ITAT Mumbai quashes PCIT’s Section 263 revision order, ruling AO had duly examined filing fee expenditure for share capital increase in original assessment, thus no error.
Madras High Court upheld the order stating cross-examination is unnecessary for statements meant to corroborate independent evidence in Annai Poly Packs case.
ITAT Jaipur upheld CIT(A)’s decision to delete bogus purchase additions, validating a 13.05% profit rate declared by the assessee in the case.
Gujarat HC ruled that Ultratech Cement’s SVLDRS penalty declaration is valid, clarifying that show cause notices don’t hinder eligibility for the scheme.
ITAT Ahmedabad excused non-compliance due to CA’s failure, remanding the case for verification of additional evidence related to cash deposits and investments.
ITAT Mumbai rules that shares bought off-market and later sold on stock exchanges with proof of genuine transactions cannot be treated as unexplained income.
Gujarat High Court rules that income tax recovery proceedings cannot proceed while appeals are pending before the CIT(A), impacting numerous taxpayers.
Bombay HC rules in favor of Kusharaj Bhandary, nullifying an assessment and penalty order due to TDS credit error. Outcome highlights rectification rights.
Orissa High Court rules that claims before the approval of a resolution plan are extinguished, reinforcing the IBC’s provisions for corporate debtors.
ITAT Delhi remands JCB India Ltd.’s ₹166.09 crore TP adjustment for non-UK royalty payments to TPO for fresh consideration.
