ITAT Delhi held that addition based on reliance placed on third party statement without any corroborated evidence is not sustainable in law. Accordingly, issue restored to AO for de novo adjudication.
Delhi High Court held that rejection of Merchandise Exports from India Scheme (MEIS) benefit merely because amended shipping bills were not being reflected on the automates is unjustifiable. Accordingly, MEIS benefit claim allowed.
Understand the ITAT Chennai ruling on valid claims for Long-Term Capital Gains. Learn the tax implications of property sale, liabilities, and deductions under Section 48.
Bombay HC allows refund of ₹78.65 lakhs in stamp duty, despite delay in filing. Court prioritizes substantive justice over technical lapses in cancellation case.
ITAT Bangalore directed AO that claim in respect of interest on fixed deposits if any is not allowed u/s. 80P(2)(d) of the Income Tax Act has to be considered in accordance with law by allowing the expenditure u/s. 57 of the Income Tax Act.
ITAT Mumbai finds the reopening of Allied Engineers’ assessment invalid, ruling the addition of alleged bogus purchases unjustified. Case closed.
ITAT Chennai overturns addition of Rs. 28.57 Lacs for cash deposits by Gouthamchand Jain, ruling the source as valid and directing a reassessment.
The court found that the delay was not intentional but resulted from the notices being uploaded online without hard copies being served. Considering these factors and the submission that the delay was due to bona fide reasons, the High Court decided to condone the delay.
Calcutta High Court sets aside ITAT order in Mirabelle Tradecom case, allowing the assessee another opportunity to contest the matter. Read the case details.
ITAT Kolkata remands case of Daroga Family Foundation to reconsider condonation of delay in filing Form-10B due to COVID-19. The delay caused denial of tax exemption.
