Category: Judgments

Penalty-2711c not imposable if income estimated u/s 144 where books of accounts not produced

INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR ITA No.293(Asr)/2013 Assessment year: 2005-06 Income Tax Officer (Appellant)  vs. M/s. Age Construction Pvt. Ltd. (Respondent) Date of Order: 04-03/2016 ORDER PER A.D. JAIN, JM: This is the Department’s appeal for the assessment year 2005-06 against the order, dated 06.02.2013, passed by the …

Penalty 271(1)(c) limitation provisions u/s 2751a apply as per law in force at the time of filing of return

INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No.137(Asr)/2014 Assessment Year: 1994-95 Income Tax Officer (Appellant) vs. K.D. Bali (Respondent) Date of Order: 04-03-2016 ORDER PER T. S. KAPOOR (AM): This is an appeal filed by the Revenue against the order of learned CIT(A), dated 05.03. 2014 for Asst. Year 1994-95. …

Penalty 271(1)(c) interest on income-tax refund not added to income but disclosed in notes to accounts as contingent income

HIGH COURT AT CALCUTTA ITA 291 of 2009 CIT-II Ves.  PILANI INVESTMENT & INDUSTRIES CORPORATION LTD. Coram: Hon’ble Justice Girish Chandra Gupta And Hon’ble Justice Asha Arora Date on which Judgment delivered: 02.02.2016 GIRISH CHANDRA GUPTA J. The Revenue has come up in appeal u/s.260A of the Income Tax Act, …

Unexplained Investment u/s 69. Muslims religion bars Bank Interest income therefore gift, stridhan and savings kept in cash at home

INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW ITA No.697/LKW/2015 Assessment year:2010-11 Mehrun Nisha (Appellant) vs. Income Tax Officer (Respondent) Date of Order: 04-03-2016 ORDER PER A. K. GARODIA, A.M. This is assessee’s appeal directed against the order passed by learned CIT(A), Bareilly dated 27/08/2015 for the assessment year 2010-11. 2. …

Penalty 271(1)(c) deleted for claiming deduction u/s 54 for two residential houses . There was scope of ambiguity before amendment in 2014

INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW ITA No.01/LKW/2015 Assessment year:2006-07 Sandeep Shukla (Appellant)  vs. ACIT (Respondent) Date of Order: 04-03-2016 ORDER PER A. K. GARODIA, A.M. This is assessee’s appeal directed against the order passed by learned CIT(A)-II, Kanpur dated 11/09/2014 for the assessment year 2006-07. 2. The …

Section 12AA 80G5 charitable trust approval rejection on defective dissolution clause in the deed is beyond the scope of enquiry for grant of registration

INCOME TAX APPELLATE TRIBUNAL, KOLKATA ‘A’ BENCH, KOLKATA I.T.A. Nos. 1456 & 1457/KOL/ 2015 RP-Sanjiv Goenka Group CSR Trust …. Appellant vs. CIT (Exemptions) …. Respondent Date of Order: 04-03-2016 ORDER Per Shri P.M. Jagtap :- These two appeals filed by the assessee are directed against two separate orders passed …