Category: Income Tax
Addition for creditors balance difference in fish trading business. 100% accounts reconciliation impossible considering perishable nature of business ABCAUS Case Law Citation:ABCAUS 3183 (2019) (10) ITAT Additions for creditors balance difference in fish trading business The appellant assessee was an individual and was trading in fish. The case …
Addition made for excess agriculture productivity of fruits quashed. No disallowance can be made merely on basis of report of Agriculture Officer ABCAUS Case Law Citation:ABCAUS 3182 (2019) (10) ITAT Addition made for excess agriculture productivity In the instant case, appeal was filed by the assessee against …
Prosecution 276C for wilful attempt to evade tax stayed during pendency of appeal as its outcome would have bearing on the prosecution against the petitioners. ABCAUS Case Law Citation:ABCAUS 3181 (2019) (10) HC Important case law relied upon by the parties:K.C.Builders v. Assistant Commissioner of Income Tax : …
Disallowance 40A3 for cash payments by brick kiln quashed as payments made to truck drivers at night after banking hours at village without banking facilities ABCAUS Case Law Citation:ABCAUS 3180 (2019) (10) ITAT Important case law relied upon by the parties:CIT vs. Raja Pal Automobiles (2010) 320 ITR …
Sale of scrap reduced from WIP upheld. Scrap held inextricably linked with construction / developmental activity ABCAUS Case Law Citation:ABCAUS 3179 (2019) (10) ITAT Important case law relied upon by the parties:Bokaro Steel Ltd. 236 ITR 315 In The instant case, the assessee had challenged the order passed …
Notice can be served on Chartered Accountant as agent of assessee when CA holds Power of Attorney of the Company for the relevant AY – Supreme Court ABCAUS Case Law Citation:ABCAUS 3178 (2019) (10) SC Important case law relied upon by the parties:State of Rajasthan v. Basant Nehata 2005 (12) SCC 77 Notice …
Notice u/s 143(2) served by affixture at wrong address without independent witness of the locality made it bad in the eyes of law. ITAT allowed appeal of the assessee ABCAUS Case Law Citation:ABCAUS 3176 (2019) (10) ITAT Important case law relied upon by the parties:ACIT Vs. Hotel Blue …
Mere mentioning changed address in return of income (ITR) without intimating AO new address and not getting PAN database changed is not enough – Supreme Court Mere mentioning changed address in ITR not enough ABCAUS Case Law Citation:ABCAUS 3175 (2019) (10) SC Important case law relied upon by …
Income Tax Department raid “wellness group” of self-styled spiritual godman Kalki Bhagwan’s and his conglomerate of trusts and companies Income Tax raid “wellness group” of Kalki Bhagwan Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 18th October, 2019 PRESS RELEASE Income Tax Department …
Notice u/s 143(2) issued in the name of dead person, assessment completed in the name of the deceased assessee through legal heirs set aside as invalid ABCAUS Case Law Citation:ABCAUS 3174 (2019) (10) HC Important case law relied upon by the parties:CIT vs M HemanathanSavithriammal v. State of …
