Judiciary updates (Income tax)- 09th Dec 2021

HC deletes disallowance on Account of Slump Sale following its decision for earlier year

PCIT Vs Akzo Noble India Limited (Calcutta High Court) dated 24/11/2021

ITAT deletes addition for cash deposit bank as same were duly explained by Assessee

Sunil Mathur Vs ITO (ITAT Jaipur) dated 01/11/2021

Adjudication of correctness of CA’s report by Disciplinary committee of ICAI, no need once the report passed judicial scrutiny

Wholesale Trading Services P Ltd Vs The Institute of Chartered Accountants of India (Delhi High Court) dated 11/11/2021

Disallowance of expenditure sustainable when assessee unable to prove non-applicability of provisions of section 40(a)(ia)

Ilahia Trust Vs CIT (Kerala High Court) dated 15/11/2021

Penalty not leviable when serious financial constraint prohibited assessee from discharging self-assessment tax

DCIT Vs Karanja Terminal and Logistic Pvt. Ltd (ITAT Mumbai) dated 21/10/2021

No addition under Section 68 for loan received in earlier years

Sanjay Mehta Vs ACIT (ITAT Kolkata) dated 17/09/2021

Minimum Area of one acre of land for Section 80IB (10)- HC explains

PCIT Vs Karavali Housing (Karnataka High Court) dated 04/10/2021

No section 68 addition for trade creditors settled in succeeding year through banking channels

Madhu Solanki Vs ITO (ITAT Bangalore) dated 09/08/2021

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