The failure of assessee to make the requisite disclosures in Schedule D would neither detract from the relief which had been accorded by AO nor change the factum of carry forward and set off as forming part of the assessment order.
Kerala High Court directed to give one final opportunity to the petitioner to respond to show cause notice as show cause notice granted only three days time to respond.
ITAT Visakhapatnam held that dismissal of appeal and passing of ex-parte order by CIT(A) in absence of any response on behalf of the assessee untenable since CIT(A) failed to decide the case on merits.
ITAT Visakhapatnam remanded the matter back to CIT(A) for fresh consideration since CIT(A) passed ex-parte order as there was on response on behalf of the assessee.
J&K High Court dismissed plea by Sudhir Power Ltd. challenging withdrawal of Budgetary Support Scheme, stating no violation of doctrines of promissory estoppel or expectations.
ITAT Surat condoned the delay of 159 days in filing of an appeal as delay in filing appeal is not intentional nor deliberate and assessee was prevented by sufficient reason for not filing an appeal on time.
Directors/ signatories cannot escape from their penal liability by citing its dissolution, only the accused company is dissolved and director/signatory cannot be permitted to go scot-free after the approval of resolution plan.
Madras High Court held that order passed rejecting the claim of Input Tax Credit on the basis of the web report set aside for fresh consideration since order was passed without complying with procedure stipulated in circular no. 5/2021 dated 24.02.2021.
ITAT Ahmedabad held that interest on loans and advance to small advances on debit/ credit balances of suppliers and contractors are incidental to business hence taxable as business income and not as income from other sources.
ITAT Kolkata ruled that penalties under Section 140A(3) are not applicable for non-payment of taxes on self-assessed income post-AY 1989-90.
