The ITAT Jaipur ruled that cash deposits explained by recorded sales cannot be added solely on an uncorroborated survey statement, upholding assessee’s appeal.
The Karnataka High Court has acquitted an assessee, holding he cannot be criminally prosecuted for tax evasion when his Chartered Accountant fraudulently manipulated a payment challan after receiving the full tax amount.
The Income Tax Appellate Tribunal (ITAT) in Pune ruled that dismissing an appeal under Section 249(4)(b) for non-payment of advance tax is unjustified when the assessee, a cooperative society,
ITAT Panaji ruled that cooperative societies can claim a deduction under Section 80P even if they filed their return late, but only for assessment years (AYs) prior to 2018-19.
Karnataka HC refused to interfere with its earlier order setting aside the Income Tax Department’s rejection of ITC’s plea for release of ₹2 crore seized during a raid. The matter was remitted to the Deputy Director of Income Tax for fresh consideration.
The Karnataka High Court has affirmed that a notice for income tax reassessment under Section 148A(b) must grant a minimum of seven days for the assessee to respond.
The Supreme Court has ruled that an application under the State Bank of India’s (SBI) One Time Settlement (OTS) 2020 Scheme is invalid without the mandatory 5% upfront payment of the settlement amount.
MP High Court rules seizure of documented jewellery in transit during elections illegal. Quashes IT action against logistics employee, orders release of consignments.
ITAT Ahmedabad partly allows Rotomag Enertec Ltd.’s appeal, deleting disallowances on foreign commission, warranty provision, and Section 14A. Learn more.
The Madhya Pradesh High Court ruled that a company’s merger does not erase its tax liability, upholding a reassessment notice for unexamined income.
