Tribunal ruled that non-deposit in Capital Gains Account does not bar 54F relief if funds are used for construction within Section 139(4) timeline.
Investigation findings are not binding on GST adjudicating authority, and to be decided through proper adjudication: Madhya Pradesh High Court
The ITAT Bangalore has deleted a ₹27 lakh addition to a wife’s income, ruling it was double taxation as her husband had already declared the full capital gains.
Mumbai ITAT rules 10% tolerance limit under Section 50C is retrospective from 2003, deleting an addition. It also allows deduction for stamp duty paid by seller.
Cochin ITAT remanded ₹25 lakh addition, holding CIT(A) erred by invoking Section 68 without notice. Matter sent back for fresh adjudication after hearing assessee.
Delhi High Court ruled that a penalty under Section 271E was time-barred, clarifying that limitation period begins with Assessing Officer’s initiation.
Ahmedabad ITAT deletes a penalty under Section 270A for a deduction on education cess. The court ruled the claim was bona fide and not a case of misreporting.
ITAT Visakhapatnam held that assessment order passed under section 144 of the Income Tax Act without issuance of notice under section 143(2) is not sustainable and liable to be quashed since failure to issue notice u/s. 143(2) cannot be cured u/s. 292BB.
The ITAT Ahmedabad has deleted a Rs.5.21 crore addition to income, ruling that the reassessment was invalid due to a lack of independent verification of the evidence.
ITAT Jodhpur quashes a rectification order, ruling a CIT(A) cannot change a decision under the guise of rectifying a mistake apparent from the record.
