Category: Income Tax
Addition u/s 69C for unexplained marriage expenses deleted by ITAT noting that in Indian society, family members contribute to wedding in family ABCAUS Case Law Citation: ABCAUS 2709 (2019) (01) ITAT The assessee had appealed against the order of the CIT(A) in sustaining the addition made by the …
Restriction that Auditor can not be an accountant to value FMV u/s 56 as provided in Rule 11UA is well founded – ITAT ABCAUS Case Law Citation:ABCAUS 2708 (2019) (01) ITAT Important Case Laws Cited/relied upon:M/s. Vaani Estates Pvt. Ltd. Vs. ITO (2018) 172 ITD 629Rameshwaram Strong Glass (P) …
Non-issue of Form 16 by employer-High Court asks Department to penalise defaulters u/s 405 of IPC and publish list of defaulters ABCAUS Case Law Citation: ABCAUS 2707 (2019) (01) HC Under the provisions of section 203 of the Income Tax Act, 1961 (the Act) read with Rule 31,every employer …
Settlement Commission order not perverse when every objection raised by the Commissioner, Income Tax as regarding non-disclosure by the assessee is well discussed – HC ABCAUS Case Law Citation: ABCAUS 2706 (2019) (01) HC The Income Tax Department had filed the instant writ petitioner objecting to the order …
When entire investment/payments for flat purchase was made by the assessee in the name of his daughter, the capital gain was liable to be assessed in the hands of the assessee ABCAUS Case Law Citation: ABCAUS 2705 (2019) (01) ITAT Important Case Laws Cited/relied upon: Sanjeev Lal v. …
Merely because some of vouchers did not bear the truck number or driver’s name the transport expenses was not ingenuine – ITAT ABCAUS Case Law Citation:ABCAUS 2703 (2019) (01) ITAT The appellant assessee, a Govt. contractor, was aggrieved by the order of the CIT(A) in confirming the lump …
Tribunal declined to issue direction to AO to reopen cases under section 147 as Department have enough powers u/s 147, 263 and 154 to tax escaped income ABCAUS Case Law Citation: ABCAUS 2701 (2019) (01) ITAT Important Case Laws Cited/relied upon: ITO Vs. Muralidhar Bhagwan das 52 ITR …
Reopening limitation period not stood extended merely for passing reference made by the ITAT when assessee was not a party to the case and was not given opportunity of being heard. ABCAUS Case Law Citation: ABCAUS 2700 (2019) (01) ITAT Important Case Laws Cited/relied upon: Rural Electrification Corporation …
Market value of property with encroachment would always be lower – ITAT directs adoption of valuation u/s 50C prevalent on the date of agreement to sale ABCAUS Case Law Citation:ABCAUS 2699 (2019) (01) ITAT Important Case Laws Cited/relied upon:Dara Singh Vs. ITO Ward-1(2), Ghaziabad and ITA No.2213/Del/2018Sanjeev Lal …
When assessee surrendered exemption claimed on the condition that penalty proceedings u/s 271(1)(c) are not initiated there was no question of concealment of income or furnishing of inaccurate particulars of income. ABCAUS Case Law Citation: ABCAUS 2698 (2019) (01) ITAT Important Case Laws Cited/relied upon: CIT vs. Manjunatha …
