the Income Tax Department and any subsequent demand raised are invalid. ABCAUS Case …

Statements recorded u/s 131(1A) instead of section 133A(iii) by survey team were invalid hence no addition can be made merely on the basis of invalid statements – ITAT In a recent judgment, ITAT Chennai has held that statements recorded u/s 131(1A) instead of section 133A(iii) by the survey …

ITAT was not justified in declining admission of additional evidence without recording finding those documents were not necessary for deciding the case. In a recent judgment, Hon’ble Chhattisgarh High Court held that ITAT was not justified in declining the application for admission of additional evidence as it did …

ITAT quashed additions based on entries found in small diary found during search without any corroborative evidence. In a recent judgment, the ITAT Delhi quashed addition based on entries found in small diary found in the course of search without making any independent enquiry or any corroborative evidence. …

Director was not guilty of offence u/s 138 of NI Act in view of initiation of insolvency proceedings and moratorium order – Supreme Court In a recent judgment, the Hon’ble Supreme Court quashed the complaint case under Section 138 of Negotiable Instruments Act, 1881 against the director for …

Reopening proceedings upheld though the notice u/s 148 wrongly stated that no return was filed as reopening was not based on non-filing of ITR In a recent judgment, Hon’ble Bombay High Court upheld the initiation of reopening proceedings u/s 147 where though the notice u/s 148A(d) wrongly stated …

Mere non response by assessee to show cause notice u/s 263 is not sufficient to justify revisionary order – ITAT In a recent judgment, ITAT Agra has held that mere non response by the assessee to show cause notice u/s 263 is not sufficient to justify revisionary order …

Penalty u/s 270A can not be levied for only making a claim which was disallowed. Filing of Form No. 68 for claiming immunity u/s 270AA is only procedural and directory – ITAT  In a recent judgment, ITAT Agra deleted penalty u/s 270A holding that no penalty u/s 270A …

Levy of penalty u/s 271(1)(b) for each default in not responding to notices issued u/s 142(1) of the Act was not justified – ITAT In a recent judgment, ITAT Pune deleted penalty u/s 271(1)(b) holding that levy of penalty for each default in not responding to the notices …

Refund of advance amount on cancellation of agreement for purchase of property does not partake the character of loan or deposit or any specified sum as provided u/s 269SS – ITAT In a recent judgment, ITAT Hyderabad deleted penalty u/s 271D holding that refund of advance amount on …