The Tribunal held that the timing of loan disbursals and demonetization supported the assessee’s explanation. Key takeaway: partial relief granted by accepting most of the deposit as explained.
SC affirmed that income of liquor syndicates assessed as AOPs must be taxed in hands of those AOPs only, not their individual members, upholding High Court and ITAT rulings.
ITAT Chandigarh ruled that the CIT(A) is empowered to set aside and remand assessments made under Section 144 to the AO under Section 251(1)(a) of the Income Tax Act.
ITAT Chandigarh upheld CIT(A)’s order deleting AO’s additions on depreciation, excess stock, and gross profit, confirming machinery was in use and books were reliable.
The Tribunal permitted withdrawal after the appellant cited an inadvertent error and confirmed that a fresh appeal was already pending. The case was dismissed as withdrawn.
The Gujarat High Court held that a notice issued under Section 148A(b) was procedurally flawed as it functioned as a Section 148A(a) inquiry. The notice, order under Section 148A(d), and subsequent notice under Section 148 were quashed.
The Tribunal found that hearing notices were sent to the wrong email address, resulting in an ex-parte order. The matter was remanded to the AO after directing the assessee to deposit ₹5,000 as costs.
The Court held that the search was valid after reviewing the recorded reasons and information. It ruled that jurisdiction existed under Section 132 and that challenges to procedural aspects did not invalidate the search.
Court confirms that income from resale of immovable property is taxable under Finance Act 1994. Extended limitation period and penalties remain valid.
The Allahabad High Court ruled that a GST penalty under section 129(3) cannot be imposed for non-filing of Part-B of an e-way bill caused by a technical glitch without intent to evade tax.
