Judgement

ITAT Hyderabad rules that capital contributions by partners cannot be taxed in the firm’s hands and must be assessed individually.

Unexplained credits appearing in partner capital accounts cannot be taxed in hands of firm: ITAT

Court holds that enhancement under Section 107(11) GST Act cannot be made without issuing mandatory show-cause notice

Allahabad HC Sets Aside GST Appeal Enhancement for Lack of Notice; Orders De Novo Hearing

The ITAT held that if the notices are issued by the AO one after another, asking for the same information, it will not multiply the default and would make a single default.

Non-compliance of Notice should be treated as single default in case of Multiple Notices on same issue: ITAT

ITAT upholds CIT(A)’s deletion of Rs.12.20 crore SBN-period cash deposit addition. Books were audited, stock matched, sales recorded, Section 68 addition held unsustainable.

ITAT Delhi Upholds CIT(A) Relief: Rs. 12.20 Crore Demonetisation Cash Deposit Addition Deleted

Since the notice was issued by the non-jurisdictional Assessing Officer, and the same was not resolved by the PCIT, the Tribunal set aside the revisional order.

PCIT Must Resolve Jurisdictional Objections Before Passing Revisionary Order: ITAT

Kerala High Court rules that interest paid on delayed Agricultural Income Tax is not deductible as a business expense under Section 37 of the Income Tax Act.

Explore Our Blogs

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

Unexplained credits appearing in partner capital accounts cannot be taxed in hands of firm: ITAT

Allahabad HC Sets Aside GST Appeal Enhancement for Lack of Notice; Orders De Novo Hearing

Non-compliance of Notice should be treated as single default in case of Multiple Notices on same issue: ITAT

ITAT Delhi Upholds CIT(A) Relief: Rs. 12.20 Crore Demonetisation Cash Deposit Addition Deleted

PCIT Must Resolve Jurisdictional Objections Before Passing Revisionary Order: ITAT

Interest on Delayed Agricultural Income Tax Not Deductible; Rules Kerala High Court