S. 69A: Unexplained money-Unaccounted production-Estimation based on variation in electricity consumption-No evidence of unaccounted purchases or sales-Addition deleted.[S. 132]
Rosha Alloys P. Ltd. v. Dy. CIT (2025) 127 ITR 76 / 175 taxmann.com 622 (Chd.)(Trib.)
Digest of case laws
Online digest of latest case laws
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
Click here to download the pdf versions of the Digest of case laws S. 69A: Unexplained money-Search and seizure-Parallel invoicing-No corroborative evidence connecting seized material with assessee-Addition deleted-Sales-Under-invoicing-Extrapolation of entire turnover unjustified-Addition restricted. [S. 132]
Dy. CIT v. DSG Papers (P.) Ltd. (2025) 127 ITR 410 (Chd.)(Trib.)S. 69A: Unexplained money-Cash deposits during demonetisation-Cash balance contrary to Schedule AL-Addition upheld.
Gowri Shankar Gupta v. ITO (2025) 127 ITR 595 (Hyd.)(Trib.)S. 56 : Income from other sources-Hoarding charges-Not income from house property. [S. 22]
Gowri Shankar Gupta v. ITO (2025) 127 ITR 595 (Hyd.)(Trib.)S. 45 : Capital gains-Fair market value as on 1-4-2001-Collector/Circle rate not examined-Matter remanded.[S.48, 55]
Sterling Holiday Resorts Ltd. v. Dy. CIT (2025) 127 ITR 284 / 180 taxmann.com 310 (Mum.)(Trib.)S. 45 : Capital gains-Short-term capital gains-Business income-Sale of immovable property-Assessee held to be owner-Alternative finding of adventure in the nature of trade upheld. [S. 28(i), 45, S. 44AD, R. 46A]
Piyush M. Dobariya v. ITO (2025) 127 ITR 246 / 174 taxmann.com 1075 (Ahd.)(Trib.) Ajay Reghunhai Barwad v. ITO (2025) 127 ITR 246 / 174 taxmann.com 1075 (Ahd.)(Trib.)S. 45 : Capital gains-Short-term capital loss-Penny stock-Accommodation entries-No independent enquiry-Loss allowable.[S.2(42B), 131, 133A, 143(3)]
Namokar Builders (P.) Ltd. v. Dy. CIT (2025) 127 ITR 304 (Kol.)(Trib.)S. 37(1): Business expenditure-Lease equalisation reserve-Accounting Standard-19-Not a contingent liability-Deduction allowable. [S. 145]
Birlasoft Ltd. v. Asst. CIT (2025) 127 ITR 63 / 173 taxmann.com 634 (Delhi)(Trib.)S. 37(1) : Business expenditure-Mark-to-market loss on foreign exchange hedging-Allowable deduction.
Dy. CIT v. Bodal Chemicals Ltd. (2025) 127 ITR 194 / 177 taxmann.com 448 (Ahd.)(Trib.)S. 37(1): Business expenditure-Employees’ Stock Option Plan-Discount on issue of shares-Expenditure allowable.
Sterling Holiday Resorts Ltd. v. Dy. CIT (2025) 127 ITR 284 / 180 taxmann.com 310 (Mum.)(Trib.)