Category: ITAT
Revision u/s 263 done on issues not covered under limited scrutiny quashed as AO had already verified those issues for which limited scrutiny was conducted. ABCAUS Case Law Citation:ABCAUS 3201 (2019) (12) ITAT Important case law relied upon by the parties:Malabar Industrial Co. Ltd., (2000) 243 ITR 83(SC) …
Income Tax Act is welfare not penal legislation. intention is to provide benefit of doubt to assessee in the given facts and circumstances ABCAUS Case Law Citation:ABCAUS 3200 (2019) (12) ITAT In the instant case, the appeal was preferred by the assessee against the order of the CIT(Appeals). …
Failure of AO to apply/examine applicability of section 184(5) makes the assessment order erroneous and prejudicial to the interests of Revenue ABCAUS Case Law Citation:ABCAUS 3198 (2019) (12) ITAT Important case law relied upon by the parties:Mubarak Trading Co. v/s CIT, 174 Taxman 339Mas Properties & Developers v/s …
Reassessment u/s 148 due to credit card payment. ITAT directed AO to delete the addition made in view of returned income of the assessee ABCAUS Case Law Citation:ABCAUS 3197A (2019) (12) ITAT The instant appeal was filed by the assessee against the order of the CIT(A) in the …
Presumptive tax u/s 44AE – No addition for cash deposit in bank made out of business receipts unless rebutted by cogent findings ABCAUS Case Law Citation:ABCAUS 3197 (2019) (12) ITAT Important case law relied upon by the parties:CIT vs. Nitin Soni (2012) 21 taxmann.com 477. The instant appeal …
Human probability is that truck drivers would insist for cash payment-ITAT deleted additions u/s 40A(3) for cash payments ABCAUS Case Law Citation:ABCAUS 3196 (2019) (12) ITAT The instant appeal was filed by the assessee against the order of the Commissioner of Income Tax in confirming the disallowance u/s …
Benefit of exemption u/s 54F before its amendment can be extended to a residential house purchased outside India. ITAT allowed claim ABCAUS Case Law Citation:ABCAUS 3195 (2019) (12) ITAT Important case law relied upon by the parties:Anurag Pandit The instant appeal was filed by the assessee against the …
Late fee u/s 234E is imposed towards extra effort and resources for processing delayed TDS returns. ITAT dismisses assessee’s appeal ABCAUS Case Law Citation:ABCAUS 3194 (2019) (12) ITAT Important case law relied upon by the parties:Shree Narayana Guru Smaraka Sangam Upper Primary School vs. UOI & Ors.Rashmikant Kundalia …
Issuance of notice on wrong address not confers right on the Assessing Officer to get the notice served u/s 143(2) by way of affixation ABCAUS Case Law Citation:ABCAUS 3192 (2019) (11) ITAT Important case law relied upon by the parties:CIT vs. Madhsy Films P. Ltd. 301 ITR 69 …
Higher rate of depreciation allowable on crane. So long as crane is registered under the Motor Vehicles Act, it is a motor vehicle. ABCAUS Case Law Citation:ABCAUS 3191 (2019) (11) ITAT Important case law relied upon by the parties:CIT Vs. Gaylord Constructions Gujco Carriers Vs. CIT 122 taxman …