Karnataka High Court held that reopening a completed scrutiny assessment without fresh tangible material is impermissible as it amounts to a change of opinion.
Karnataka High Court held that Section 14A disallowance must be based on actual expenditure and remanded the matter for fresh computation.
Delhi High Court ruled that expenditure cannot be disallowed under Section 14A unless exempt income is actually earned in the relevant year.
Supreme Court held that a Section 7 IBC application can proceed despite pending winding-up proceedings where no irreversible stage has been reached.
ITAT held that Section 54 permits exemption where capital gains from more than one residential house are invested in a single residential house.
ITAT confirmed additions under Section 68 after relying on earlier findings that the lender companies provided accommodation entries.
ITAT held that an Assessing Officer cannot substitute the DCF method chosen under Rule 11UA with the NAV method without legal justification.
ITAT deleted Section 68 additions after finding that the assessee established investor identity, creditworthiness and transaction genuineness with documentary evidence.
Supreme Court held that Section 10A is a deduction provision, but the deduction must be allowed while computing the eligible undertaking’s gross total income under Chapter IV.
Bombay HC held societies only recognize members for administration, not title. Membership cannot be denied over unresolved ownership claims.
