Judgement

ITAT Ahmedabad quashed the reassessment against the assessee for lack of nexus, deleting the Rs. 94.50 lakh addition as unsustainable in law and on facts.

Additions Based on Third-Party Statements Not Sustainable: ITAT

HC allows seizure challenges; holding confiscation proceedings cannot bar contesting the legality of the initial seizure.

HC Restores Right to Contest Seizure in Ongoing Confiscation Proceedings

The AAAR upheld the Gujarat High Court's ruling holding that geomembranes made from HDPE strips are classified under HSN 5911.

Geomembranes Made from HDPE Strips Fall Under HSN 5911: AAAR Rejects Department's Appeal

The Tribunal held that Section 144C is a complete code and it first requires the AO to issue a draft assessment order to the eligible assessee.

ITAT Delhi: AO Must First Issue Draft Assessment to Eligible Assessee Under Section 144C

The ITAT granted partial relief to Co-Op Bank by invalidating Section 154 rectification on a debatable STCG set-off issue and allowing deduction of bad debts written off in the normal course of banking business.

Taxpayer not required to prove irrecoverability for claiming bad debts written off from books: ITAT

The tribunal held that there was no misreporting or underreporting of income, and in such a case, the penalty under section 270A of the Act cannot be levied.

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Additions Based on Third-Party Statements Not Sustainable: ITAT

HC Restores Right to Contest Seizure in Ongoing Confiscation Proceedings

Geomembranes Made from HDPE Strips Fall Under HSN 5911: AAAR Rejects Department's Appeal

ITAT Delhi: AO Must First Issue Draft Assessment to Eligible Assessee Under Section 144C

Taxpayer not required to prove irrecoverability for claiming bad debts written off from books: ITAT

ITAT: Section 270A Penalty Cannot be Levied If AO Fails to Specify Misreporting Clause