Category: Income Tax

Depreciation allowed when asset was not used for a single day during the year due to seizure by bank for loan default – ITAT followed law settled by High Courts ABCAUS Case Law Citation ABCAUS 2367 (2018) 06 ITAT The instant appeal was preferred by the Income Tax Department …

Blind reliance on 26AS Statement to declare income or claim TDS puts you to the risk of income tax notice for concealment and demand for subsequent mismatch of income/TDS or both. I am sure, many of us would have witnessed persons who consider Government machinery as their accountant. …

DVO valuation of property occupied by tenants with court cases going under Rent Control Act set aside by the ITAT as the objections were dealt with by the DVO ABCAUS Case Law Citation ABCAUS 2366 (2018) 06 ITAT The instant appeal was preferred by the assessee against the …

Mentioning PAN in place of TAN in TDS challan-Assessee should not be penalized or punished for technical mistakes when there is no loss to Revenue – ITAT ABCAUS Case Law Citation ABCAUS 2365 (2018) 06 ITAT The instant appeal was preferred by the Income Tax Officer (ITO/Assessing Officer) …

RBI penalty for clerical mistakes not disallowable u/s 37. The genuine clerical mistake cannot be treated as an offense under the Banking Regulations Act – ITAT ABCAUS Case Law Citation ABCAUS 2364 (2018) 06 ITAT The instant appeal was preferred by the assessee against the order of the …

Reopening notice u/s 148 void if original assessment pending in appeal.  ITAT quashed notice where proceedings u/s 153A were pending before CIT(A) ABCAUS Case Law Citation ABCAUS 2363 (2018) 06 ITAT The instant appeal was preferred by the assessee against the order of the Commissioner of Income Tax …

Disallowance challenged and pending in appeal against original assessment u/s 143(3) can not be made again in search assessment framed u/s 153A/153C of the Income Tax Act ABCAUS Case Law Citation ABCAUS 2362 (2018) 06 ITAT The instant appeal was preferred by the assessee against the order of …

New address of Directorate General of Income Tax-Vigilance Directorate General of Income Tax (Vig.) Dyal Singh Public Library Building 1, Deen Dayal Upadhyay Marg, New Delhi-110002 Dated: 07.06.2018 NOTICE It is to inform that the Directorate General of Income Tax (Vigilance) is shifting to new premise at 2nd …

CIT revisional order setting aside dropping of penalty proceedings u/s 271(1)(c) by the AO was quashed by ITAT as AO took one of the possible views as per the  judgment of Apex Court ABCAUS Case Law Citation ABCAUS 2361 (2018) 06 ITAT In the all the cases covered …

Allegation of Planting Register by Income Tax Department during survey rejected by ITAT as apparently an error occurred in recording correct number of pages ABCAUS Case Law Citation ABCAUS 2360 (2018) 06 ITAT The instant appeal was filed by the appellant assessee agitating the Order passed by the …