Judgement

ITAT partly allowed the Revenue’s appeal against the assessee, upholding the Rs. 10.44 lakh cash-gift addition while deleting the other additions.

Cash Gift on Marriage Anniversary Backfires: ITAT Confirms Tax Addition

Shaving foam taxable at 18%; concessional 5% rate restricted to shaving cream, shaving lotion and aftershave lotion.

AAR: Shaving Foam Not Same as Shaving Cream; 5% GST Limited to Cream, Lotion & Aftershave

The ITAT examined the case and observed that the assessee had provided all the required documentary evidence, which clearly showed the movement of goods.

Purchases Cannot Be Held Bogus if Assessee Files All Documentary Evidence: ITAT

Purchases Cannot Be Held Bogus if Assesse Files all Documentary Evidences: ITAT

The HC upheld the ED’s attachment of Appellant’s Delhi property as “equivalent value” under the PMLA, affirming that even inherited assets can be attached if linked to untraceable proceeds of crime.

No Special Immunity to Inherited Assets Under PMLA: High Court Clarifies

The ITAT quashed an NFAC assessment framed prior to the operational notification of the faceless scheme and consequently deleted the Rs. 1.54 crore penalty.

ITAT Kolkata Rules Pre-Notification Faceless Assessment Invalid; Rs. 1.54 Crore Penalty Deleted

Once income is duly established through Income Tax Returns, no further proof is required, rules Court while correcting negligent computation by Tribunal.

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Cash Gift on Marriage Anniversary Backfires: ITAT Confirms Tax Addition

AAR: Shaving Foam Not Same as Shaving Cream; 5% GST Limited to Cream, Lotion & Aftershave

Purchases Cannot Be Held Bogus if Assesse Files all Documentary Evidences: ITAT

No Special Immunity to Inherited Assets Under PMLA: High Court Clarifies

ITAT Kolkata Rules Pre-Notification Faceless Assessment Invalid; Rs. 1.54 Crore Penalty Deleted

ITR Is Sufficient Proof of Income: HC Enhances Motor Accident Compensation After ITR Was Ignored