2023-TIOL-378-HC-KERALA-IT
Nileshwar Range Kallu Chethu Vyavasaya Thozhilali Sahakarana Sangham Vs CIT
Whether claim for deduction under Section 80P is conditional on filing a return within the due date prescribed under Section 139(1) of the I-T Act - YES: HC
- Assessee's appeal dismissed: KERALA HIGH COURT
2023-TIOL-377-HC-MUM-IT
Milton Plastics Ltd Vs DCIT
Whether re-opening of assessment beyond 4-year limitation period is sustainable, where not based on any new evidence showing escapement of income during original assessment - NO: HC
- Writ petition allowed: BOMBAY HIGH COURT
2023-TIOL-368-ITAT-AHM
NTS Corporation Vs ITO
Whether AO and CIT (A) erred in making the additions when they themselves had agreed to the new transactions of the assessee - YES: ITAT
- Assessee's appeal partly allowed: AHMEDABAD ITAT
2023-TIOL-367-ITAT-KOL
ITO Vs MRG Securities Pvt Ltd
Whether AO erred in forming his belief merely on the basis of information received from Investigating wing without applying his independent mind - YES: ITAT
- Revenue's appeal dismissed: KOLKATA ITAT
2023-TIOL-366-ITAT-AHM
Mukeshbhai Pasaji Thakor Vs ITO
Whether the issue whether the land sold by assessee to fulfill criteria of S. 2(14) is factual in nature - YES: ITAT
- Assessee's appeal allowed: AHMEDABAD ITAT
2023-TIOL-371-ITAT-JABALPUR
DCIT Vs Kemtani And Associates
Whether power of revision can be said to be barred by time where a copy of the order was not validly served onto the assessee & where Revenue is unable to discharge burden of establishing existence of such order - YES: ITAT
- Revenue's appeal dismissed: JABALPUR ITAT
2023-TIOL-370-ITAT-JAIPUR
Manju Saran Vs ITO
Whether penalty u/s 271B can be levied for the reason that there was a failure on the part of the assessee to obtain tax audit report was on account of a bona fide reason of crashing the computer data - NO: ITAT
- Assessee's appeal allowed: JAIPUR ITAT
2023-TIOL-369-ITAT-RAJKOT
Dhirajlal Ratilal Maniyar Vs ITO
Whether additions framed on grounds of unexplained bank deposits are sustainable where assessee does not contest the charges, furnish any submissions or reply to SCNs or even appear for hearing - YES: ITAT
- Appeal dismissed: RAJKOT ITAT
2023-TIOL-364-ITAT-PUNE
Micro Age Instruments Pvt Ltd Vs ITO
Whether as per settled position in law, no disallowance of interest can be made when interest-bearing funds exceed the investments made by the assessee in securities yielding exempt income - YES: ITAT
- Appeal partly allowed: PUNE ITAT
2023-TIOL-363-ITAT-PUNE
Kirshor Madhav Paranjape Vs ACIT
On appeal, the Tribunal observes the request of the assessee to furnish some additional evidence. Hence it remands the matter to the AO for re-consideration of the matter after examining the additional evidence furnished by the assessee.
- Matter remanded: PUNE ITAT
2023-TIOL-362-ITAT-RAJKOT
Dilipsinh Harubha Parmar Vs ITO
Whether re-opening of assessment is valid where commenced by AO without considering the supporting documents adduced by assessee to explain sources of income - NO: ITAT
- Appeal allowed: RAJKOT ITAT
2023-TIOL-361-ITAT-RAJKOT
Dayalji Jamanadas Thacker Vs ITO
Whether penalty u/s 271B can validly be imposed where book results shown by assessee were substantially accepted by Revenue as genuine & delay in getting accounts audited was duly explained - NO: ITAT Whether penalty is to be imposed solely because it can be imposed in a certain set of circumstances - NO: ITAT Whether to impose or not to impose penalty is at the discretion of the authority to be exercised judicially and on considering all relevant circumstances - YES: ITAT Whether therefore, the authority is also justified in not imposing penalty when there is only a technical or venial breach of provisions or where the contravention flows from a bona fide belief that the assessee was not liable for some omission or commission - YES: ITAT
- Appeal allowed: RAJKOT ITAT
