Category: Income Tax
Not striking off penalty notice SC dismisses assessee’s SLP against High Court order holding that it had caused no prejudice to the assessee ABCAUS Case Law Citation: ABCAUS 2597 (2018) (10) SC Important Case Laws Cited/relied upon: Commissioner of Income Tax Vs. Jindal Equipments Leasing and Consultancy Services …
CBDT denies further extension-order passed detailed order as per Gauhati High Court Direction. Further extension detrimental to tax-compliance. However Tax Bar Association motion against the CBDT order denying further extension listed on 31.10.2018 for hearing Read Status >> F.No. 225/358/2018/ITA.II Government of India Ministry of Finance Department of Revenue (CBDT) …
ITAT explains law of appeal to CIT-A of revisionary order passed u/s 263. When CIT himself enhanced income, appeal would not lie to CIT(A) ABCAUS Case Law Citation: ABCAUS 2596 (2018) (10) ITAT The assessee had filed an appeal against the orders of the CIT(A) in holding that …
Delay in filing appeal for negligence and laches of counsel cannot be condoned as avoidable cause for delay by due care and attention cannot be sufficient cause – ITAT ABCAUS Case Law Citation: ABCAUS 2595 (2018) (10) ITAT The appellant assessee’s appeal was directed against the order passed …
Deduction u/s 54 allowed for property purchased from wife by General Power of Attorney as transfer of immovable property by a General Power of Attorney constitute transfer of capital asset. ABCAUS Case Law Citation: ABCAUS 2594 (2018) (10) ITAT The appellant assessee’s appeal was directed against the order passed …
Expenses of little amounts inherently have some element of personal nature – ITAT upheld 10% disallowance of community and social expenses ABCAUS Case Law Citation: ABCAUS 2593 (2018) (10) ITAT The present appeal was preferred by the appellant assessee against the order of the Commissioner of Income Tax …
Gujarat Real Estate Regulatory Authority notified for exemption u/s 10(46) from assessment years 2019-2020 to 2023-2024. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 71 /2018 New Delhi, the 22nd October, 2018 S.O. 5368(E).—In exercise of the powers conferred by clause (46) of section …
Under section 71 assessee have option to set off losses against capital gains and the set off is not mandatory as revealed by legislative history – ITAT ABCAUS Case Law Citation: ABCAUS 2592 (2018) (10) ITAT Important Case Laws Cited/relied upon: Coated Fabrics (P) Ltd. vs JCIT’ 285 …
Assessee’s explanation may not be sufficient for deleting addition on merit, however, in penalty proceedings it deserves to be accepted – ITAT deletes concealment penalty imposed for addition made due to unserved summons on debtors ABCAUS Case Law Citation: ABCAUS 2591 (2018) (10) ITAT The instant appeal was …
CPC intimation treated as original notice of demand u/s 156 for filing appeal. CIT(A) rejected appeal as defective but ITAT remanded the matter ABCAUS Case Law Citation: ABCAUS 2589 (2018) (10) ITAT The instant appeal was filed by the assessee against the order of CIT(A) in rejecting the …