Judgement

ITAT quashed reassessment proceedings against appellant after holding that a Section 148 notice delivered on 1 April 2021 could not be issued under the old reassessment law.

ITAT: Reassessment Notice Delivered After April 1, 2021 Invalid Under Old Law

The ITAT Delhi deletes most additions related to unexplained cash deposits, holding that once sales were accepted, the related cash deposits could not be treated entirely as unexplained income.

Once Sales Intially Accepted, Related Cash Desposits Cannot be Treated Entirely Unexplained: ITAT

The Delhi High Court grants compensation for the delayed release of seized KVPs and IVPs by the department.

Delhi High Court Awards Compensation for Delayed Release of Seized KVPs

The Delhi High Court quashes ad hoc disallowance of car and telephone expenses against the company assessee.

Delhi HC Rules Against Arbitrary Disallowance of Corporate Business Expenses

ITAT Bangalore holds bonus shares need not automatically assume stock-in-trade character for taxation purposes.

ITAT Bangalore Allows Exempt LTCG on Sale of Infosys Bonus Shares

ITAT quashes reassessment initiated beyond four years without fresh tangible material or disclosure failure.

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ITAT: Reassessment Notice Delivered After April 1, 2021 Invalid Under Old Law

Once Sales Intially Accepted, Related Cash Desposits Cannot be Treated Entirely Unexplained: ITAT

Delhi High Court Awards Compensation for Delayed Release of Seized KVPs

Delhi HC Rules Against Arbitrary Disallowance of Corporate Business Expenses

ITAT Bangalore Allows Exempt LTCG on Sale of Infosys Bonus Shares

ITAT Rejects Revenue Appeal Against Electrotherm in Section 147 Reopening Dispute