This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
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S. 69B : Amounts of investments not fully disclosed in books of account-Sauda Chithhi-Dumb documents-Incriminating documents-Sale of land-Land was not transferred-Deletion of addition by the Tribunal is affirmed. [S. 45, 260A]

PCIT (C) v. Prabodhchandra Jayantilal Patel (2023) 294 Taxman 440 (Guj.)(HC)

S. 69A : Unexplained money-Seizure of gold-Distinctive identification numbers on challans-Deletion of addition by the Tribunal is affirmed. [S. 260A]

PCIT v. Goutam Chakraborty (2023) 294 Taxman 284/ 334 CTR 593 (Cal.)(HC)

S. 69A : Unexplained money-Loose papers-Admitted by assessee-Order of Tribunal is affirmed. [S. 260A]

Ramakrishna v. Dy. CIT (2023) 154 taxmann.com 40 (Karn)(HC) Editorial : SLP of assessee is dismissed, C. Ramakrishna v. Dy. CIT (2023) 456 ITR 253 / 294 Taxman 609 (SC)

S. 69A : Unexplained money-Lose papers-SLP is dismissed-Order of High Court is affirmed. [Art. 136]

C. Ramakrishna v. Dy. CIT (2023) 456 ITR 253 / 294 Taxman 609 (SC) Editorial : C. Ramakrishna v. Dy. CIT (2023) 154 taxmann.com 40 (Karn)(HC)

S. 68 : Cash credits-Bank deposit-Failure to prove the nature of the source-Addition is confirmed. [S. 260A]

Rupal jain (Mrs.) v. CIT (2023) 152 taxmann.com 345 (All)(HC) Editorial : SLP of Revenue is dismissed, Rupal jain (Mrs) v. CIT (2023) 454 ITR 813 / 294 Taxman 261 (SC)

S. 68 : Cash credits-Long term capital gains-Penny stock-No adverse comment by stock exchange-Order of Tribunal is affirmed. [S. 10(38) 45, 260A]

PCIT v. Renu Aggarwal (Smt) (2023) 153 taxmann.com 578 (All)(HC) Editorial : SLP of Revenue is dismissed, PCIT v. Renu Aggarwal (Smt) (2023) 456 ITR 249 /294 Taxman 521 (SC)

S. 68 : Cash credits-Long term capital gains-Penny stock-No adverse comment by stock exchange-Order of High Court is affirmed-SLP of Revenue is dismissed. [S. 10(38) 45, Art. 136]

PCIT v. Renu Aggarwal (Smt) (2023) 456 ITR 249 /294 Taxman 521 (SC) Editorial: PCIT v. Renu Aggarwal (Smt) (2023) 153 taxmann..com 578 (All)(HC)

S. 68 : Cash credits-Bank deposit-Failure to prove the nature of the source-Order of High Court is affirmed-SLP of assessee dismissed. [Art. 136]

Rupal jain (Mrs) v. CIT (2023) 454 ITR 813 / 294 Taxman 261 (SC) Editorial : Affirmed, Rupal jain (Mrs) v. CIT (2023) 152 taxmann.com 345 (All)(HC)

S. 43A : Rate of exchange-Foreign currency-Gain arising on account of exchange fluctuation is not liable to tax as it is on capital account foreign exchange.

PCIT v. Bangalore International Airport Ltd. (2023) 459 ITR 158 459 ITR 158 / 154 taxmann.com 394 (Karn)(HC) Editorial : SLP of Revenue is dismissed, PCIT v. Bangalore International Airport Ltd. (2023) 294 Taxman 590 (SC)

S. 37(1) : Business expenditure-Bonus to employees-Not doubted bona fide in creation of trust or that expenditure was not incurred wholly and exclusively for employees-Order of Tribunal allowing the expenditure is affirmed. [S. 36(1)(iv), 36(v), 40A(9)]

PCIT v. State Bank of India (2023) 153 taxmann.com 389 (Bom)(HC) Editorial : SLP of Revenue is dismissed, PCIT v. State Bank of India (2023) 294 Taxman 428 (SC)