ITAT Archive

Assessment on the basis of AIR without notice u/s 143(2) void ab initio without jurisdiction and liable to be quashed, as no notice issued – ITAT

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Assessment on the basis of AIR without notice us 143(2) void ab initio without jurisdiction and liable to be quashed, as no notice issued – ITAT ABCAUS Case Law Citation: ABCAUS 1141 (2017) (02) ITAT Assessment Year : 2006-07 Date/Month of Pronouncement: February, 2017 Brief Facts of the Case:

No concealment penalty without recording findings to bonafide of the explanation offered by the assessee with reasoning. ITAT deletes penalty u/s 271(1)(c)

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No concealment penalty without recording findings to bonafide of the explanation offered by the assessee with reasoning. ITAT deletes penalty u/s 271(1)(c) ABCAUS Case Law Citation: ABCAUS 1140 (2017) (02) ITAT The Grievance: The assessee is aggrieved with the levy of penalty u/s 271(1)(c) of the Income-tax Act, 1961

Deemed dividend-share premium not part of accumulated profits. Proportionate taxation u/s 2(22)(e) to be made if more than one shareholder satisfy conditions-ITAT

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Deemed dividend-share premium not part of accumulated profits. Proportionate taxation u/s 2(22)(e) to be made if more than one shareholder satisfy conditions-ITAT  ABCAUS Case Law Citation: ABCAUS 1139 (2017) (02) ITAT Assessment Year : 2009-10 Date/Month of Pronouncement: February, 2017 Important Case Laws Cited/relied upon: Commissioner of Income Tax

Non striking off clause in penalty notice u/s 271(1)(c) do not invalidate it. ITAT deviates from the Judgment of Karnataka High Court follows jurisdictional High Court

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Non striking off clause in penalty notice u/s 271(1)(c) do not invalidate it. ITAT deviates from the Judgment of Karnataka High Court follows jurisdictional High Court In a recent judgment, ITAT Mumbai has upheld the penalty u/s 271(1)(c) dismissing the contention of the assessee regarding not striking off of

Absence of dissolution clause-Registration 12AA can not be denied to a charitable Trust for no specific clause in the Trust deed

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Absence of dissolution clause-Registration 12AA can not be denied to a charitable Trust for no specific clause in the Trust deed prohibiting trustee on asset distribution among themselves ABCAUS Case Law Citation: ABCAUS 1133 (2017) (02) ITAT Date/Month of Pronouncement: February, 2017 Important Case Laws Cited/relied upon: Rama Rashmi

Legal expenses claim of Salman Khan allowed in set aside proceedings by revisionary order of CIT u/s 263.

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Legal expenses claim of Salman Khan allowed in set aside proceedings by order of Commissioner of Income Tax under Revision u/s 263 The Hindustan Times in 2015, quoting Salim Khan, father of Salman Khan had reported that Bollywood actor had spent more than Rs 25 crore in the 2002 hit-and-run

TDS credit allowed despite income not offered to tax. House was sold to wife who paid taxes due in her ITR. TDS on Rent allowed to husband

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TDS credit allowed despite income not offered to tax. House was soldby the husband to the wife who paid taxes due in her ITR. ITAT allowed husband TDS on Rent deducted by bank.   ABCAUS Case Law Citation: ABCAUS 1129 (2017) (02) ITAT Assessment Year : 2009-10 Date/Month of
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