ITAT ruled that enhancement of income under section 251 without giving the assessee a proper hearing is invalid. The appeals were remanded to CIT(A) for fresh adjudication.
ITAT held that Section 50C proviso is retrospective, allowing stamp duty value as on the agreement date where consideration was fixed earlier, significantly reducing LTCG exposure.
The tribunal held that mere absence of substantial activities since inception is not conclusive where charitable objects are genuine. A fresh opportunity must be granted to substantiate activities with evidence.
The tribunal held that reassessment beyond three years is invalid when alleged escaped income is below Rs. 50 lakh. Notices issued contrary to section 149 after the 2021 amendments were quashed for lack of jurisdiction.
The High Court held that the Tribunal misapplied the law on presumptions under Sections 132(4A) and 292C by wrongly shifting the burden to the Revenue. The matter was remanded for fresh adjudication.
The Court upheld GST tax and penalty where multiple goods were transported without invoices or E-way bills. Subsequent production of documents at the appellate stage was held insufficient to cure defects found during inspection.
The tribunal accepted the DGAP report after the respondent agreed without objection to its findings. The ruling concludes the case with a direction to pass the remaining ITC benefit to eligible homebuyers.
The tribunal held that invoking Section 115BBE on survey-related excess stock was legally unsustainable for AY 2015-16. The addition was therefore liable to be taxed at normal rates.
The ITAT held that late filing of Form 67 cannot defeat a valid FTC claim. The ruling clarifies that procedural delays do not override substantive treaty rights.
The tribunal held that non-filing of return within the due date disentitled the assessee from deduction under section 80P due to section 80AC. Consequently, lower profit claims based on accounts were rejected.
