Category: ITAT
No relief admissible u/s 89(1) for compensation received on termination of employment due to closure of plant In a recent judgment, the Hon’ble ITAT has held that no relief admissible u/s 89(1) towards compensation received on termination of employment due to closure of plant ABCAUS Case Law Citation:ABCAUS …
Mere use of term Islamic world or Islamic Scholars in objects would not make trust created only for a religious community or cast – ITAT In a recent judgment, the Hon’ble ITAT has held that mere use of term Islamic world in objects and particularly the Islamic Scholars …
Disallowance u/s 43B deleted as GST payable was not debited to Profit & Loss account and was paid before due date for filing return of income. In a recent judgment, the Hon’ble ITAT has deleted disallowance u/s 43B as GST payable reported in Tax Audit Report was not …
No disallowance for delayed deposit of PF/ESI prior to judgment of Supreme Court Disallowance of u/s 36(1)(va) for delayed deposit of employees share of PF/ESI contribution prior to the judgment of Hon’ble Supreme Court being debatable, CPC could not have made adjustments u/s 143(1) – ITAT In a …
No pre-deposit requirement of tax/advance tax u/s 249(4)(b) before appeal to CIT(A) in case of no admitted or undisputed tax – ITAT In a recent judgment, the Hon’ble ITAT has held that in case of no admitted or undisputed tax, pre-deposit requirement under Section 249(4)(b) of the Income …
Penalty u/s 272A(1)(d) deleted as notices gave assessee only two hours time to comply and that too on a public holiday i.e. Sunday In a recent judgment, the Hon’ble ITAT has deleted the Penalty u/s 272A(1)(d) for non compliance of notices, as notices were issued on Sunday and …
Income earned from property if business income or income from house property primarily depends upon the objects / main business of the assessee – ITAT In a recent judgment, the Hon’ble ITAT has set aside revisionary order u/s 263 and held that Assessing Officer was not justified in …
Valuation of closing stock is revenue neutral – ITAT deleted addition on account of valuation of stock In a recent judgment, ITAT has held that valuation of closing stock is revenue neutral. Even if it is enhanced for the year under consideration the same will reduce the profit …
Disallowance towards land filling expenses was right as except contractor bills no other evidence was produced – ITAT In a recent judgment, ITAT has confirmed the disallowance towards land filling expenses as except contractor bills no other evidence was produced showing how the property was made beneficial with …
Assessee was liable to pay penalty u/s 272A(1)(d) on the first default as thereafter, the AO could have proceeded to frame an ex-parte order – ITAT In a recent judgment, ITAT has deleted the penalty u/s 272A(1)(d) for multiple default in non-compliance to the notice holding that assessee …