2023-TIOL-127-HC-DEL-IT
Pr.CIT Vs Pushp Steel And Mining Pvt Ltd
Whether the High Court's intervention is warranted in a matter in which the net tax effect is far below the monetary limit specified in the relevant Circular of the CBDT - NO: HC
Whether 109-day delay by Revenue in filing appeal can be condoned where insufficient explanation is given for such delay, more so in light of settled law that delay of every single day has to be explained - NO: HC
- Revenue's appeal dismissed: DELHI HIGH COURT
2023-TIOL-112-ITAT-DEL
ACIT Vs Harish Bhandari
Whether when there is no irretrievable benefit that had accrued to assessee, professional income cannot be brought to tax in hands of assessee u/s 28(iv) - YES: ITAT
- Revenue's appeal dismissed: DELHI ITAT
2023-TIOL-111-ITAT-DEL
JCIT Vs Krishna Continental Ltd
Whether no addition on account of undisclosed income can be made only on basis of statement recorded u/s 132(4), and without any corroborating evidence - YES: ITAT
- Revenue's appeal dismissed: DELHI ITAT
2023-TIOL-110-ITAT-MUM
Mohd Saleem Mohd Nazir Shaikh Vs DCIT
Whether annual letting value needs to be determined in terms of applicable rent control legislation - YES: ITAT
- Case remanded: MUMBAI ITAT
2023-TIOL-109-ITAT-KOL
ITO Vs Naina Distributors Pvt Ltd
Whether where evidences were filed by assessee proving identity & creditworthiness of loan transactions, fact that summon issued were returned un-served is of little significance to prove genuineness of transactions and identity & creditworthiness of creditors - YES: ITAT
Whether non-production of directors of investors cannot be a ground for making addition in hands of assessee u/s 68 when other evidences relating to raising share capital and also qua share subscribers are available on record - YES: ITAT
- Revenue's appeal dismissed: KOLKATA ITAT
