2021-TIOL-520-HC-MAD-IT
CIT Vs Y V Subramaniam
Whether exercising power of revision is unwarranted, where no reasons are recorded for the same & where the original assessment order is passed after due consideration of facts - NO: HC
- Revenue's appeal dismissed : MADRAS HIGH COURT
2021-TIOL-519-HC-MAD-IT
CIT Vs Subramani Prabha
Whether appeal filed by assessee must not be rejected merely because assessee had not filed e-appeal within period of limitation – YES: HC
- Case remanded : MADRAS HIGH COURT
2021-TIOL-518-HC-MAD-IT
Ponnaiyah Ramajayam Institute Of Science And Technology Trust Vs ACIT
In writ, the High Court directs the assessee to appear before the Revenue officer concerned & present evidence showing that the demand raised in the notice is not sustainable.
- Writ petition disposed of : MADRAS HIGH COURT
2021-TIOL-517-HC-MAD-IT
Nagaraj And Company Pvt Ltd Vs ACIT
On appeal, the High Court observes that the assessee seeks resolution of the matter under the Direct Tax Vivad Se Vishwas Scheme. Hence it finds no reason to keep the appeal pending. It also permits liberty to the assessee for restoration of appeal, in case the application under the Scheme is rejected.
- Assessee's appeal disposed of : MADRAS HIGH COURT
2021-TIOL-516-HC-AHM-IT
Hiteshkumar Babulal Ramani Vs ACIT
Whether details available in books of account for balance sheet or profit or loss account can absolve assessee from his disclosure obligation u/s 147 – NO: HC
- Assessees' writ petition dismissed : GUJARAT HIGH COURT
2021-TIOL-422-ITAT-DEL
Aarya Organic Foods And Ayurvedic Industries Pvt Ltd Vs ITO
Whether addition u/s 68 can be deleted when the fact of confirmation, bank transfer and bank statement of the lender of the money is found to be correct, but the source of income is not known - YES: ITAT
- Assessee's appeal partly allowed: DELHI ITAT
2021-TIOL-421-ITAT-MUM
ACIT Vs Walpha Engineering
Whether disallowance of bogus purchases can be restricted to 25% merely on the ground that only the benefit derived by using such accommodation entries has to be brought to tax - YES: ITAT
- Revenue's appeal dismissed: MUMBAI ITAT
2021-TIOL-420-ITAT-AHM
Neotech Education Foundation Vs DCIT
Whether conditional stay order can be granted when amount has been added on protective basis - YES: ITAT
- Assessee's appeal allowed: AHMEDABAD ITAT
2021-TIOL-419-ITAT-BANG
KL Channakeshava Vs ITO
Whether on assessee's submissions being rejected without examining, he must be provided reasonable opportunity of being heard – YES: ITAT.
- Assessee's Appeal allowed: BANGALORE ITAT
2021-TIOL-418-ITAT-KOL
ACIT Vs Narula Educational Trust
Whether addition based on the difference of valuation on the basis of DVO report made on a reference by the DDIV (Inv.) before the period of empowering the DDIT (Inv.) for such making reference is sustainable - NO: ITAT
Whether in absence of any incriminating material found during the course of search, any additions can be made in the unabated assessments - NO: ITAT
- Revenue's appeal dismissed: KOLKATA ITAT
2021-TIOL-417-ITAT-BANG
Touchstone Estates Pvt Ltd Vs ITO
Whether the non-recovery of advances has to be treated as capital loss by the assessee itself in its books of accounts and the same can be allowed as business loss - YES: ITAT
- Assessee's appeal allowed: BANGALORE ITAT
