2021-TIOL-232-SC-IT

ITO Vs Late Bhupendra Bhikhalal Desai

Having heard the parties, the Supreme Court refused to interfere wih the decision of the High Court on the matter of validity of notice u/s 153C issued to dead person, and accordingly, dismisses the SLP.

- Revenue's SLP dismissed: SUPREME COURT OF INDIA

2021-TIOL-231-SC-IT-LB

Pr.CIT Vs Nitin Spinners Ltd

Having heard the parties, the Supreme Court refused to interfere with the findings of the High Court on the issue of treatment of government subsidy as capital receipt.

- Revenue's SLP dismissed: SUPREME COURT OF INDIA

2021-TIOL-1458-ITAT-MUM

Shivkrupa Sahakari Patpedhi Ltd Vs Pr.CIT

Whether interest earned on bank deposits by Co-operative Societies s eligible for deduction u/s 80P - YES : ITAT

- Assessee's appeal allowed: MUMBAI ITAT

2021-TIOL-1457-ITAT-KOL

Fizaan Commotrade Pvt Ltd Vs ITO

Whether merely for non-appearance of directors of share subscribing company before AO, genuineness of transaction pertaining to share capital raised can be questioned – NO : ITAT

- Assessee's appeal allowed: KOLKATA ITAT

2021-TIOL-1456-ITAT-AGRA

Jagdish Arora Vs ITO

Whether exemption is required to be specifically granted by the statute and it cannot be inferred or drawn - YES : ITAT

- Assessee's appeal dismissed: AGRA ITAT