Category: Judgments

PCIT approval for re-opening only by putting signing was without application of mind -SC dismissed SLP  PCIT approval for re-opening only by signing was without application of mind –Supreme Court dismisses SLP of the Income Tax Department   In a recent judgment, Hon’ble Supreme Court has dismissed the …

Re-assessment concluded prior to Supreme Court judgment in Ashish Agarwal can not be opened afresh In a recent judgment, Hon’ble Delhi High Court has held that Income Tax Department was not justified in issuing notices afresh seeking to reopen the proceedings u/s 147 which had been concluded prior …

Allahabad High Court warns GST authorities using pressure tactics by issuing advisory letters In a recent judgment, Hon’ble Allahabad High Court has warned the GST authorities using pressure tactics by issuing advisory letters and quashed the letter issued advising petitioner to make voluntary payments without issuing any show …

ITAT quashed disallowance u/s 40A(3) as assessee never operated any bank account  In a recent judgment, ITAT Delhi quashed disallowance u/s 40A(3) where assessee never operated any bank account for running the business, it was held that invoking provisions of section 40A(3) overlooking the business expediency and also …

ITAT set aside order as in Form No.35 assessee had clearly indicated his choice that no notice/communication should be sent on email  In a recent judgment, ITAT Ahmedabad set aside appeal order as assessee in Form No. 35 had clearly indicated his choice that no notice/communication should be …

Mere non submission of the PAN details will not lead to disallowance u/s 68 – ITAT In a recent judgment, ITAT Delhi has held that mere non submission of the PAN details will not lead to disallowance of cash credits u/s 68 of the Income Tax Act, 1961. …

NFRA penalises Chartered Accountant for misrepresenting facts holding that misrepresenting facts in NFRA proceedings amounts to professional misconduct. In a recent judgment, National Financial Reporting Authority (NFRA) has penalised a CA holding that misrepresentation of facts during NFRA proceedings under section 132(4) of the Companies Act 2013 amounted …

Addition made to income on account of travelling expenses to Pakistan – ITAT remands case to AO for verification In a recent judgment, the Amritsar ITAT has restored the issue of addition made to income on account of travelling expenditure to Pakistan for verification of source of expenditure. …

Information from Investigating Wing cannot be sole basis for forming belief that income escaped assessment – High Court In a recent judgment, Hon’ble Delhi High Court has held that information received from Investigating Wing cannot be the sole basis for forming a belief that income of the assessee …

Revision u/s 263 arising from tax auditors observation upheld as AO did not examine the matter In a recent judgment, ITAT Chennai has upheld revisionary proceedings u/s 263 which stemmed from observation of Tax Auditor that there was remission of trading liability u/s 41(1)(a) of the Act and …