Notice u/s 148 is not valid since not served as sent to wrong email ID. Limitation extended due to Covid-19.

Foreign tax credit u/s 90 even if form 67 filed belatedly, is allowable subject to verification by the AO. Assessee entitled to claim relief as per DT...

Initiation of proceedings u/s 153C(1) instead of 143(3) invalid for AY 2020-21.

Tribunal Rules Property Received in Family Settlement Cannot Be Taxed; Overrules AO's Addition Beyond Notice Scope.

Court Rules Noida, Varanasi Sites Not Permanent Establishments; Quashes Tax Reassessment and PAN Jurisdiction Transfer.

Lease of property with substantial infrastructure is business income, not rental income. AO erred in changing head of income.

Delhi High Court Rules Guarantee Fees from Indian Subsidiaries Not Taxable as Interest Under DTAA Article 12.

Unexplained cash deposits u/s 68 were explained by withdrawals & cash balances. Interest disallowance u/s 36(1)(iii) deleted for real estate business.

Cash deposits more than turnover: Unexplained cash deposits u/s 69A were sourced from sales proceeds, loan & turnover.

LTCG deduction u/s 54F allowed despite pre/post-transfer payments. Provisions of sec 54/54F are benevolent.

ITAT Bangalore Rules in Favor of Assessee on Unexplained Cash Deposits u/s 69A During Demonetization.

Evidentiary value of statements u/s 132(4): Statements alone not enough for assessment. Non-issuance of Notice u/s 153C cannot be rectified u/s 292B.

Delhi High Court rules Indian PE interest from Head Office non-taxable under India-US DTAA; rejects 2016 Explanation's application.

Exemption: U/s 10(46) of IT Act 1961, 'Mathura Vrindavan Development Authority' notified by Central Govt.

Best Judgment assessment u/s 144 without notice u/s 143(2) is invalid. Addition u/s 69A as unexplained money deleted.

Tribunal Confirms Tax Exemption for State-Controlled Entity Under Article 12, Recognizing It as 'Instrument of State'.

Penalty u/s 271(1)(c) for bogus LTCG confirmed. Revised income declaration not voluntary. No exemption u/s 10(38).

Unexplained cash investment for property purchase. Addition without cross-examination deemed unjustified. Burden on AO to prove.

Non admission of appeal before the CIT(A) for non-payment of advance tax: Assessee not liable for advance tax u/s 208. Appeal restored.

Court Allows LIFO or FIFO for Stock Valuation Amid Section 145A Amendment Challenge, Quashes Certain Notices.