ITAT Archive

Lack of enquiry or inadequate enquiry. Revision u/s 263 quashed by ITAT applying the large number of judgments of High Court and Supreme Court.

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Lack of enquiry or inadequate enquiry. Revision u/s 263 quashed by ITAT applying the large number of judgments of High Court and Supreme Court. ABCAUS Case Law Citation: ABCAUS 1220 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the revisionary order passed by the Commissioner of

Salary recovered for notice period not taxable u/s 16 – ITAT

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Salary recovered for notice period not taxable salary us 16 as per agreement with the employers when actually assessee had received less salary – ITAT ABCAUS Case Law Citation: ABCAUS 1219 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order of the Commissioner of Income

Disallowance of interest for drawings out of cash credit account deleted as closing balance of capital was more than opening balance

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Disallowance of interest for drawings out of cash credit account deleted as despite drawings closing balance of capital was more than opening balance ABCAUS Case Law Citation: ABCAUS 1217 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order of the Commissioner of Income Tax (Appeals)

No concealment penalty on return revision before issue of notice u/s 148 but after initiation of investigation in tax evasion petition filed – ITAT

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No concealment penalty on return revision made before issue of notice u/s 148 though after initiation of investigation in tax evasion petition filed against the assessee – ITAT ABCAUS Case Law Citation: ABCAUS 1215 (2017) (04) ITAT The Grievance: The appellant assessee company was aggrieved by the order of

Concealment means positive act on part of the assessee and onus to prove is on Revenue – ITAT

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Concealment means positive act on part of the assessee and the onus to prove is on Revenue. Penalty can not be levied on estimate or guess work – ITAT ABCAUS Case Law Citation: ABCAUS 1214 (2017) (04) ITAT The Grievance: The appellant assessee company was aggrieved by the order

Sales Promotion expenses allowed based on percentage to sales when such expenses were allowed on similar ratio in preceding year.

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Sales Promotion expenses allowed based on percentage to sales when such expenses were allowed on similar ratio in preceding year. Sales Promotion expenses allowed based on percentage to sales ABCAUS Case Law Citation: ABCAUS 1213 (2017) (04) ITAT The Grievance: The appellant assessee company was aggrieved by the order

Purchase not bogus merely for non-appearance of supplier

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Purchase not bogus merely for non-appearance of supplier Merely non-appearance of the supplier in absence of any other corroborate evidence cannot be a basis to justify the stand of the Revenue that the transaction of purchase is bogus-ITAT ABCAUS Case Law Citation: ABCAUS 1212 (2017) (04) ITAT The Grievance:
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