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.
The ITAT Bangalore has condoned a 353-day appeal delay and set aside an ex parte order, emphasizing that the cause of the delay matters more than its length.
Bombay High Court acquits an accused in a POCSO case, highlighting that DNA reports alone are not sufficient for conviction if the chain of custody is flawed.
ITAT Chennai held that arm’s length price of interest paid on Fully Compulsory Convertible Debentures [FCCDs] issued in Indian denominated currency is to be determined by adopting average SBI Prime Lending Rate [PLR].
ITAT Jodhpur rules that the CPC cannot deny an 80P deduction on belated returns for assessment years before 2021-22, as it lacked the authority under Section 143(1).
ITAT Mumbai has ruled that when sales are genuine but purchases are bogus, only the embedded profit, typically 3%, should be added to income. The tribunal dismissed a revenue appeal, confirming the principle that entire bogus purchases cannot be disallowed.
