In Favour of Assessee

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Decision on Loose Papers found during the Search Section 132
ADVOCATE ATHARV MUNDRA FCA BPMUNDRA SUPREME COURT OF INDIA hold that The assessment orders passed in the search case is time barred where the assessments were not completed within two years from the end of the month the date of the Panchnama last drawn Section 125BE(b) CIVIL APPEAL NOS. 345-350 OF 2012 IN THE CASE OF Anil Minda and Others Vs. CIT on 24.03.2023
Q: Whether outstanding demand from a company can be recovered u/s 179 from the director of the company without pointing out that non-recovery was on account of gross negligent, misfeasance or breach of duty on part of the Director in relation to the affairs of the company? The answer was given by The Hon’ble High Court Of Gujarat on dated 16.12.2022
Q: Can income tax officer order for Provisional attachment of cash, bank, any property belonging to the assessee? HIGH COURT OF GUJARAT passed the order on dated 29/11/2022.
Question Whether van rent received and paid by the educational institute appearing in both side of income of expenditure account will be counted for calculating turnover of the assessee to allow the benefit U/s 10(23C) of the Act. ITAT AMRITSAR BENCH, AMRITSAR passed the order on 10.8.2022 in thc case of Baba Farid Public Welfare Society vs. ITO (Exemptions), Ward, Amritsar
Series: Notice u/s 148 recd. What to do Check list: point first : Pls see the date and time of digitally signing of the Ld. AO and digitally granting of approval by the Prescribed Authority. HIGH COURT OF ALLAHABAD decided on SEPTEMBER 8, 2022
Question: Can AO reassessment order frame without considering the objection to the reopening of the assessment under section 147 of the IT Act? HIGH COURT OF ORISSA passed the order on this issue.
Whether remuneration to partner should be first allowed or brought forward business losses should be first set off? Ahmedabad tribunal decided the issue is very useful.
Question: Whether penalty imposed under section 270A is to quashed when AO as well as assessee has used the same details to arrive at different conclusions i.e. differing quantum of disallowances under section 14A of the Act. High Court of Delhi decided on this issue on May 31, 2022.
ITAT DELHI “SMC” BENCH Pronouncement the order on 27.5.2022 in the case of Bharat Bhushan Jain Vs. ITO.