ITAT grants Section 11 relief by holding that amendment is prospective and not punitive as Onerous compliance not to apply backwards
Imposition of penalty merely on technical mistake committed by the assessee without any loss of revenue would not be sustainable.
Cash deposit during Demonetization: ITAT deletes the addition as a trail of cash flow established the source of the deposits.
Any debatable issues should be assessed under scrutiny assessment under section 143(3) & not through summary processing under Section 143(1)(a)
Capital Gain Exemption: Separate floors of a singular house are not required to be considered as multiple residential houses
Reopening under section 148 & not under section 153C is bad in law if it is based on incriminating materials, documents, electronic data seized from a third party, or statements recorded during the investigation
Form 26A not filed by the assessee – Whether disallowance U/s 40(a)(ia) can be made even if the payee has already offered the income to tax in its ITR
Transaction which was bona fide and not aimed to avoid any tax liability would constitute a reasonable cause within the meaning of Section 273B
Delhi HC allows 54F deduction of Rs 90 Cr, where multiple floors of residential property were purchased
Suspicion cannot substitute evidence – No Addition under Section 69A in respect of cash of Rs. 1 Cr seized at Railway Station
Reassessment Proceeding: Section 149(1)(b) of the Act would be satisfied if the cumulative value of the expenditure exceeds ₹ 50 lakhs provided that the same is related to an event or occasion.
