Udumalpet Sarvodaya Sangham Vs The Authority (Madras High Court) The Hon’ble Madras High Court in the case of Udamalpet Sarvodaya Sangham v. The Authority & Ors [W.P. (MD). Nos. 26481, 25801, 25855, 25979, 25773, 25952, 27362, 27363, 27357 to 27361 27869 & 27190 of 2024 dated January 06, 2025] allows the writ petition where it […]
ITAT Bangalore held that non-granting of accumulation of income under section 11(2) due to delay in filing Form 10 not justified since delay was condoned by appropriate authority. Accordingly, appeal allowed in favour of assessee.
Siemens Healthcare Pvt Ltd Vs Union of India & Ors. (Delhi High Court) Writ petition was filed due to reason that ongoing audit was transferred to Anti-evasion wing of CGST Commissionerate and a show cause notice was also issued by Anti-evasion Wing. No such power were conferred by the statute. Time was granted to respondent […]
It was submitted of behalf of assessee that the appeal filed by the Revenue is hit by recently issued CBDT Circular No.09 of 2024 dated 17.09.2024 revising the previous thresholds pertaining to tax effects.
In the matter abovementioned ITAT Delhi vitiated penalty proceedings after examining that non mentioning of charge for which penalty is to be levied makes the notice as much defective as non striking of irrelevant clauses in the notice.
In the matter abovementioned ITAT deleted addition made on account of undisclosed cash deposits during demonetization period after observing that assessee has substantiate means of income for depositing cash.
IT Department during demonetization (from November 9, 2016, to December 30,2016) identified various individuals who had deposited substantial sums of cash, under the initiative “Operation Clean Money”.
Assessee, had filed an Insolvency Petition under section 10 of the Provisional Insolvency Act, seeking to be declared insolvent due to heavy business losses incurred in his tobacco trade.
Aggrieved by this order, assessee filed an appeal before Tribunal. It was held that CIT(E) had not examined the objects and activities of assessee trust which were the twin conditions for granting registration under Section 12A/12AB
ITAT Ahmedabad held that addition u/s. 56(2)(vii)(b)(ii) of the Income Tax Act justified due to difference stamp duty value of the property and sale consideration. Accordingly, appeal of the assessee allowed.
