ITAT Pune rules against AO’s profit estimation for Ambience Greendale, citing faulty comparison and no book rejection. ₹5.82 Cr addition deleted.
ITAT Ahmedabad grants relief to Oswal Extrusion Ltd. on interest disallowance for advances to sister concerns, ordering verification of funds flow.
ITAT Mumbai dismisses revenue’s appeal, upholds NFAC order restricting additions for alleged bogus purchases based on Bombay HC precedents.
Tax tribunal rules NIIT Ltd. can deduct finance lease principal payments as revenue expense; penalty appeal sent back for detailed review.
Delhi HC Quashes Reassessment Due to Change of Opinion and absence of failure on the part of the assessee to disclose fully and truly all material particulars necessary for assessment.
India’s Supreme Court upholds High Court ruling, quashing tax re-opening notice for Marico Ltd. citing impermissible change of opinion on scrutinised issue.
Faridabad court denies bail to accused in ₹23.66 crore GST fraud case, citing gravity of economic offence and risk of tampering with evidence.
ITAT Ahmedabad validates AO’s 20.97% gross profit estimation for road contractor Sarandhar Gupta due to unverifiable cash transactions
ITAT upholds AO’s 20.97% gross profit estimation for Sarandhar Gupta due to unverifiable cash expenses in road contracting business.
ITAT Kolkata rules assessment void due to non-issuance of mandatory notice u/s 143(2) in Sandip Kumar Keshari Vs ITO case.
