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. 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)