Category: Income Tax
Assessment made on the basis of wrong cash book printed out from tally package with negative figures, ignoring correct cash book remanded by ITAT ABCAUS Case Law Citation: ABCAUS 2931 (2019) (05) ITAT The appeals filed by the separate was directed against the common order of the Commissioner …
Disallowance u/s 184(5) not have cause and effect relationship with assessment being framed under section 144 – ITAT upheld additions ABCAUS Case Law Citation: ABCAUS 2930 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties M/s. Jai Hanuman Enterprises vs ITO The appellant assessee was a …
Addition u/s 68/69 deleted for cash deposit in bank of amount returned back by father and brother out of amount gifted by assessee ABCAUS Case Law Citation: ABCAUS 2929 (2019) (05) ITAT The Assessing Officer (AO) AO observed that that there were cash deposits in the Bank account …
Merely printing other aims/objects as per requirement of Registrar of Societies would not disqualify it for approval u/s 10(23C)(vi) – ITAT ABCAUS Case Law Citation: ABCAUS 2928 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Harf Charitable Trust (Regd.) Malerkotla vs. Chief Commissioner of Income …
Penalty u/s 271D deleted for cash loan from father mother and brothers as loan was from close family relations and there was a reasonable cause u/s 273B ABCAUS Case Law Citation: ABCAUS 2927 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties CIT vs. M. …
CBDT further defers clause 30C and clause 44 related to GAAR & GST compliance in Tax Audit Report Form 3CD till 31.03.2020 In 2018 also the CBDT vide Circular No. 6/2018 had deferred till 31.03.2019, the clauses related to GAAR & GST compliance in Revised Form 3CD 31.03.2019 …
Mere transporting goods to customers not enough to claim higher depreciation unless assessee is in business of transportation or running trucks on hire ABCAUS Case Law Citation: ABCAUS 2925 (2019) (05) ITAT The appeal was filed by the Department (the Revenue) against the order of the Commissioner of …
Disallowance u/s 37 for penalty/demurrage for late delivery of goods not for any offence prohibited by law but merely normal business expenditure – ITAT ABCAUS Case Law Citation: ABCAUS 2924 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Mahalakshmi Sugar Mills Co. Ltd. vs. CIT …
Non furnishing reasons recorded-High court quashed reassessment order admitting writ as an exceptional case for invoking power under Article 226 ABCAUS Case Law Citation: ABCAUS 2923 (2019) (05) HC Important Case Laws Cited/relied upon by the parties Commissioner of Income-tax vs. Trend Electronics 61 taxman.com 308 (Bombay) …
Reassessment order passed without disposing objections bad in law. Dismissal of SLP by Supreme Court without assigning reasons not a declaration of law ABCAUS Case Law Citation: ABCAUS 2922 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties National Thermal Power Co., Ltd., Vs. CIT …
