Category: Income Tax
Pending grievances on CPGRAMS and e-Nivaran due to lackadaisical attitude of authorities – CBDT Chairman stresses on timely and proper redressal of public grievances related to income tax CBDT Chairmana Shri P. C. Mody has stressed on Timely and proper redressal of Public Grievances. In his recent message …
Addition on account of notional annual value u/s 23(5) of property held as stock in trade deleted by ITAT as sub section (5) was inserted later ABCAUS Case Law Citation: ABCAUS 3030 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Ansal Housing Finance …
Sale of shares-Capital Gain or business income ? ITAT explains law in assessee’s favour quoting CBDT Instructions / Circulars and various judgments/case laws ABCAUS Case Law Citation: ABCAUS 3029 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Ramilaben D.Jain V/s. ACIT 97 Taxmann.com 217 Ratanlal …
Revision u/s 263 ordered for dropping penalty proceedings u/s 271(1)(c) set aside as AO took a view by adopting a plausible view ABCAUS Case Law Citation: ABCAUS 3028 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: MAK Data Pvt. ltd. Vs. CIT (2013) 358 ITR …
Foreign travel expenditure on visit to trade fair with tourist visa . ITAT restricted disallowance to 50 per cent in view of connecting nature of business of the assessee ABCAUS Case Law Citation:ABCAUS 3027 (2019) (06) ITAT The instant appeal filed by the assessee was directed against the …
No Addition u/s 68 to be made as unexplained cash credit if loan creditor had deposited cash before issue of cheque ABCAUS Case Law Citation:ABCAUS 3026 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties:Orissa Corporation Pvt. Ltd. 159 ITR 78Rohini Builders 256 ITR 360 The …
Deemed Annual value of old dilapidated house not habitable set aside for verification as deemed provision u/s 23 not applicable in such conditions ABCAUS Case Law Citation: ABCAUS 3025 (2019) (06) ITAT The appeal was filed by assessee against the order of CIT(A). One of the issue was …
Exemption u/s 10(37) for compulsory acquisition not be denied merely because the sale price was fixed through a negotiated settlement ABCAUS Case Law Citation:ABCAUS 3024 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties:Balakrishnan v. Union of India The instant appeal was filed by the Revenue …
Forfeiture of deposit on account of cancellation of lease allowed as business loss u/s 28 being incidental to regular business carried on by the assessee ABCAUS Case Law Citation: ABCAUS 3023 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Mysore Sugar Co. Ltd., …
Sale of land situated within 8 KM of local municipality limit. Difference in certificate issued by Tahsiladar and internet details remitted back to AO. ABCAUS Case Law Citation: ABCAUS 3022 (2019) (06) ITAT This appeal of the assessee was directed against the order of the Commissioner of Income …