ITAT Archive

Donation made to BJP-Congress not claimed in return allowed following Supreme Court judgment

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Donation made to BJP-Congress not claimed in return allowed following Supreme Court judgment that ITAT powers not limited in dealing with claim of the assessee not made before AO. ABCAUS Case Law Citation: ABCAUS 1293 (2017) (07) HC The Question for determination: Whether in the facts and in the

If foundational addition is deleted other addition can not stand – ITAT

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If foundational addition is deleted other addition can not stand. CIT(A) cannot do what AO could not have done in original assessment-ITAT ABCAUS Case Law Citation: ABCAUS 1291 (2017) (07) ITAT Assessment Year : 2006-07 Important Case Laws Cited/relied upon: CIT vs. Kanpur Coal Syndicate (1964) 53 ITR 225

Exemption us 54F available if investment made before time allowed us 139(4) – ITAT

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Exemption us 54F-if investment made before time allowed us 139(4) for filing of belated return. ITAT allowed exemption follwoing High Court judgments ABCAUS Case Law Citation: ABCAUS 1290 (2017) (07) ITAT The Issue: The only issue raised in the instant appeal was against denial of partial exemption u/s 54F

Deduction claim against LIC Incentive bonus admissible up to 30% from 01.04.1989 -ITAT

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Deduction claim against LIC Incentive admissible up to 30 percent. From 01.04.1989  Development Officers entitled for reimbursement to the extent of 30% of the incentive bonus-ITAT ABCAUS Case Law Citation: ABCAUS 1286 (2017) (07) ITAT The Grievance: The present appeal by the assessee was directed against the order passed

Doubtful advances written off treated as provisions not allowable expenditure in contrast to bad debts

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Doubtful advances written off treated as provisions not allowable expenditure u/s 37(1) in contrast to bad debts w/o u/s 36(i)(vii) qua sundry debtor – ITAT ABCAUS Case Law Citation: ABCAUS 1281 (2017) (06) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner of

Mere third party statement of accommodation entries not sufficient to reopen assessment

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Mere third party statement of accommodation entries not sufficient to reopen assessment in the absence of any nexus of statement to alleged share applicants-ITAT ABCAUS Case Law Citation: ABCAUS 1279 (2017) (06) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner of Income

Appeal before CIT rejected for not filed electronically remanded for reconsideration by removing defect

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Appeal before CIT rejected for not filed electronically remanded. Sufficient time to be given to assessee to remove defect by filing e Form-35 – ITAT ABCAUS Case Law Citation: ABCAUS 1278 (2017) (06) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner of
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