Judgement

The tribunal highlighted that in cases where the additions are made on the basis of third-party data like AIR, the assessee must be given the relevant information to respond properly.

No Assessment on basis of AIR database without giving primary information to Assessee: ITAT

The Gujarat High Court cancels Rs. 3.17 crore penalty, holding that a wrong or debatable tax claim is not “concealment” under Section 271(1)(c).

Gujarat High Court Quashes Rs. 3.17 Crore Penalty; Says Wrong Claim Is Not Concealment

HC quashes GST demand order after finding the department wrongly classified Stock and and business premises Insurance as Motor Vehicle Cover. Says, Section 17(5) applies only to motor vehicle insurance

ITC Cannot Be Denied for Stock and business premises Insurance; GST Department reprimanded for wrong interpretation of Section 17(5)

Tribunal sends matter back to AO after assessee produces Auto-Sweep account for the first time, which may alter the core factual findings

ITAT Ahmedabad Remands Addition of Rs. 1.70 Crore as Unexplained Investment for Fresh Verification

ITAT Delhi ruled that capital losses can be set off against long-term capital gains despite differing tax rates, quashing CPC and CIT(A)’s additions and restoring the taxpayer’s original income.

ITAT Delhi Quashes CPC’s Rs. 25 Lakh Addition; Allows Set-Off of STCL and LTCL Against Long-Term Gains

ITAT Mumbai, has ruled in favour of an HUF, reducing the disallowance on exempt income and clarifying the nature of the refund of an advance payment made by the HUF to its Karta.

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No Assessment on basis of AIR database without giving primary information to Assessee: ITAT

Gujarat High Court Quashes Rs. 3.17 Crore Penalty; Says Wrong Claim Is Not Concealment

ITC Cannot Be Denied for Stock and business premises Insurance; GST Department reprimanded for wrong interpretation of Section 17(5)

ITAT Ahmedabad Remands Addition of Rs. 1.70 Crore as Unexplained Investment for Fresh Verification

ITAT Delhi Quashes CPC’s Rs. 25 Lakh Addition; Allows Set-Off of STCL and LTCL Against Long-Term Gains

Receipt Remains Capital or Revenue Regardless of Utilisation: ITAT