Category: Judgments
Change of opinion not a jurisdictional issue-Writ Petition against notice u/s 148 was dismissed by the High Court due to alternative remedy. In a recent judgment, Hon’ble High Court of Jharkhand has dismissed a Writ Petition against notice u/s 148 holding that change in opinion cannot be said …
Cheque bounce accused acquitted as complainant did not show amount given as loan in his income tax return. In a recent judgment, Hon’ble Supreme Court has confirmed the acquittal of accused in a case of cheque dishonour where the complainant did not show the amount advanced in his …
No Penalty u/s 271E on repayment of loan by journal entries of sale bills – ITAT In a recent judgment, ITAT Indore has held that penalty u/s 271E was not justified when loan was repaid by adjustment of by way of journal entries of genuine sales. ABCAUS Case …
Reopening on incorrect reasons recorded that assessee not filed return of income quashed by ITAT In a recent judgment, ITAT Guwahati has quashed the reopening done on the factually incorrect reasons recorded by the AO that assessee had not filed return of income. ABCAUS Case Law Citation:4195 (2024) …
Legal representatives can not be proceeded without following provisions u/s 148A(b) – High Court In a recent judgment, the Hon’ble High Court of Rajasthan has held that proceedings under the liability created against legal representatives of deceased assessee can be initiated but only after compliance of mandatory provisions …
Submission of form 10CCB is directory in nature and not mandatory – ITAT In a recent judgment, the ITAT Amritsar has held that submission of form 10CCB is directory in nature and not mandatory and it is sufficient compliance if the said report is filed with the AO, …
Provisions of Section 50C were not applicable as land was sold by the secured lenders to recover from dues, SC dismissed the Special Leave Petition. In a recent judgment, the Hon’ble Supreme Court has dismissed SLP against the decision of Delhi High Court holding that revision u/s 263 …
Merely observing absence of financial difficulties does not amount to consideration of genuine hardship – High Court In a recent judgment, Hon’ble High Court of Karnataka has held that mere absence of financial difficulties as observed by the Commissioner of Income Tax by itself does not amount to …
No disallowance of late deposit of PF/ESI can be made without affording opportunity to assessee to show that the said payments were made within time In a recent judgment, Hon’ble Allahabad High Court remanded disallowance of late deposit of PF/ESI made without affording opportunity to assessee to show …
Cash surrendered during survey not covered by deeming provisions of section 69 and 69A – ITAT In a recent judgment, ITAT Amritsar has held that excess cash found and surrendered during survey was not covered by deeming provisions of section 69 and 69A hence not taxable at higher …
