Category: Judgments

Even admission of assessee without corroborative evidence cannot be made basis for addition – High Court In a recent judgment, the Hon’ble Rajasthan High Court has held that the admission of the assessee in absence of any corroborative evidence to strengthen the case of the Revenue cannot be …

Nobody would withdraw cash and keep it idle for a long period – ITAT uphold addition for cash deposit In a recent judgment, the ITAT Surat has rejected the cash withdrawal made one year prior as source of cash deposit in bank holding that it cannot be accepted …

Assessee should not be disqualified from producing evidence merely for the fact it was not produced before the Assessing Officer (AO) In a recent judgment, the ITAT Ranchi has held that the assessee should not be disqualified from producing evidence merely for the fact it was not produced …

Cultivation of banana saplings held as agricultural activity after Plantlets left laboratory – ITAT In a recent judgment, the ITAT Hyderabad dealt with the question whether cultivation of banana saplings is an agricultural activity or not and held that income derived from the operations conducted after the Plantlets …

High Court criticises ITAT for change in its stand on applicability of amendment to section 14A In a recent judgment, the Hon’ble Guwahati High Court has criticised ITAT for change in its stand on applicability of amendment to section 14A observing that authority discharging judicial functions is expected …

GST Proceedings u/s 73 if finalized cannot be reopened u/s 74 except the case of fraud or wilful mis-statement or suppression of facts to evade tax.  In a recent judgment, the Hon’ble Allahabad High Court has held that if the proceedings under Section 73 of the CSGT Act …

Blank large spaces in agreement clearly indicates it was prepared on a blank stamp paper on which the thumb impressions of the illiterate appellant taken prior to its transcription – SC In a recent judgment, the Hon’ble Supreme Court set aside the decree of specific performance under the …

In best judgment assessment case, it could not be alleged that AO did not make proper enquiries In a recent judgment, the ITAT Chennai has held that when assessment was framed on best judgment basis wherein the income is assessed to the best judgment of AO without considering …

AO can’t review own decision by rectification u/s 154 to disallow late deposit of PF  In a recent judgment, the ITAT Delhi has held that when Assessing Officer consciously allowed deduction of late deposit of PF, subsequently, by relying on the judgment of the Hon’ble Supreme Court he …

Stamp duty held payable on agreement to sell executed prior to sale deed – Supreme Court In a recent judgment, Hon’ble Supreme Court has held that stamp duty was payable on agreement to sell executed prior to sale deed as agreement to sell as it was principal document …