Judgement

The Tribunal cited previous judgements and held that the joint ownership at the time of sale of assets does not disqualify the assessee from claiming a deduction under Section 54F.

Joint Ownership of More than One Residential Property Does Not Disqualify Deduction Under Section 54F: ITAT

The court cited previous judgements, where it was concluded that if the machinery is being transferred from one unit to another and there is a mistake, it cannot be attributed to tax evasion as the sale is not involved.

Mistake in E-Way Bill During Stock Transfer Cannot Be Attributed to Tax Evasion: Allahabad HC

The Tribunal also cited various judgements, including the decision of the Hon'ble Apex Court in the case of Pr. CIT v. Shapoorji Pallonji and Co. Ltd.[2022] 141 taxmann.com 509/288 Taxman 661, which held that the assessing officer could not make any addition just based on suspicion

Assessing Officer Cannot Make Addition u/s 68 Based Solely on Suspicion: ITAT

Some Important Judgements On Income Tax, GST; IBC Other Corporate Laws

Some Important Judgements on Various Aspects of Insurance

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Joint Ownership of More than One Residential Property Does Not Disqualify Deduction Under Section 54F: ITAT

Mistake in E-Way Bill During Stock Transfer Cannot Be Attributed to Tax Evasion: Allahabad HC

Assessing Officer Cannot Make Addition u/s 68 Based Solely on Suspicion: ITAT

Some Important Judgements On Income Tax, GST; IBC Other Corporate Laws

Some Important Judgements on Various Aspects of Insurance