Category: Income Tax

Deduction u/s 80IA claimed in return filed after issue of notice u/s 153A allowable. Supreme Court dismisses SLP of ITD. Company was held developer not contractor ABCAUS Case Law Citation: ABCAUS 2415 (2018) 07 SC In 2016 the Income Tax Department (Revenue) had filed an appeal before the …

Authorities should give specific finding on explanation of assessee in the light of the case law relied upon. ITAT remands penalty u/s 271E for repayment of loan in cash ABCAUS Case Law Citation: ABCAUS 2414 (2018) 07 ITAT The instant appeal was filed by the assessee against the …

Ad hoc disallowance of expenses for personal use of vehicle telephone deleted as AO did not bring any finding of fact against the assessee on record-ITAT ABCAUS Case Law Citation: ABCAUS 2413 (2018) 07 ITAT The instant appeal was filed by the assessee against the order passed by …

Repetition in calculating amount of escaped income was non-application of mind by the AO who persisted with his mistaken belief in rejecting objections but also in adding the entire amount to the returned income – High Court ABCAUS Case Law Citation: ABCAUS 2412 (2018) 07 HC The instant …

When sales accepted as genuine, entire purchases cannot be treated as bogus and added to the income but the profit element – ITAT ABCAUS Case Law Citation: ABCAUS 2411 (2018) 07 ITAT The instant appeal was filed by the assessee against the order of the CIT(A) in The …

Disallowance of Partners remuneration of CA firm deleted by ITAT as the deed mentioned the method of quantification u/s 40(b)(v) of the Income Tax Act ABCAUS Case Law Citation: ABCAUS 2410 (2018) 07 ITAT The instant appeal was filed by a chartered accountants firm against the order of …

Increase in threshold monetary limits for filing Departmental Appeals at Appellate Tribunals, High Courts and the Supreme Court Major Steps taken for Reducing Tax Litigations  In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitate the Ease …

Penalty for concealment can not be imposed when notice issued was for furnishing inaccurate particulars of income – ITAT ABCAUS Case Law Citation: ABCAUS 2409 (2018) 07 ITAT The instant appeal was filed by the assessee against the order of the CIT(A) against the confirmation of penalty levied …

Limitation for passing penalty order u/s 275 not apply where case is transferred to another AO causing delay in initiation of penalty– High Court reverses ITAT decision ABCAUS Case Law Citation: ABCAUS 2408 (2018) 07 HC The instant appeal was filed by the assessee against the order of …

Convents under the Generalate not entitled to 12A Exemption unless a separate entity, entitled to hold property for themselves and has absolute control of its affairs without interference from the Generalate ABCAUS Case Law Citation: ABCAUS 2407 (2018) 07 HC The instant appeal was filed by the assessee …