Category: Income Tax
Income offered and taxed in the proceedings before the Settlement Commission, cannot be taxed again in the proceedings u/s 143(3) of the Act ABCAUS Case Law Citation: ABCAUS 2944 (2019) (05) ITAT The asssessee had challenged the order passed by the Commissioner of Income Tax (Appeals) in confirming …
Section 45(5A) is prospective in nature not retrospective. The section provides that the date of handover of the possession is the criteria to consider capital gains and not the date of agreement. ABCAUS Case Law Citation: ABCAUS 2943 (2019) (05) ITAT Important Case Laws Cited/relied upon by the …
Employer deducting Tax on a bonafide estimate cannot be held assessee in default u/s 201(1) as TDS is a tentative deduction subject to regular assessment in the hands of the payee/recipient. ABCAUS Case Law Citation: ABCAUS 2942 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties …
Penalty u/s 271(1)(c) on proportionate disallowance of interest expenses towards interest free advances given by the assessee deleted ABCAUS Case Law Citation: ABCAUS 2941 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties CIT vs. Dalmia Dyechem Industries Ltd. The assessee had filed an appeal against …
No addition u/s 41(1) can be made unless liability is written off in accounts. AO has to brought evidence on record to show that liability has ceased ABCAUS Case Law Citation: ABCAUS 2940 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties CIT v. Bhogilal Ramjibhai …
No addition made on account of reasons recorded for reopening, the reassessment, order passed was vitiated in law – ITAT ABCAUS Case Law Citation: ABCAUS 2939 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: CIT v. Jet Airways (I) Ltd. (2011) 52 DTR 71 Shri …
Reassessment without fresh material with the Assessing Officer to believe that income has escaped assessment is invalid ABCAUS Case Law Citation: ABCAUS 2938 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Income Tax Officer, Ward 2(4) Vs. Chetna Surana In the instant appeal, the assessee …
Franchise of Kidzee school chain denied registration u/s 12AA as Trust was running with primary objective of branding and earning commercial profits. ABCAUS Case Law Citation: ABCAUS 2937 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties: CIT Vs. Highlanders Educational Academy Meritta Welfare Trust Vs. …
Penalty u/s 271BA deleted for not uploading audit report in Form No. 3CEB due to technical glitches when report was obtained before prescribed date ABCAUS Case Law Citation: ABCAUS 2936 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Ajit Singh Rana Vs. ACIT (2013) 33 …
If books of account not maintained penalty u/s 271B cannot be levied for non audit u/s 44AB. ITAT deleted penalty u/s 271B and sustained penalty u/s 271A ABCAUS Case Law Citation: ABCAUS 2935 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties CIT Vs. S.K. Gupta …
