2023-TIOL-56-SC-IT

Pr.CIT Vs Annasaheb Patil Mathadi Kamgar Sahakari Pathpedi Ltd

On appeal, the Supreme Court observes that the factual findings recorded by the CIT(A) & ITAT that the assessee herein cannot be deemed to be a cooperative bank, do not warrant interference with, more so considering relevant CBDT Circulars and provisions of Banking Regulation Act. Hence the assessee is held to be eligible for benefit u/s 80P of the Act.

- Appeal dismissed: SUPREME COURT OF INDIA

2023-TIOL-55-SC-IT

ACIT Vs Kantilal Exports Surat

Whether additions framed on grounds of unexplained income are sustainable where the authorities have not considered books maintained by the assessee outside of regular books - NO: SC

- Appeal allowed: SUPREME COURT OF INDIA

2023-TIOL-589-ITAT-DEL

Green Valley Plywood Ltd Vs DCIT

Whether ITAT should interfere in cases where the CIT(A) has passed the order after relying on all case laws and facts of the case - NO: ITAT

- Assessee's appeal dismissed: DELHI ITAT

2023-TIOL-588-ITAT-DEL

DCIT Vs Global Fairs And Media Pvt Ltd

Whether AO erred in challenging the valuation of the goodwill by the assessee merely because performance did not match projections -YES: ITAT

- Revenue's appeal dismissed: DELHI ITAT

2023-TIOL-587-ITAT-PUNE

Finolex Industries Ltd Vs ITO

Whether as per settled law, if any return is filed beyond due date u/s 139(1) of the Act then no deduction u/s 80P shall be allowed - YES: ITAT Whether where admittedly return was filed beyond the time limit prescribed u/s 139(1) of the Act but still section 143(1)(a)(v) is not applicable to the assessee since the case of the assessee is for A.Y. 2019-20, which is before the amendment - YES: ITAT

- Assessee's appeal allowed: PUNE ITAT

2023-TIOL-586-ITAT-BANG

Gokaldas Exports Vs DCIT

Whether jurisdiction u/s 147 can be exercised in cases of non reasoned order - NO: ITAT

- Assessee's appeal allowed: BANGALORE ITAT