ITAT Amritsar deleted ad hoc expense disallowances and allowed Section 10(23C)(iiiad) benefit after excluding contra van rent entries from turnover.
Madras HC dismissed the Revenues appeal, holding the Section 36(1)(iii) issue was covered by its earlier ruling and no fresh investment was made in AY 2004-05.
NCLAT upheld rejection of a Section 10 IBC application, holding it was initiated fraudulently and with malicious intent under Section 65 of the IBC.
Bombay HC upheld ITAT, holding that CIT(A) cannot dismiss an appeal for non-prosecution and must decide it on merits under the Income Tax Act.
Punjab & Haryana HC upheld ITAT, holding Section 263 was not invocable as the AO had conducted enquiry and Section 24(a) deduction was allowable.
Punjab & Haryana HC upheld ITAT, holding Section 263 revision was not justified as the AO conducted due enquiry and the twin conditions were not satisfied.
ITAT remanded Section 54F and Section 50C issues for fresh computation after DVO valuation and reconsideration of construction expenditure.
ITAT Chennai allowed Section 54F exemption based on actual sale consideration, holding Section 50C deeming value not applicable for the exemption claim.
Cost of Improvement on Farm Land Allowable; Section 54F Exemption to Be Computed on Actual Sale Consideration, Not Section 50C Value: ITAT Chennai
Bombay HC set aside the income-tax demand and refund adjustment as the Department failed to produce and prove service of Section 143(1) intimation.
