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ITAT allows taxation of excess stock & unexplained marriage expenses as business Income

Case Name : Santhilal Jain Vijay Kumar Vs ITO (ITAT Chennai)
Appeal Number : ITA No.1103/Chny/2022
Date of Judgement/Order : 30/08/2023
Related Assessment Year : 2018-19
Courts : All ITAT (14928) ITAT Chennai (851)
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Reopening a case does not require final proof of suppression but rather prima facie material

Case Name : Jugal Kishore Lohiya Vs Principal Chief Commissioner of Income Tax (Rajasthan High Court)
Appeal Number : D.B. Civil Writ Petition No. 8429/2023
Date of Judgement/Order : 04/08/2023
Related Assessment Year :
Courts : All High Courts (13909) Rajasthan High Court (377)
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Alleged circular transactions & Bogus Invoicing: HC upheld validity of reassessment proceedings

Case Name : Chetak Enterprises Ltd. Vs ACIT (Rajasthan High Court)
Appeal Number : D.B. Civil Writ Petition No. 7062/2022
Date of Judgement/Order : 20/03/2023
Related Assessment Year :
Courts : All High Courts (13909) Rajasthan High Court (377)
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Late Form 67 filing doesn’t invalidate foreign tax credit claim

Case Name : Vinodkumar Lakshmipathi Vs CIT(A) NFAC (ITAT Bangalore)
Appeal Number : ITA No. 680/Bang/2022
Date of Judgement/Order : 06/09/2022
Related Assessment Year : 2018-19
Courts : All ITAT (14928) ITAT Bangalore (1080)
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Disallowance post Form 10CCB filing is debatable & not permissible u/s 143(1)

Case Name : Surendra Steels Private Limited Vs DCIT (ITAT Kolkata)
Appeal Number : ITA No. 78/Kol/2022
Date of Judgement/Order : 20/05/2022
Related Assessment Year : 2019-20
Courts : All ITAT (14928) ITAT Kolkata (1032)
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Filing of Form 67 is procedural or directory requirement not a mandatory one

Case Name : Eastman Industries Ltd. Vs ACIT (ITAT Delhi)
Appeal Number : ITA No. 2990, 2991 & 2992/Del/2022
Date of Judgement/Order : 18/08/2023
Related Assessment Year : 2018-19, 2019-20 & 2020-21
Courts : All High Courts (13909) Delhi High Court (3365)
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SC allows interest on funds given to subsidiaries out of interest free funds

Case Name : CIT Vs Reliance Industries Ltd (Supreme Court of India)
Appeal Number : Civil Appeal No. 10 of 2019
Date of Judgement/Order : 02/01/2019
Related Assessment Year : 2003-04, 2004-05, 2005-06 and 2006-07
Courts : Supreme Court of India (2371)
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LTCG on Shares: Assumptions without substantial evidence of error shouldn’t trigger action u/s 263

Case Name : Pooja Mittal Vs PCIT (ITAT Delhi)
Appeal Number : I.T.A. No.3755/DEL/2018
Date of Judgement/Order : 12/05/2023
Related Assessment Year : 2014-15
Courts : All ITAT (14928) ITAT Delhi (3703)
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Assessment not erroneous if AO adopts plausible view despite PCIT’s different opinion

Case Name : Darshan Shivlal Thakkar Vs PCIT (ITAT Ahmedabad)
Appeal Number : ITA No. 83/AHD/2022
Date of Judgement/Order : 30/06/2023
Related Assessment Year : 2013-14
Courts : All ITAT (14928) ITAT Ahmedabad (1124)
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On same observation & issue PCIT cannot direct to make enquiry what he deem fit

Case Name : Gaurav Purohit Vs PCIT (ITAT Jodhpur)
Appeal Number : I.T.A. No. 40/Jodh/2021
Date of Judgement/Order : 02/02/2024
Related Assessment Year : 2011-12
Courts : All ITAT (14928) ITAT Jodhpur (76)
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