Category: Income Tax
No question of change of opinion when subject matter income not shown in original return or was not the subject of earlier reopening. High Court upheld double reopening ABCAUS Case Law Citation: ABCAUS 2563 (2018) (10) HC Important Case Laws Cited/relied upon by the parties: Commissioner of Income …
Rejection of books of account for failure to file confirmation from parties not justified. Rejection of a particular expenditure no reason for treating books of account them defective u/s 145(3) ABCAUS Case Law Citation: ABCAUS 2562 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: CIT …
Rejected goods cannot be considered for valuation of closing stock. Therefore there was concealment of income or furnishing of inaccurate particulars of such income ABCAUS Case Law Citation: ABCAUS 2561 (2018) (10) ITAT In the instant case, the appellant assessee had filed the appeal against the order of …
Concealment penalty upheld on profit estimated on suppressed turnover conceded by assessee and quantified on the basis of Form 26AS Statement ABCAUS Case Law Citation: ABCAUS 2560 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: D.K.B. & Co. vs. DCIT 198 Taxman 339 Navjivan Oilk …
Addition made for cash deposits in undisclosed bank account do not hold any force as withdrawals and deposits do not constitute income in itself – ITAT ABCAUS Case Law Citation: ABCAUS 2559 (2018) (10) ITAT The appellant asssessee was aggriebed by the order of CIT(A) in confirming inter …
Mere payment of remuneration to trustees not attract section 13(1)(d) of Income Tax Act unless it is excessive or unreasonable as compared to services rendered ABCAUS Case Law Citation: ABCAUS 2558 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Kamla Town Trust, 279 …
Exclusion inclusion of comparables to determine Arm’s Length Price (ALP) not necessarily give rise to purely legal or substantial questions of law – High Court ABCAUS Case Law Citation: ABCAUS 2556 (2018) (10) HC Important Case Laws Cited/relied upon by the parties: Principal Commissioner of Income Tax v/s …
If asset side of balance sheet is reduced by provision made, it amounts to writing of the debts in accordance with the provision of section 36 (2) of the Income Tax Act, 1961 ABCAUS Case Law Citation: ABCAUS 2554 (2018) (10) ITAT Important Case Laws Cited/relied upon by …
Extension of Tax audit/ITR due date- FTAP withdraws the Petition in Delhi High Court in view of the CBDT Order extending the due dates to 31.10.2018 The division bench comprising of Hon’ble the Chief Justice passed the following order: In view of the order dated 8th October, 2018 …
Jurisdiction of CIT Appeals under the Black Money Act 2015. Region wise list including additional powers for cases of International Taxation Notification F.No. 279/Misc./M-44/2018-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** Room No.12, 5th Floor, Jeevan Vihar Building, Sansad Marg …
