Category: Judgments
Failure to comply u/s 194C(7) does not resurrect liability u/s 194C(6), Section 194C(7) and section 194C(6) are independent to each other ABCAUS Case Law Citation: ABCAUS 3040 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: ACIT vs Mohammed Suhail The instant appeal was filed by …
Cash Payments itself not undisclosed income of assessee in the absence of corresponding asset found at the time of search. ITAT deleted penalty u/s 271AAB. ABCAUS Case Law Citation: ABCAUS 3035 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: NTPC vs. CIT 229 ITR 383 …
Addition made only on the basis of statement which stood retracted on the next day itself was unjustified. ITAT deleted the addition ABCAUS Case Law Citation: ABCAUS 3034 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Pullangode Rubber Produce Company Ltd. Vs State of Kerala …
Reassessment order quashed for not supplying reasons recorded for re-opening the assessment u/s 148 in spite of assessee’s written request ABCAUS Case Law Citation: ABCAUS 3033 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT Vs. Dr. T. K. Dayalu (2011) 14 taxmann.com 120 GKN …
ITAT warns of awarding cost for AO not following guidelines of Supreme Court in GKN Driveshaft where assessee objects to reassessment ABCAUS Case Law Citation: ABCAUS 3032 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: ITO v. Lakhmani Mewal Das 103 ITR 437 (SC) ITO …
Delay in filing electronic appeal due to non updation of mobile no. in aadhar so as to verify the OTP was held as sufficient reasons ABCAUS Case Law Citation:ABCAUS 3031 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties:Collector Land Acquisition Vs. Mst. Katiji & Others, …
Addition on account of notional annual value u/s 23(5) of property held as stock in trade deleted by ITAT as sub section (5) was inserted later ABCAUS Case Law Citation: ABCAUS 3030 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Ansal Housing Finance …
Sale of shares-Capital Gain or business income ? ITAT explains law in assessee’s favour quoting CBDT Instructions / Circulars and various judgments/case laws ABCAUS Case Law Citation: ABCAUS 3029 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Ramilaben D.Jain V/s. ACIT 97 Taxmann.com 217 Ratanlal …
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 …