Category: Judgments

Statutory presumption attached to issuance of a cheque, being one made in discharge of a legally enforceable debt or liability, is required to be accorded due weight. In a recent judgment, Hon’ble Supreme Court held that the statutory presumption attached to the issuance of a cheque, being one …

Merely because the authority conducting auction expects higher bid than the highest bidder is no reason to discard the highest bid. In a recent judgment, Hon’ble Supreme Court has held that merely because the authority conducting the auction expected a higher bid than what the highest bidder had …

Provisions of the Limitation Act, 1963 not apply to quasi-judicial bodies or tribunals, unless they are specifically empowered in that regard – Supreme Court  In a recent judgment, Hon’ble Supreme Court has held that provisions of the Limitation Act, 1963 apply only to suits, applications or appeals made …

Refusing to condone delay can result in a meritorious matter thrown out at very threshold against case being decided on merits after hearing the parties  In a recent judgment, ITAT Mumbai has condoned the delay in filing appeal observing that Hon’ble Supreme Court had held that refusing to …

When prior period expenses are not admissible as deduction, following the same principle the prior period income also cannot be considered as income In a recent judgment, ITAT Ahmedabad accepted the contention that if the prior period expenses are not admissible as deduction, following the same principle the …

Supreme Court condoned delay of 972 days in filing appeal due to restructuring in Income Tax Department In a recent judgment, Hon’ble Supreme Court has quashed order of the Calcutta High Court dismissing the application of Income Tax Department for condonation of delay of 972 days in filing …

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 …