Category: ITAT
Revision u/s 263 ordered for dropping penalty proceedings u/s 271(1)(c) set aside as AO took a view by adopting a plausible view ABCAUS Case Law Citation: ABCAUS 3028 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: MAK Data Pvt. ltd. Vs. CIT (2013) 358 ITR …
Foreign travel expenditure on visit to trade fair with tourist visa . ITAT restricted disallowance to 50 per cent in view of  connecting nature of business of the assessee ABCAUS Case Law Citation:ABCAUS 3027 (2019) (06) ITAT The instant appeal filed by the assessee was directed against the …
No Addition u/s 68 to be made as unexplained cash credit if loan creditor had deposited cash before issue of cheque ABCAUS Case Law Citation:ABCAUS 3026 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties:Orissa Corporation Pvt. Ltd. 159 ITR 78Rohini Builders 256 ITR 360 The …
Deemed Annual value of old dilapidated house not habitable set aside for verification as deemed provision u/s 23 not applicable in such conditions ABCAUS Case Law Citation: ABCAUS 3025 (2019) (06) ITAT The appeal was filed by assessee against the order of CIT(A). One of the issue was …
Exemption u/s 10(37) for compulsory acquisition not be denied merely because the sale price was fixed through a negotiated settlement ABCAUS Case Law Citation:ABCAUS 3024 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties:Balakrishnan v. Union of India The instant appeal was filed by the Revenue …
Forfeiture of deposit on account of cancellation of lease allowed as business loss u/s 28 being incidental to regular business carried on by the assessee ABCAUS Case Law Citation: ABCAUS 3023 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Mysore Sugar Co. Ltd., …
Sale of land situated within 8 KM of local municipality limit. Difference in certificate issued by Tahsiladar and internet details remitted back to AO. ABCAUS Case Law Citation: ABCAUS 3022 (2019) (06) ITAT This appeal of the assessee was directed against the order of the Commissioner of Income …
Non-cultivation of land due to vagaries of nature will not change the character of land from agriculture to non- agricultural land – ITAT allowed exemption u/s 54B ABCAUS Case Law Citation: ABCAUS 3021 (2019) (06) ITAT During the year, the assessee had sold land and claimed deduction under …
Additional depreciation on small items engaged in manufacturing of food products allowed. It cannot be denied for installing items at retail outlets ABCAUS Case Law Citation: ABCAUS 3020 (2019) (06) ITAT The appeal by the assessee was directed against the order passed by the Commissioner of Income-tax (Appeals) …
Depreciation on intangible assets on conversion of proprietorship into private limited company allowed as the transaction was not considered sham ABCAUS Case Law Citation: ABCAUS 3019 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Sandvik Chokshi Ltd. 55 taxmann.com 453 (Gujarat) Commonwealth Trust …