The issue was addition of cash deposits during demonetisation as unexplained income. The Tribunal held that the assessee’s explanation supported by affidavit was credible, leading to deletion of the addition.
The tribunal dismissed the appeal as the assessee failed to appear and substantiate claims despite multiple opportunities. It emphasized that procedural non-compliance weakens legal claims.
The tribunal ruled that rejection of Section 54F deduction was premature as the assessee later produced relevant documents. It directed reassessment to verify evidence and ensure proper hearing.
The tribunal reversed the CIT(A)’s decision for wrongly quashing assessment due to lack of notice under Section 143(2). It held that Section 263 proceedings are a continuation of original assessment.
The issue covers taxation and computation of house property income under the new law. The key takeaway is clarity on annual value, deductions, and exemptions.
The issue was classification of services as intermediary leading to denial of export benefits. Courts held that services provided on own account are not intermediary, ensuring export eligibility.
The issue was whether multiple medical bills constituted a single transaction under Section 269ST. The Tribunal held that separately billed services are independent transactions, so penalty was not justified.
The reform moves taxation from companies to shareholders, aligning buybacks with dividend taxation. This reduces tax arbitrage but increases investor tax liability.
The eligibility period for startup tax exemption has been extended to March 31, 2030. Startups must meet DPIIT and compliance conditions to claim benefits.
GST applies on TDR, construction, and sale of units under JDAs. Tax is payable mainly on unsold units at completion, ensuring no double taxation.
