ITAT Mumbai’s landmark decision: Mechanical approval under Section 153D of the IT Act vitiates assessments, making them liable to be quashed.
Krishna Das Agarwal Vs DDIT/ADIT (Inv.) (ITAT Jaipur) Black Money Act – Company Is a Separate Legal Entity and The Assessee Cannot Be Held to Be Beneficial Owner Ipso-Facto Due to Majority Shareholding / Directorship.- FULL TEXT OF THE ORDER OF ITAT JAIPUR These bunch of five appeals consist of one appeal filed by the […]
ITAT Delhi – Mere non-construction of property cannot be a ground to deny benefit u/s 54F. The beneficial nature and the object of the provision is ought to be considered by the Income Tax Authorities
Uttarakhand Purv Sainik Kalyan Nigam Ltd. Vs ITO (ITAT Dehradun) Reassessment on the basis of change of opinion, bad-in-law, more-so, when the case was re-opened after the expiry of four year and there was no non-disclosure which could be attributable to the assessee A) Re-opening of assessment on the same issue which was dealt during […]
Harendra Singh Vs ITO (ITAT Delhi) CIT(A) while deleting the sole foundational issue on which the re-assessment proceedings were initiated, cannot go further and examine an issue which was not even the subject matter of re-assessment proceedings Since the reopening was to verify the purchase transaction and since the said transaction never took place and, […]
Hon;ble SC has recently in Union of India vs. Exide Industries Ltd. upheld the constitutionality of section 43B(f) and has propounded that the deduction would be allowable only on actual payments.
