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. 69C : Unexplained expenditure-Bogus purchases-No discrepancy between purchases shown and sales declared-Only gross profit ratio can be applied-Order of Tribunal is affirmed. [S.260A]
PCIT v. Anil Jagannath Tiwari (2023) 153 taxmann.com 539 (Bom)(HC) Editorial : SLP of Revenue is dismissed due to low tax affect, PCIT v. Anil Jagannath Tiwari (2023) 294 Taxman 517 (SC)
S .69C : Unexplained expenditure-Survey-Bogus purchases-Statement retracted-Deletion of addition by the Tribunal is affirmed. [S.131, 133A 260A]
PCIT v. Yog Oil Traders (2023) 294 Taxman 480 (Bom.)(HC)
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. 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)