The tribunal reversed the CIT(A)’s decision for wrongly quashing assessment due to lack of notice under Section 143(2). It held that Section 263 proceedings are a continuation of original assessment.
The issue was whether multiple medical bills constituted a single transaction under Section 269ST. The Tribunal held that separately billed services are independent transactions, so penalty was not justified.
The case examined whether the accused could disprove liability under Section 138. The court upheld conviction as the presumption remained unrebutted and evidence supported the complainant’s claim.
The authority analysed whether an industrial plant is movable or immovable. It held that the plant, installed for long-term use and not marketable as a whole, is immovable property. Consequently, ITC on related inputs was denied.
The ruling holds that deposits made from surplus business funds are part of operational activity. Interest earned on such deposits is business income and not income from other sources. Therefore, Section 80P benefit was granted.
The issue was whether a succession certificate granted without impleading a minor heir was valid. The Supreme Court set aside the ex parte order, holding denial of hearing to a minor vitiates proceedings.
The case examines whether penalty can be levied when the quantum issue is admitted by the High Court. The Tribunal held that admission of substantial questions of law makes the issue debatable. As a result, penalty under Section 271(1)(c) was rightly deleted.
The issue was denial of deduction under Section 54F as a fresh claim not made in return. The ruling remanded the matter, holding such claims can be examined if supported by facts.
The issue was whether full bank deposits of a commission agent can be taxed as unexplained income. The ruling held only commission income taxable, with 8% estimation upheld as reasonable.
The issue was whether reassessment beyond 3 years is valid when escaped income is below ₹50 lakh. The ruling held such notice invalid under Section 149, and the key takeaway is strict adherence to limitation rules.
