ITAT Chennai quashed a reassessment notice under Section 148, holding that an Assessing Officer cannot reopen an assessment based solely on a change of opinion without fresh tangible material. This safeguards taxpayers from arbitrary reassessments.
The Tribunal ruled that issuing a Section 143(2) notice before communicating reasons for reopening deprives the assessee of its statutory right to object. This violation invalidated the entire reassessment for the second year. The decision underscores that procedural fairness in reopening is a statutory mandate, not optional.
The court ruled that requiring an Assistant Registrar’s recommendation for stamp duty exemption under Section 9A is unnecessary. The statutory registration certificate itself suffices, making the Memo issued by the Principal Secretary illegal.
The Court ruled that failing to repay a loan does not amount to cheating without proof of fraudulent intent at inception, quashing the FIR and reaffirming that civil disputes cannot be criminalized.
The Court held that loan transactions create only a debtor–creditor relationship, not entrustment, and thus no offence under Section 406 IPC was made out, quashing the criminal proceedings.
ITAT Delhi rules that delay in uploading Form 10CCB is procedural, not substantive. Start-ups can claim 80IAC deduction if the audit is completed on time and filed before assessment completion.
The Court held that delayed TDS deposit and the petitioner’s role as Managing Director raise factual issues requiring trial, rejecting the plea for quashing.
The Tribunal found that the JDA did not satisfy the statutory requirements of section 53A since possession was given only for limited development and no consideration was paid. Consequently, no transfer occurred under section 2(47), and capital gains could not be taxed for that year. The addition of ₹3,65,904 was directed to be deleted.
ITAT Delhi held that rebate and concession in fees to poor student claimed as donation is in accordance with object of the trust and hence deletion of disallowance of donation by CIT(A) is justifiable. Accordingly, appeal of revenue dismissed.
Tripura High Court held that an order accepting bond under section 88 of the Code of Criminal Procedure [CrPC]from the accused doesn’t amount to a grant of bail. Accordingly, the present bail application is disposed of.
