Category: Judgments
Mere higher profit margins would not make payments made by Trust as diversion of funds for the benefit of the specified persons for invocation of Section 13(1)(c) In a recent judgment Hon’ble High Court has held that mere existence of higher profit margins, in the absence of material …
Chartered Accountant can’t be made an Inquiry Officer under section 24 of Societies Registration Act 1860 – High Court In a recent judgment, Hon’ble High Court has held that appointment of Chartered Accountant Company can only be made for purpose of conducting audit and it cannot made an …
Since TDS statements are filed on a quarterly basis, the computation of limitation for treating assessee in default u/s 201 (3) operate quarter-wise – High Court In a recent judgment, Hon’ble High Court has held that scheme of TDS compliance and rules treats each quarter as a separate …
No addition can be made on the basis of the statement recorded during survey u/s 133A from the husband who was also employee of the assessee. In a recent judgment, ITAT Guwahati has held that addition can not be made on the basis of the statement recorded during …
Satisfaction note u/s 153C should be prepared for each Assessment Year mentioning the documents seized in respect of each AY. In a recent judgment, ITAT Bangalore has held that the satisfaction note should be prepared for each Assessment Year mentioning the documents seized in respect of each A.Y. …
A Writ Petition should be filed within a reasonable period, High Court dismissed Petition challenging order passed u/s 119(2)(b) In a recent judgment, Hon’ble High Court while dismissing Writ Petition against order passed u/s 119(2)(b) by the CIT rejecting application for delay in filing return of income observed …
Addition u/s 68 of the Income Tax Act towards entries of cash deposit in bank statement upheld even though assessee was not maintaining any books of accounts. In a recent judgment, ITAT Delhi has upheld addition made u/s 68 of the Income Tax Act towards entries of cash …
Merely because loan creditor existed in the premises wherein accommodation entry providers had their offices, AO cannot come to the conclusion that loan creditor was also an accommodation entry provider. In a recent judgment, ITAT Delhi has held that merely because loan creditor was existed in the premises …
AO stating that material forming basis of reopening shall be disclosed at the stage of assessment/re-assessment, indicates that the AO had prejudged the issue. In a recent judgment, Hon’ble High Court has set aside order u/s 148A(d) holding that non making available material forming basis of initiation of …
Reopening conclusion that assessee was “Non-Filer” despite assessee clearly stating in reply that he had filed ITR was non-application of mind – High Court In a recent judgment, Hon’ble High Court set aside reopening notice holding that conclusion arrived by the Assessing Officer that the assessee was a …
