Karnataka High Court allows PCIT’s appeal, upholding a Section 263 revision for non-disallowance of commission payments without TDS, citing AO’s lack of explicit inquiry.
Karnataka High Court upholds Section 263 revision for erroneous 100% depreciation allowance on leasehold improvements, citing AO’s lack of inquiry and application of mind.
Supreme Court rules a partnership does not dissolve upon a partner’s death if the deed provides for continuity. Legal heirs’ consent is not mandatory for firm reconstitution, rejecting IOCL’s supply cessation.
ITAT Bangalore rejected Jurimatrix Services’ appeal citing a 596-day delay and no grievance against a Section 263 order, highlighting the need for timely and forum-appropriate appeals.
ITAT Bangalore rules that merely disallowing advances written off and interest claims does not warrant a penalty under Section 271(1)(c), reinforcing that an honest claim, even if rejected, is not an inaccurate particular of income.
ITAT Mumbai dismisses Revenue’s appeal against Thirumalai Marketing & Investments Ltd., upholding the assessee’s proof of the lender’s identity and creditworthiness for a Rs. 5 crore loan.
Bangalore ITAT remands Om Prakash Girgaonkar’s appeal to AO, citing potential double addition on property purchase and unverified cash deposits.
Bangalore ITAT cancels reassessment proceedings against Amit Kumar Banthia (HUF) due to the Assessing Officer’s failure to follow mandatory procedures.
Delhi ITAT deletes income tax additions based on loose papers, citing lack of corroborative evidence and AO’s failure to conduct independent inquiries, emphasizing dumb documents are not sufficient for additions.
ITAT Delhi quashes an addition made by the DCIT against Virender Verma, finding the accommodation entry allegation unproven due to lack of supporting material and an unrelated seized ledger.
