IT Judgement

Recent Posts

• CA issuance of Form No. 15CB under the Income-Tax Act does not amount to abetment of money laundering.
• Penny Stock Addition: Genuineness must be tested on human probabilities and surrounding circumstances, not mere documentation- ITAT Ahemedabad
• Reassessment Notices Issued in the Name of a Deceased Person is invalid
• Validity of addition on Account of Deemed Rent in respect of unsold Flats Held as Stock-in-Trade
• No addition permissible on the basis of WhatsApp chats or screenshots as it lack evidentiary value without section 65B certification and corroboration: ITAT
• Addition under section 68 was unjustified as the creditworthiness and genuineness could not be re-examined for a loan already accepted in prior years: ITAT
• Employee granted TDS Credit as the employer after deducting the TDS failed to deposit with the Government Treasury
• Reassessment notices issued by JAO instead of FAO are invalid and unsustainable in law: Jodhpur ITAT
• Entire property’s ALV cannot be taxed where only a part is let out; ALV must be proportionate to the let-out portions.
• Burden is on the Revenue to justify the assumption of jurisdiction: Non-compliance with CBDT Circular rendered assessment invalid