Tribunal emphasized that unilateral claims for commission and interest from CPRPL are insufficient to attract tax. Taxable income arises only when amounts are truly payable or received.
The petitioner challenged an Income Tax Order under Sections 144/144B for failure to respond to notices. The Madras HC allowed a fresh opportunity to submit replies and documents, directing compliance and a charitable payment.
The appellate tribunal restrained the bank from taking physical possession of the property until disposal of the pending application or the three-month period, ensuring fair treatment of the appellant.
The Tribunal held that a cash ledger found during a third-party search could not trigger Section 153C when the assessee’s name was absent. It ruled that additions fail without a direct link to the assessee.
The Tribunal held that the Stainless Steel Products (Quality Control) Order, 2016 was not in force at the time of shipment in January 2017. The import was cleared as BIS marking was not required, setting aside previous confiscation orders.
High Court directs authorities to investigate sale of frozen chicken at 0% GST instead of 5%, ensuring enforcement action against potential tax evasion.
ITAT Jaipur dismissed the appeal as time-barred since it was filed 317 days late. The affidavit filed lacked sufficient cause, proper verification, and supporting evidence, leading to rejection of the condonation application.
High Court dismisses writ petition alleging SOP breach in faceless assessment, advising the taxpayer to seek remedy through the statutory appellate process under the Income Tax Act.
ITAT held that Section 263 cannot be invoked when the AO has already examined the issues and applied his mind. Key takeaway: Mere preference for deeper enquiry does not make an assessment erroneous.
The Court confirmed that the Joint Commissioner could not rectify another authority’s order under Section 74, and the petitioner must use statutory appeal mechanisms.
