Category: Income Tax
Date of dispatch of Speed Post of duly verified ITR-V shall be considered for the purpose of determination of 30 days period – ITAT In a recent judgment, ITAT Chandigarh has allowed the benefit of New Tax Regime to the assesee as the date of dispatch of Speed …
Cash deposited in bank before giving unsecured loan. The addition if at all can be made u/s 69A in the hands of loan creditor and not u/s 68 in the hands of receiver. In a recent judgment, ITAT Raipur has held where loan creditor deposited cash just before …
Limitation for filing Rectification Application to ITAT u/s 245(2) starts from the date when the order of which rectification is sought, is served upon the Petitioner – Bombay High Court In a recent judgment, Hon’ble Bombay High Court has held that limitation for filing the Rectification Application before …
Only days on which actual services rendered by company to be considered in computing threshold for constitution of permanent establishment (PE) In a recent judgment, Delhi High Court has upheld exclusion of business development days and common days and only the days on which actual services were rendered …
Depreciation on goodwill in the hands of amalgamated company upheld as Assessing Officer had taken a plausible view in line with supreme court judgment. In a recent judgment, Hon’ble Supreme Court has dismissed the appeal of the Revenue against the judgment of Gujarat High Court upholding depreciation on …
Addition u/s 68 deleted as there was no cash trail, rotation of funds, or incriminating evidences, no enquiry conducted into records furnished by assessee In a recent judgment, ITAT Guwahati has deleted addition of unexplained cash credit u/s 68 as there was no cash trail, rotation of funds, …
In case of re-allotment of flat by builder, stamp duty valuation would be with reference to date of booking of original flat. In a recent judgment, ITAT Mumbai has held that when another flat was allotted by the builder in place of original booking, stamp duty valuation should …
When information contained in loose papers not corroborated with assessee, there is absolutely no room for presumption that it belongs to the assessee. In a recent judgment, ITAT Agra has held that information contained in loose papers if not corroborated with the assessee, there is absolutely no room …
When CIT(A) order to remand case to AO was set aside without interfering with direction to delete addition, order of AO did not automatically revive. In a recent judgment, Kolkata High Court has held that when High Court set aside CIT(A) order to remand the case but did …
Amount of Rs. 6 lakh claimed to have been received as gift from parents in law not an excessively or unreasonably high amount – ITAT In a recent judgment, ITAT Lucknow has held that amount of Rs. 6,00,000/- claimed by assessee to have been received as gift from …
