The ITAT Delhi has dismissed the Revenue’s appeal in the case of ACIT vs. Cogent Realtors Pvt. Ltd. The appeal was dismissed based on the lack of jurisdiction under Section 153C of the Income Tax Act due to the absence of incriminating material. The disallowance made by the Assessing Officer was also found to be unsustainable.
Orissa High Court confirms the jurisdiction of the search and seizure authority to pass an order of demand and penalty under Section 130 of the OGST/CGST Act.
ITAT Pune upholds penalty under Section 271B against Santosh Swarupchand for not filing an audit report, citing contradictions in an accountant’s affidavit.
In a recent case, the ITAT found that the assessee did not receive a fair opportunity to represent its case before the first appellate authority due to circumstances beyond its control. As a result, the ITAT set aside the first appellate authority’s orders and restored the matters for a fresh decision.
In a recent case (Howrah Improvement Trust vs. DCIT) heard by ITAT Kolkata, the addition of government grants as corpus or income was deleted.
In a recent case (DCIT vs. Religare Finvest Ltd) heard by ITAT Delhi, it was ruled that lessor is entitled to claim depreciation on leased assets under a finance lease agreement.
ITAT Mumbai held that FCCB i.e. Foreign Currency Convertible Bond expenses included as part of FCCB premium expenses is allowable.
Delhi High Court held that the award can be regarded as enforceable only if it is actually executable. Accordingly, the Final Partial Award passed by the Arbitral Tribunal is unenforceable award.
Punjab and Haryana High Court dismissed the petition for grant of anticipatory bail in the case of fictitious firm/ company registration under GST as an offence is prima facie established against the petitioner.
Explore the outcome of Ramabhai Kanjibhai Patel vs DCIT where the ITAT Surat negates penalty under Income Tax Act Section 271(1)(b) when the assessment gets completed under Section 143(3).
