Case Laws
Case Laws
Where the assessee has duly explained the source of income of the parties from whom unsecured loans are...
Mrs. Nirmalaben C. Soni , vs ACIT
Facts of the caseThe assessee is engaged in the business of resale and job work of Gold and Silver Jewellery. The assessee, filed...
Income Tax
ITAT e-filing Portal to go live on 21 June 2021
ITAT has announced that e-filing portal will be launched for filing of appeal before the Income tax appellate tribunal.It has been mentioned that e-filing portal shall be live from 21.06.2021 but same shall be...
Case Laws
Where department has accepted repayment of loan in subsequent year, no addition can be made in current year on account of cash credit.
The ACIT Vs. Smt. Anuradha Anilkumar Agarwal
Facts of the case
Pertaining to Ground 1:The assessee has shown total purchases of Rs.8,27,50,188/- in respect of Finished Sarees, Grey and Border. According to the AO,...
Case Laws
When Assessing Officer admitted the genuineness of transaction in his Remand report, addition cannot be confirmed by CIT(A)
Sh. Mukesh Nanubhai Desai vs ACIT
Facts of the case
Assessee has earned exempt income of Rs. 8,67,79,658/- on account of Long term capital gain on which STT was paid exempt u/s 10(38) of Rs. 8,66,13,252/-...
Case Laws
Revision u/s 263 cannot be made on a issue which was never a part of the assessment order to be revised.
Nilkanth Developers vs PCIT - 3
Facts of the case
Assessment order u/s. 143(3) was passed
26.03.2013 for A.Y.2010-11 disallowing
deduction claimed u/s. 80IB(10) of Rs.1,25,78,872/-. The same was confirmed by
CIT(A) but on further appeal before ITAT,...
Case Laws
25 Latest Income Tax Judgements In India
The year 2019 has been a very significant one to the taxation regime as the government has introduced various revolutionary changes in the laws and rules and regulations.
The contribution of the...
High Court
Section 153(2) – Time limit for AO to complete assessment or reassessment – based on Case laws for calculating the time limit where writ...
1.Section 153 of the Income Tax Act provides the time limit to Assessing Officer within which the Assessing Officer has to complete the assessment or reassessment of the assessee. The matter will be time...
High Court
Gujarat high court explains the constitutional mandate of taxation.
A. Facts
In view of the judgment of the apex court, dated 22.09.2017, in case of another dealer, Addl. Commissioner issued revision notice on 06.11.17 u/s 75 of the GVAT Act.
On 16.03.2018, the high court...
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