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Dumping of cart loads of documents does not shift burden of proof to revenue

June 30, 2024 15 Views 0 comment Print

Read the full text of the ITAT Kolkata order on Bisakha Sales Pvt. Ltd. Vs CIT, covering assessment year 2008-09. Explore the appeal, arguments, and conclusions in this detailed analysis.

ITAT Kolkata deletes Addition for Share Capital of Rs. 1.54 Crore

June 30, 2024 24 Views 0 comment Print

Explore the detailed analysis of ITO Vs Axisline Investment Consultants Pvt. Ltd. case where ITAT Kolkata deleted Rs. 1.54 crore addition for share capital under Section 68.

Share application amount cannot be added twice in payees & recipients’ hands u/s 68  

June 30, 2024 21 Views 0 comment Print

ITAT Kolkata held in ITO Vs Happy Structure Pvt. Ltd.  that share application amount cannot be added twice under Section 68 of Income Tax Act in in payees & recipients’ hands u/s 68  

Section 68 addition based on conjectures & surmises not justified: ITAT Kolkata

June 30, 2024 24 Views 0 comment Print

Satyam Smertex pvt. Ltd. Vs DCIT (ITAT Kolkata): Addition made by AO and confirmed by CIT(A) are based on conjectures and surmises, so their impugned action cannot be justified.

Validity of Section 148 notice by Jurisdictional AO instead of Faceless AO

June 29, 2024 2262 Views 0 comment Print

Analysis of Swarn Singh Vs ITO (ITAT Amritsar) on validity of notice u/s 148 by Jurisdictional Assessing Officer (JAO) vs Faceless Assessing Officer. Key rulings discussed.

Gujarat HC Grants Relief against Coercive Tax Recovery by GST Department

June 29, 2024 309 Views 0 comment Print

The Gujarat High Court granted interim relief to P.R. Trading, halting coercive GST recovery labeled as voluntary. The matter is set for hearing on July 1, 2024.

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

June 29, 2024 387 Views 0 comment Print

Discover the ITAT Chennai verdict on Santhilal Jain Vijay Kumar Vs ITO, addressing taxation on excess stock and unexplained marriage expenses. Read the full case analysis.

Reopening a case does not require final proof of suppression but rather prima facie material

June 29, 2024 273 Views 0 comment Print

Read the detailed analysis of the Rajasthan High Court’s judgment in Jugal Kishore Lohiya vs Principal Chief Commissioner of Income Tax, focusing on Sections 148 and 148A.

Alleged circular transactions & Bogus Invoicing: HC upheld validity of reassessment proceedings

June 29, 2024 747 Views 0 comment Print

Explore the detailed analysis of Chetak Enterprises Ltd. Vs ACIT Rajasthan High Court judgment on reopening assessments under Section 148A of the Income Tax Act. Understand the implications and legal nuances.

Late Form 67 filing doesn’t invalidate foreign tax credit claim

June 27, 2024 306 Views 0 comment Print

Explore the detailed analysis of Vinodkumar Lakshmipathi appeal against CIT(A) NFAC regarding foreign tax credit disallowance for AY 2018-19. Understand the implications and legal nuances.

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