Judgements Uploaded By Users In Category: Income-Tax Act
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The ITAT JAIPUR has held that WHEN SOURCE OF CASH DEPOSIT IS INCLUDED IN TURNOVER OFFERED FOR TAX IN RETURN OF INCOME FILED U/S 44AD, NO ADDITION IS VALID Read More ...
The ITAT DELHI has held that Enhancement made by the CIT (Appeals) on issues, which were not part of limited scrutiny invalid and in violation to CBDT Instructions . Read More ...
The Delhi High court has held that Glaring mistakes in reasons recorded in writing, Approval u/s 151 also improper- Delhi High court quashes notice u/s 148 ignoring plea of alternative remedy. Citation-Synfonia Tradelinks Private limited Vs ITO Court- Delhi High court Date-26th March 2021 In a case where there was complete non application of mind not only in the way reasons were… Read More ...
The ITAT DELHI has held that After distinguishing the judgment of Hon'ble Apex Court rendered in the case of B.Kishore 273 CTR 0468(Mad) affirmed by Apex Court. Hon'ble Bench of ITAT has held a) statement recorded u/s 132(4) alone cannot be termed as incriminating material it should have nexus with incriminating material b) No assessment can be framed on the basis… Read More ...
The Bombay High Court has held that Whether tax arrears relatable to a company which has been merged with another company can be settled under the Vivad Se Vishwas Scheme, 2020 even though prosecution has been launched on a different issue in the case of the amalgamated company. Forum-Bombay High Court Date- 25th March 2021 Citation-Macrotech Developers Limited The Bombay high court… Read More ...
The Delhi High court has held that Whether review petition pending before Supreme Court against a judgement of Supreme Court itself can be considered as pending appeal in terms of Section 2(1)(a) of the Vivad Se Vishwas Act, 2020? Forum- Delhi High Court Date-19-03-2021 Citation-NRA Iron & Steel Pvt ltd Vs Income-tax department & Ors The Delhi High court recently considered the… Read More ...
The ITAT Delhi has held that If the materiel on the basis of which reasons were recorded and belief has been entertained is already reversed by the High Court then such an action of 147 is not tenable in law. Read More ...
The ITAT DELHI has held that Reopening the assessment on the allegation that assessee indulge in smuggling however not assessing any income from smuggling would be without jurisdiction since the information was vague and the belief entertained is based on material which was factually incorrect. Hence the action of 147 is not tenable Read More ...
The ITAT Delhi Bench has held that Jurisdiction of 147 cannot be assumed on wrong facts, mentioning escapement of an amount of Rs 50 lakh and finally assessing an amount of Rs 95 lakhs amounts to mentioning of wrong facts, further mere endorsement of "Approved" is amounts to mechanical approval by CIT u/s 151 Read More ...