The Gauhati High Court has held that the long-term capital gains are exempt from income tax, and the non-disclosure while computing the long-term capital gains cannot result in causing prejudice to.
While rejecting the appeal challenging the validity of notice issued u/s 153A, the New Delhi ITAT held that section 292CC of the Income Tax Act empowers an officer to presume that the books of.
Finding that the AO has completely relied on the statement of third party without giving opportunity to the assessee to prove its point of view, which is against natural justice, the Mumbai ITAT.
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) has held that the penalty order on the ground of misreporting of income was not justified when show cause notice and the assessment order.
Nominal Index Citations [2023 LiveLaw (Ker) 1-210]Union of India & Ors. v. P.K. Santhosh Kumar, 2024 LiveLaw (Ker) 1P C Najeeb v State of Kerala, 2024 LiveLaw (Ker) 2George Mathew v. State of Kerala,.