ITAT Archive

Entire amount of undisclosed purchases can not be added as profit. In absence of information on sales, only profit element can be taxed – ITAT

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Entire amount of undisclosed purchases can not be added as profit. In absence of information on sales of such purchases only profit element can be taxed – ITAT ABCAUS Case Law Citation: ABCAUS 1181 (2017) (03) ITAT Assessment Year : 2007-08 Date/Month of Pronouncement: March, 2017 Brief Facts of

Advance for purchasing capital assets not deemed divided u/s 2(22)(e). It was a trade advance in the normal course of business – ITAT

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Advance for purchasing capital assets not deemed divided u/s 2(22)(e). It was a trade advance in the normal course of business – ITAT ABCAUS Case Law Citation: ABCAUS 1180 (2017) (03) ITAT The Grievance: The appellant assessee company was aggrieved by the addition made by the Assessing Officer (‘AO’)

CIT-A not to reject new claims made first time on the ground that it was not raised before AO. Litigants can also forget vital issues while filing appeal – ITAT

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CIT-A not to reject new claims made first time on the ground that it was not raised before AO. Litigants can also forget vital issues while filing appeal – ITAT ABCAUS Case Law Citation: ABCAUS 1179 (2017) (03) ITAT Assessment Year : 2009-10 Date/Month of Pronouncement: March, 2017 Brief

Mistake in Tax audit report-taxes can not be collected without authority of law. Authorities duty bound to consider merits – ITAT

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Mistake in Tax audit report-taxes can not be collected without authority of law. It is bounden duty of authorities to consider submission on merits – ITAT    ABCAUS Case Law Citation: ABCAUS 1178 (2017) (03) ITAT The Grievance: The appellant assessee was aggrieved by the order of the CIT(A)

Affidavit statement has to be taken as correct unless controverted by material filed by other party to counter the statement made therein – ITAT

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Affidavit statement has to be taken as correct unless controverted by material filed by other party to counter the statement made therein – ITAT ABCAUS Case Law Citation: ABCAUS 1177 (2017) (03) ITAT The Grievance: This assessee was aggrieved by the order passed by the CIT(A) upholding the reopening

False return filed by loan consultant send to handwriting expert for verification of the signature of the assessee on ITR-V

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False return filed by loan consultant send to handwriting expert for verification of the signature of the assessee found on ITR-V acknowledgement as submitted to CPC Bangalore ABCAUS Case Law Citation: ABCAUS 1176 (2017) (03) ITAT Assessment Year : 2010-11 Date/Month of Pronouncement: March, 2017 Brief Facts of the

Guidelines for condonation of delay in appeal filing by Supreme Court and Calcutta High Court.

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Guidelines for condonation of delay in appeal filing by Supreme Court and Calcutta High Court. In a recent judgment ITAT Kolkata has condoned delay of 471 days following following these guidelines. ABCAUS Case Law Citation: ABCAUS 1175 (2017) (03) ITAT Assessment Year : 2010-11 Date/Month of Pronouncement: March, 2017
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