Judgement

ITAT deleted the Rs. 6.15 lakh addition, holding that the AO relied only on general penny-stock reports without specific evidence.

ITAT Deletes Penny Stock Addition Due to Lack of Specific Evidence Against Assessee

ITAT deleted a penalty imposed on the company under Section 270A, holding that mere disallowance of EPF/ESI deduction does not amount to misreporting of income.

ITAT Deletes Rs. 5.28 Lakh Penalty, Rules EPF/ESI Disallowance Not ‘Misreporting’ Under Section 270A

Assessment orders passed on non-existent entities held void; Revenue free to initiate fresh proceedings against amalgamated company

SC Declines to Interfere With HC Ruling on Quashing Assessment on Amalgamated Companies

Notice u/s 148 held invalid as approval obtained from wrong authority; Revenue’s appeal dismissed as infructuous

ITAT Quashes Reopening Beyond 3 Years Where Escaped Income Was Rs. 10.25 Lakh

Cash consideration from temple workers treated as genuine transaction; reasonable cause under Section 273B accepted

ITAT Deletes Rs. 13.56 Lakh Penalty Under Section 271D; Cash Received on Flat Sale Held Bona Fide

Excess jewellery stock to be taxed only to extent actually reconciled and already offered in return

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

ITAT Deletes Penny Stock Addition Due to Lack of Specific Evidence Against Assessee

ITAT Deletes Rs. 5.28 Lakh Penalty, Rules EPF/ESI Disallowance Not ‘Misreporting’ Under Section 270A

SC Declines to Interfere With HC Ruling on Quashing Assessment on Amalgamated Companies

ITAT Quashes Reopening Beyond 3 Years Where Escaped Income Was Rs. 10.25 Lakh

ITAT Deletes Rs. 13.56 Lakh Penalty Under Section 271D; Cash Received on Flat Sale Held Bona Fide

ITAT Restricts Stock Addition to Rs. 19.46 Lakh; Survey Working Found Inflated