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Judiciary

Permission from PCIT instead of PCCIT for reassessment beyond three years is invalid

August 1, 2025 1071 Views 0 comment Print

ITAT Delhi held that permission of initiation of reassessment proceedings u/s. 148 of the Income Tax Act beyond the period of three years is to be obtained only from Pr. Chief Commissioner of Income Tax. Here, permission obtained from Pr. Commissioner of Income Tax is invalid.

SC Reworks Accident Liability, Increases Compensation for Amputee

August 1, 2025 939 Views 0 comment Print

Supreme Court enhances accident compensation to Rs. 91.39 lakh, increasing car driver’s liability for sudden braking and re-evaluating victim’s future earnings.

Addition u/s. 69A towards cash deposits deleted to the extent of accepted cash sales

August 1, 2025 813 Views 0 comment Print

ITAT Delhi held that addition under section 69A of the Income Tax Act towards cash deposited during demonetization period deleted to the extent of cash sales which is accepted. Accordingly, appeal partly allowed.

Revision order u/s. 263 quashed as AO took plausible view after proper application of mind

August 1, 2025 678 Views 0 comment Print

ITAT Mumbai held that revisionary order passed u/s. 263 of the Income Tax Act cannot be sustained to the extent AO duly examined the issue during scrutiny assessment proceedings and plausible view taken after proper application of mind.

No rejection in Transaction value by invoking rule 10A of Valuation Rules without revealing evidence of undervaluation

August 1, 2025 1053 Views 0 comment Print

An investigation was initiated by the Directorate of Revenue Intelligence, New Delhi on the import of silk-fabrics from China by other importers and the premises of M/s. Purnima Enterprises at Chennai and M/s. Om Fabrics at Bangalore were searched.

No Section 68 Addition for Alleged Bogus LTCG Without AO’s Independent Verification

July 31, 2025 3168 Views 0 comment Print

It was held that Long-term capital gains on sale of “penny” stocks could not be treated as bogus & unexplained cash credit if the documentation was in order & there was no allegation of manipulation by SEBI or the BSE.

No penalty u/s. 114 of Customs Act in absence of confiscation of goods: CESTAT Delhi

July 31, 2025 993 Views 0 comment Print

According to the department, the overvalued export was used by the exporter to fraudulently procure DEPB scrips from the Directorate General of Foreign Trade and subsequently these DEPB scrips were sold in the open market and were thereafter used by companies to import goods without payment of duty.

Penalty u/s. 114 of Customs Act deleted as confiscation of goods not sustained

July 31, 2025 714 Views 0 comment Print

CESTAT Delhi held that penalty u/s. 114 of the Customs Act can be levied only if the goods are held liable to confiscation u/s. 113 of the Customs Act. Here, as the confiscation cannot be sustained, penalty u/s. 114 of the Customs Act cannot also be sustained.

Religious label doesn’t disqualify Trust—Bangalore ITAT revives 12AB registration plea

July 31, 2025 1401 Views 0 comment Print

Bangalore ITAT revives a trust’s 12AB registration plea, stating that a religious label doesn’t disqualify a trust and directing fresh verification of charitable activities.

Rejection letter under section 154 is a valid order- ITAT restores appeal for fresh hearing

July 31, 2025 780 Views 0 comment Print

ITAT Bangalore rules that a rejection letter under Section 154 is an appealable order, directing the CIT(A) to hear the appeal on merits after it was dismissed on technical grounds.

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