ITAT Archive

Reopening for not replying enquiry letter issued on AIR basis to verify source of investment held bad

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Reopening for not replying enquiry letter issued on AIR basis to verify source of investment in the property held invalid for non application of mind by the Assessing Office.   ABCAUS Case Law Citation: ABCAUS 2098 (2017) (10) ITAT The Challenge/Grievance: This appellant assessee had challenged the order of

 

Affidavit of assessee not accepted as it was signed by some one else on behalf of the assessee

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Affidavit of assessee not accepted as it was signed by some one else on behalf of the assessee and not by the assessee himself. High Court found no illegality in ITAT order.   ABCAUS Case Law Citation: ABCAUS 2095 (2017) (10) HC The Challenge/Grievance: This instant Income Tax Appeal

 

Cash transactions between husband-wife do not attract section 269SS – ITAT

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Cash transactions between husband-wife do not attract section 269SS if transactions are not for commercial use. Tribunal deleted penalty under section 271D ABCAUS Case Law Citation: ABCAUS 2092 (2017) (10) ITAT The Challenge/Grievance: The assessee had challenged the order passed by the CIT(A) which confirmed the order of Assessing

 

Penalty for non payment of self assessment tax where return is revised and tax is paid

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Assessee liable to penalty u/s 221(1) for non payment of self assessment tax under section 140A, where return is revised and tax is paid at the time of filing the revised return of income – ITAT Special Bench Penalty for non payment of self assessment tax where return is

 

Penalty 271(1)(c) for interchanging opening wdv of fixed assets with assets of higher depreciation rate

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Penalty 271(1)(c) for mistakenly interchanged opening wdv of fixed assets with block of assets admissible a higher rate of depreciation   ABCAUS Case Law Citation: ABCAUS 2089 (2017) (10) ITAT The Challenge/Grievance: The appellant assesseeschallenged the order passed by the CIT(A) confirming action of Assessing Officer  (AO) in imposing

 

When assessee filed all details, rejecting registration u/s 12AA held wrong

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When assessee filed all details rejectig registration u/s 12AA by the CIT (Exemptions) on the ground that assessee was not interested in prosecuting the application was not consistent with the facts.   ABCAUS Case Law Citation: ABCAUS 2086 (2017) (09) ITAT The Challenge/Grievance: The appellant assessee had filed two

 

No disallowance for overpricing if party assessed at maximum marginal rate – ITAT

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No disallowance for overpricing if party assessed at maximum marginal rate and there is no loss of Revenue.   ABCAUS Case Law Citation: ABCAUS 2085 (2017) (09) ITAT The Challenge/Grievance: This was an appeal filed by Revenue against the order of CIT(A) whereby he had deleted the additions made