2022-TIOL-NEWS-069 Part 2 Dated: Friday, March 25, 2022

2022-TIOL-NEWS-069 Part 2 | March 25, 2022

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TIOL AWARD

TODAY'S CASE (DIRECT TAX)


	I-T - Additions framed on account of unexplained purchases are rightly set aside where based solely on assumptions: HC

INCOME TAX


	2022-TIOL-395-HC-DEL-IT Pr.CIT Vs Imperial Housing Ventures Pvt Ltd On appeal, the High Court observes there to be no discrepancy in the findings recorded by the ITAT in setting aside the findings of the AO, being based on assumptions & notwithstanding that all relevant transactions were recorded in the books of accounts. - Revenue's appeal dismissed: DELHI HIGH COURT 2022-TIOL-312-ITAT-BANG Bilikere Primary Agricultural Credit Cooperative Society Ltd Vs Pr.CIT Whether profit earned by a cooperative society from distribution of food grains and kerosene under PDS scheme is eligible for deduction u/s 80P(2)(a) - YES: ITAT - Case remanded: BANGALORE ITAT 2022-TIOL-311-ITAT-DEL Deepak Verma Vs ITO Whether estimation of gross profits can be estimated above the rate specified in the SCN - NO: ITAT - Assessee's appeal partly allowed: DELHI ITAT 2022-TIOL-310-ITAT-AHM Bookmywish E-Commerce Pvt Ltd Vs Addl.CIT Whether penalty imposed u/s 271D is rightly upheld where assessee is unable to establish that provisions of Section 269SS were not contravened - YES: ITAT - Assessee's appeal dismissed: AHMEDABAD ITAT

TODAY'S CASE (INDIRECT TAX)


	Service matter - Employees benefitted from old prevailing regime, cannot in absence of unequivocal indications in later policy, insist that they have right to be given benefits under superseded policy: SC LB

MISC CASE

2022-TIOL-24-SC-VAT

Tata Teleservices Ltd Vs State of Chhattisgarh

Whether it is fit case for remand where the High Court omits to consider the issue of limitation, while such issue goes to the root of the matter - YES: HC

- Case remanded: SUPREME COURT OF INDIA

2022-TIOL-23-SC-SERVICE-LB

Vice Chairman Delhi Development Authority Vs Narender Kumar

Whether employees benefitted from old prevailing regime, cannot in absence of unequivocal indications in later policy, insist that they have right to be given benefits under superseded policy - YES: SC

- Appeal allowed: SUPREME COURT OF INDIA

TOP NEWS


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