6 Important Income Tax Case Laws 05.02.2025
| Sr No | Case Law Title | Brief Summary | Citation | Relevant Section and Act |
|---|---|---|---|---|
| 1 | HM Brothers (P.) Ltd. v. Deputy Commissioner of Income-tax | Disallowance of depreciation upheld as the assessee failed to submit records of machinery usage. | Section 32
Income Tax Act, 1961 |
|
| 2 | Sonansh Creations (P.) Ltd. v. Assistant Commissioner of Income-tax | Reopening notice quashed as the Assessing Officer had no material to substantiate the accommodation entries.
Income Tax Reopening Notice Quashed: No Evidence of Accommodation Entries, Reassessment can not be initiated on the basis of information which is incorrect |
Section 68
Income Tax Act, 1961 |
|
| 3 | Minal Shroff v. ITO | Reopening notice quashed as the Assessing Officer treated the information as gospel truth without any inquiry. | Section 68
Income Tax Act, 1961 |
|
| 4 | Anil Dhansukhlal v. Income-tax Officer | Addition deleted as the assessee had submitted sufficient evidence to explain the source of investment of Payment made from NRI Bank Account of Wife | Section 69
Income Tax Act, 1961 |
|
| 5 | Subhash Runwal v. Income-tax Officer | Reassessment proceedings quashed as the escaped income did not exceed BEL and the Assessing Officer failed to make any addition.
If the AO does not make an addition for the primary reason stated in the reopening notice, the basis for reassessment fails. |
Click Here | Section 69A ,139 and 254
Income Tax Act, 1961 |
| 6 | Subhash Runwal v. Income-tax Officer | Legal grounds raised for the first time before the Tribunal held admissible. | Click Here | Section 69A, 139, 254
Income Tax Act, 1961 |
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