Category Archives: Income Tax Judgments

Income Tax Assessmet order not valid if show cause notice does not indicate time limit within which the assessee is required to respond High court HIGH COURT OF MADRAS Varadarajaperumal Pradeepkumar v. Income-tax Officer MOHAMMED SHAFFIQ, J. W.P. NO. 10721 OF 2021 W.M.P. NOS.11364, 11365 AND 19290 OF 2021 MARCH  6, 2024 P.V. Sudakar for the… Read More »

Income Tax Appeal can not be rejected just because filed manually instead of electronically : ITAT IN THE ITAT RAJKOT BENCH LRs Management v. Deputy Commissioner of Income-tax (International Taxation), Gujarat SMT. ANNAPURNA GUPTA, ACCOUNTANT MEMBER AND SMT. MADHUMITA ROY, JUDICIAL MEMBER IT APPEAL NO. 300 (RJT) OF 2017 [ASSESSMENT YEAR 2013-14] FEBRUARY  15, 2023 Manish… Read More »

Merely because sale deed had been executed subsequently section 54F benefit ca not be denied : ITAT IN THE ITAT CHENNAI BENCH ‘B’ Mrs. D. Vijayalakshmi v. Income-tax Officer MAHAVIR SINGH, VICE PRESIDENT AND MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER IT APPEAL NO. 3188 (CHNY.) OF 2019 [ASSESSMENT YEAR 2015-16] JANUARY  18, 2023 Anandd Babunath, (CA)-Ld AR for… Read More »

Assessee eligible for sec. 54F relief even if he own house in foreign country : ITAT IN THE ITAT COCHIN BENCH Smt. Maries Joseph v. Deputy Commissioner of Income-tax, International Taxation, Kochi N.V. VASUDEVAN, VICE PRESIDENT AND MS. PADMAVATHY S., ACCOUNTANT MEMBER IT APPEAL NOS.613 AND 566 (COCH.) OF 2022 [ASSESSMENT YEAR 2015-16] JANUARY  2, 2023… Read More »

Income Tax Reassessment Notice should clearly specify reasons for escapement of income of assessee : High Court HIGH COURT OF DELHI RK Gupta & Son HUF v. Income-tax Officer RAJIV SHAKDHER AND MS. TARA VITASTA GANJU, JJ. W.P.(C) 17466 OF 2022 CM NOS. 55738-39 OF 2022 DECEMBER  21, 2022 Ruchesh Sinha and Samyak Jain, Advs. for the Petitioner. Ajit Sharma, Sr.… Read More »

Income tax Interest u/s 234A & 234B can be levied only up-to-date of self-assessment tax paid by assessee: ITAT IN THE ITAT RAJKOT BENCH Dhirendra Narbheram Sheth v. Income-tax Officer Ward-2(3)(5), Rajkot WASEEM AHMED, ACCOUNTANT MEMBER MS. MADHUMITA ROY, JUDICIAL MEMBER I T APPEAL NO. 181 (RJT.) OF 2022 [ASSESSMENT YEAR 2011-12] FEBRUARY  3, 2023… Read More »

Interest on borrowed funds for Earnest Money Deposit is Allowed as Revenue Exp : High Court HIGH COURT OF KARNATAKA Principal Commissioner of Income-tax v. Prestige Garden Estates (P.) Ltd. P.S. DINESH KUMAR AND C.M. POONACHA, JJ. IT APPEAL NO. 841 OF 2018 OCTOBER  10, 2022 E.I. Sanmathi, Adv. for the Appellant. Sudheendra B.R., Adv. for the Respondent. JUDGMENT P.S.… Read More »