The Tribunal held that a 3,134-day delay deserved condonation where the assessee proved non-service of the assessment order. The key takeaway is that absence of service constitutes sufficient cause and justice cannot be denied on limitation alone.
The Tribunal held that an intimation under Section 143(1) based on a forged revised return is appealable. It directed a fresh assessment after allowing the assessee to file the correct return, reaffirming that technicalities cannot defeat substantive justice.
The Tribunal held that a bona fide delay caused by genuine circumstances deserves condonation. The key takeaway is that technical limitation cannot override substantive justice.
The Tribunal held that reassessment initiated after three years was void because approval was taken from an incompetent authority. The key takeaway is strict compliance with section 151(ii) is mandatory and jurisdictional.
The court ruled that insisting on a flat 20% deposit to grant stay is illegal, holding that authorities must exercise discretion under Section 220(6) after considering merits and hardship.
The ITAT ruled that long-term capital gains cannot be treated as bogus solely on suspicion when transactions are supported by proper banking, demat, and broker records.
The High Court held that prosecution was invalid because the officer who filed the complaint lacked authority under the sanction granted, reinforcing that sanction is a jurisdictional prerequisite.
The Tribunal held that the tax department cannot substitute actual sale consideration with a notional market price without express legal provision, and deleted the entire addition.
Indian City Properties Limited Vs PCIT (ITAT Kolkata) The Tribunal held that the invocation of Section 263 on the proposal of the AO is not sustainable under the Act, as the PCIT failed to independently apply his mind and record satisfaction of the twin conditions. The assessment was completed under Section 143(3) r.w.s. 144B after […]
The ITAT held that a penalty under Section 271D cannot survive without recorded satisfaction by the Assessing Officer during pending assessment proceedings.
