Tribunal held that TDS liability under section 194-IA cannot arise unless Revenue proves that payment was actually made. Mere third-party statements were found insufficient to treat buyer as an assessee in default.
Purchase Date Doubts Not Enough to Deny LTCG Exemption: ITAT Mumbai held that transfer dates shown in share certificates satisfied the statutory holding requirement.
The Tribunal held that statements recorded during investigation were inadmissible as mandatory procedures under Section 138B were not followed. Without valid evidence, confiscation and penalties were set aside.
The Tribunal held that deduction under section 80P cannot be allowed without a timely return but restored the matter to enable condonation under the CBDT circular.
The Tribunal set aside the interest disallowance after noting that the underlying loan genuineness issue was already remanded for fresh adjudication, requiring reconsideration by the Assessing Officer.
The appellate order was quashed as the appeal was dismissed solely for non-appearance without examining the grounds or recording reasons. The case was remanded for fresh adjudication in line with statutory requirements.
The Tribunal upheld the statutory bar on late-filed returns but restored the matter to allow the assessee to seek condonation under the CBDT circular.
The case examined whether a reassessment notice issued after the Ashish Agarwal procedure complied with limitation rules. The court held the notice time-barred as it exceeded the surviving period under TOLA and quashed all proceedings.
The Kerala High Court granted bail in a vigilance bribery case, noting prolonged custody and that the investigation was practically over. The Court reaffirmed that bail should not be denied merely due to the seriousness of allegations.
The Tribunal set aside the disallowance of interest after noting fresh evidence indicating business utilisation of borrowed funds. The matter was remanded for reconsideration with an opportunity to substantiate the claim.
