The Delhi ITAT has quashed a reassessment based on “borrowed satisfaction,” ruling that the tax department acted without independent inquiry and on suspicion, not tangible material.
The ITAT Delhi upheld the genuineness of a long-term capital gain, ruling that an LTCG exemption cannot be denied solely based on suspicion, if the transaction is supported by documentary evidence
The ITAT Delhi has upheld the deletion of an addition for alleged bogus loss from Client Code Modification. The tribunal ruled that the mere non-response of a broker to an inquiry is not enough to prove connivance without concrete evidence
The ITAT Delhi has ruled that a charitable institution’s Section 11 exemption can’t be fully denied for a violation under Section 13. Exemption is restricted only to the extent of the offending amount.
ITAT Delhi annuls Mahagun Group assessments, ruling that the mandatory approval u/s 153D was given mechanically and without proper application of mind, defeating the legislative intent.
The Karnataka High Court has dismissed an appeal from the Chilume Social Service Society, upholding the dismissal of its tax case due to an unexplained seven-year delay in filing the appeal.
The Delhi ITAT has quashed a penalty under Section 271(1)(c), ruling that an “omnibus” no-tice that failed to specify the charge against the taxpayer was invalid and showed non-application of mind.
The ITAT Delhi upheld the deletion of a ₹39.83 crore addition to Santosh Trust, ruling that its cash deposits during demonetization were explained by regular fee collections
The Karnataka High Court rules free prototypes from AEs are not taxable under Section 28(iv), and payments for general employee training are not taxable as FTS under the India-Singapore DTAA.
The Supreme Court has quashed a prosecution for wilful tax evasion, ruling the tax department violated its own CBDT circulars by pursuing the case after the Settlement Commission granted immunity.
