Category: Judgments
Assessee did not challenge order u/s 148A(d) and participated in the re-assessment proceedings – High Court declined to interfere In a recent judgment, Rajasthan High Court declined to interfere with re-assessment proceedings as the assessee did not challenge the order under section 148A(d) and participated in the re-assessment …
High Court condoned delay in filing Audit Report in Form 10B as the change in dates in filing audit report before return had caused confusion. In a recent judgment, Kerala High Court condoned the delay in filing Audit Report in Form 10B as the change in dates in …
Addition u/s 68 for corpus donation received from struck off companies – SLP dismissed In a recent judgment, Hon’ble Supreme Court dismissed the Special Leave Petition (SLP) of the assessee against the order of the High Court upholding addition under section 68 towards corpus donation received from companies …
Merely because deductor under misconception deducted TDS u/s 194C and 194J, it would not disentitle assessee, benefit under Sections 11 and 12 of the Act. In a recent judgment, The Hon’ble Supreme Court has dismissed the SLP of the Revenue against the the decision of the Delhi High …
Reopening quashed as AO failed to provide all information and relied upon material available alongwith notice u/s 148A(b) of the Income Tax Act, 1961 (the Act). In a recent judgment, ITAT Delhi quashed notice under section 148 as Assessing Officer failed to comply with the direction given by …
Cash withdrawn from the bank account cannot be considered as unexplained money when the turnover was not disputed – ITAT In a recent judgment, ITAT Jaipur deleted addition under section 69A holding that cash withdrawn from the bank account cannot be considered as unexplained money when the turnover …
Demand quashed as GST, interest and penalty demanded was in excess of the amount specified in the show cause notice issued. In a recent judgment, Hon’ble Allahabad High Court quashed the demand order issued by GST Officials on violation of section 75(7) as the amount of GST, interest …
Real vs. Notional Income has considerable judicial precedents in terms of directing assessment of only real income and not any notional one – ITAT In a recent judgment, Guwahati ITAT deleted addition made by AO for notional interest income on interest free advances by observing that concept of …
High Court grants bail under the provisions of BNSS, 2023 in a case registered under Section 132 of the Punjab Goods and Services Tax Act, 2017. In a recent judgment, Hon’ble High Court of Punjab & Haryana has granted bail to the assessee under the provisions of Bharatiya …
Cash Advance received by the assessee and not doubted by AO can’t be rejected as source of cash available for deposits in bank – ITAT In a recent judgment, ITAT Agra held that when Assessing Officer (AO) accepted the advance received from customers in cash as genuine and …
