ITAT Mumbai held that penalty u/s 271(1)(c) not leviable as mere making of a claim which is not sustainable in law by itself will not amount to furnishing of inaccurate particulars of income.
Kerala High Court held that as the nature of the land of the petitioner has been permitted to be changed pursuant to passing of a statutory order under the Kerala Land Utilisation Order, 1967, the competent authority is bound to re-assess the rate of Basic Tax in respect of the land
Kerala High Court held that there cannot be an automatic demand for property tax without fixing the tax payable in accordance with the procedure provided in the Act and the Rules. Accordingly, demand of property tax without assessment of the property is untenable in law.
ITAT Delhi held that plausible approach adopted by AO cannot be labeled as erroneous. Hence, revisionary order under section 263 of the Income Tax Act is unsustainable in law.
Madras High Court set aside the orders calling upon the petitioner to remit arrears of property tax as no notice was issued prior to passing order of re-assessment under section 137B of the Chennai City Municipal Corporation Act.
ITAT Delhi held that Tax Residency Certificate (TRC) is statutorily the only evidence required to be eligible for the benefit under the DTAA. Accordingly, benefit of India-Mauritius DTAA duly available.
ITAT noted that the explanations provided by the assessee concerning the withdrawals, deposits, and utilization of cash over time were satisfactory. The Tribunal acknowledged the Indian socio-economic constructs where holding cash, especially in rural society, is common.
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