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Judiciary

Deposits Wrongly Clubbed with Share Capital – Tribunal Quashes NFAC Order

September 24, 2025 315 Views 0 comment Print

The Cochin ITAT has set aside a Rs.35.05 crore income addition to Keezhuparamba Service Co-operative Bank. The court remanded the matter for fresh verification, noting that the Assessing Officer mistakenly clubbed members’ deposits with share capital.

Cochin ITAT Restores 68 Addition on Capital Account to AO for Fresh Verification

September 24, 2025 312 Views 0 comment Print

The Cochin ITAT has set aside an addition under Section 68, ruling that a taxpayer’s claim of transferring funds from a housing loan to a capital account requires further verification. The court remanded the matter back to the Assessing Officer.

Technical Delays Cannot Deny Substantive Justice – CIT(A) Must Hear Appeals on Merits

September 24, 2025 432 Views 0 comment Print

ITAT Raipur, in case of Manish Kumar Jain vs. ITO, ruled that Commissioner of Income Tax (Appeals) cannot summarily dismiss an appeal based solely on a delay.

Reassessment u/s. 148 on same ground already considered by AO cannot be sustained

September 24, 2025 492 Views 0 comment Print

Gujarat High Court held that the proceedings under Section 148 of the Income Tax Act cannot be initiated to review the earlier stand adopted by the Assessing Officer. Accordingly, initiation of reassessment proceedings u/s. 148A(d) on the same ground which is already considered by AO cannot be sustained.

Joint Property Sale: Full TDS Credit Must Be Allowed If Deducted in Assessee’s Name

September 24, 2025 921 Views 0 comment Print

The ITAT Pune ruled in the case of Nanasaheb Bhagawan Sasar vs. ITO that an assessee is entitled to a full Tax Deducted at Source (TDS) credit, even if the buyer mistakenly deducted the entire amount in the assessee’s name for a joint property sale.

ITAT Rajkot Deletes ₹65 Lakh Addition Against Farmer, Accepts Compensation as Source

September 24, 2025 477 Views 0 comment Print

Rajkot Bench of ITAT granted relief to a farmer by deleting an addition for unexplained investment, holding that land purchase was funded by compensation from Reliance Infrastructure.

Delhi HC Stops Coercive GST Refund Recovery Until GSTAT Becomes Functional

September 24, 2025 519 Views 0 comment Print

Delhi High Court stops GST authorities from recovering a refund from Ikiraon Technologies Pvt. Ltd. The court’s order protects the company until the GST Appellate Tribunal is operational.

Workmen not worked after layoff notice are not entitled for wages of that period

September 24, 2025 552 Views 0 comment Print

NCLAT Delhi held that claim of wages and salaries after the issuance of the layoff notice rightly rejected since the appellant workmen due to issuance of the layoff notice has not worked after issuance of this layoff notice. Accordingly, appeal dismissed.

Written agreement not mandatory to prove existence of financial debt

September 24, 2025 897 Views 0 comment Print

NCLAT Delhi Held that a written agreement is not a condition precedent to prove the existence of a financial debt. Accordingly, CIRP application u/s. 7 of IBC duly admitted as debt and default proved.

Exemption u/s 11 and 12 could not be denied to Charitable Trust if Audit Report was filed by extended due date even if after the filing of ITR

September 24, 2025 1500 Views 0 comment Print

Both return and Form 10B were filed within extended due date (31.10.2018). Thus, substantive compliance was achieved. Filing of audit report after the return but before expiry of due date could not be construed as fatal non-compliance.

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