ITAT Hyderabad deleted the Section 115BB addition after holding that the gaming platform’s records showed a net loss, not taxable winnings.
ITAT Chennai held that the assessees bona fide belief, based on the Departments consistent acceptance of interest income as Income from Other Sources, amounted to reasonable cause under Section 273B. The penalty under Section 271B was deleted.
NCLT admitted the Section 9 petition after holding that campaign-related emails did not constitute a genuine pre-existing dispute.
ITAT held that where sales are accepted, the entire purchase amount cannot be added. The addition was restricted to 8% as the embedded profit element.
Gujarat High Court held SVLDRS relief unavailable as service tax was not quantified before 30 June 2019. Partial admission during inquiry was insufficient.
NCLT Amaravati held that the corporate debtor’s OTS proposals constituted acknowledgments of debt, giving rise to a fresh limitation period. The Tribunal admitted the Section 7 petition after finding the debt and default established.
Gujarat High Court held rebate is available only on goods actually exported as reflected in shipping bills. Moisture loss without prior declaration cannot increase rebate.
ITAT held that exemption under Sections 54/54F cannot be denied where sale proceeds are invested in a residential house within the prescribed period.
ITAT held BSNL VRS-2019 compensation is retrenchment compensation under Section 10(10B), exempt from tax, and reversed the CIT(A)’s order.
ITAT held ₹33 crore settled rights over the entire land, allowing full indexed acquisition cost and rejecting proportionate restriction by the AO.
