ITAT Surat partially upholds cash addition for Arjunsinh Thakor but reduces taxable amount and applies pre-amendment tax rates under Section 115BBE.
ITAT Jabalpur rules on excess stock as undisclosed income and sets tax rates for survey income and cash credits, citing Vatika Township precedent.
Bombay High Court sets aside Sulzer Pumps’ assessment order, citing pending DRP reference and procedural requirements under Section 144C of the Income Tax Act.
Bombay High Court nullifies OmniActive’s assessment order, citing procedural lapse by AO and pending DRP objections under Section 144C.
Kerala High Court rules WhatsApp service invalid for CGST Act Section 130 confiscation notices, emphasizing mandatory statutory modes for due process.
ITAT Mumbai dismisses Revenue’s appeal against Thirumalai Marketing & Investments Ltd., upholding the assessee’s proof of the lender’s identity and creditworthiness for a Rs. 5 crore loan.
Bangalore ITAT remands Om Prakash Girgaonkar’s appeal to AO, citing potential double addition on property purchase and unverified cash deposits.
ITAT Mumbai held that depreciation of amalgamating company cannot be disallowed merely for non-filing of Form No. 62 which is only directory. Thus, non-compliance of the same would not disentitle the assessee to claim carry forward losses to be set off. Accordingly, appeal allowed.
ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act justified since PCIT correctly observed that the very basis of disallowance of depreciation was on an incorrect understanding of the facts by AO. Accordingly, revision order upheld.
ITAT Delhi held that claim of interest u/s. 24b of the Income Tax Act was duly examined during original as well as reassessment proceedings. Thus, the plausible view having been taken by the AO cannot be held to be prejudicial to the interests of Revenue.
