Ahmedabad ITAT rules in favor of Mehsana Urban Co-op. Bank Ltd., stating AO’s incorrect calculation isn’t failure to disclose, thus invalidating assessment reopening beyond 4 years.
In the case of SVT Wholesale Pvt. Ltd. Vs JCIT, the ITAT Bangalore evaluates the penalty imposed under Section 271D for violating Section 269SS of the Income Tax Act, 1961. Learn about the legal arguments, precedents, and the tribunal’s decision.
Read a detailed analysis of the NCLT judgment in Tek Chand Narula vs Vatika Ltd. Understand the dispute over assured returns and the implications of the BUDS Act.
Karnataka High Court considers income variations in compensation assessment. Detailed analysis of Jayashree Vs Mahaningappa & Others case with judgment highlights.
Read a detailed analysis of the case of DCIT vs. Flax Apparels Pvt. Ltd. where ITAT Ahmedabad ruled that Section 43B of the Income Tax Act, 1961 doesn’t apply when payment precedes the claim of expenditure.
Read the full text of the ITAT Chandigarh’s decision in the case of Manuj Jain HUF Vs PCIT. The assessment order was upheld, rejecting the Section 263 revision regarding demonetization cash deposits.
Ahmedabad ITAT ruled that vehicles used for business purposes, even if owned by directors, are eligible for depreciation. Case analysis of Mukesh Trends Lifestyle Limited Vs DCIT.
Read the detailed analysis of the Delhi High Court judgment upholding penalties under Sections 112(a) & 112(b) of the Customs Act on Rameshwar Tiwari for smuggling gold.
Chennai ITAT ruled that receiving a huge sale consideration in cash violates Sec 269SS, warranting penalty under Sec 271D. Case analysis of Nammalvar Lingusamy Vs ACIT.
Delhi ITAT ruled that to claim capital gains benefit under Sec 54, taxpayers must acquire a residential house within three years from the date of old house transfer. Analysis of Mohan Lal Jain case.
