Category: Income Tax
Addition u/s 68 for cash deposited in bank received from absconding debtor on the ground that notice sent was received back unserved, deleted ABCAUS Case Law Citation: ABCAUS 2822 (2019) (03) ITAT Important Case Laws Cited/relied upon by the parties CIT Vs. Sun Builders, 41 taxman.com 484 (Guj) …
No obligation to deduct TDS when CIT had not rejected Form No. 15G filed by the assessee on the ground of not being filed in time – ITAT ABCAUS Case Law Citation: ABCAUS 2821 (2019) (03) ITAT The appeal in this case was filed by the assessee against …
When AO submitted positive remand report accepting the genuineness of transaction, CIT(A) ought not to have sustained the addition – ITAT ABCAUS Case Law Citation: ABCAUS 2820 (2019) (03) ITAT The appeal in this case was filed by the assessee against the order of CIT(A) in confirmation of …
Penalty u/s 271E for repayment of loan in cash was deleted as the NBFC had insisted on cash payment due to weak financial position and default in loan repayment ABCAUS Case Law Citation: ABCAUS 2819 (2019) (03) ITAT The appeal involved was filed by the assessee against the …
Cash deposits in bank can be explained as out of gross receipts u/s 44AD from contract business. ITAT deleted addition made on the basis of peak cash credit ABCAUS Case Law Citation: ABCAUS 2818 (2019) (03) ITAT The assessee had challenged the order of the CIT (Appeals) in …
Exemption u/s 54F for plot in the name of HUF allowed by ITAT following High Court judgment as members of HUF were not stranger and money was contributed by assessee. ABCAUS Case Law Citation: ABCAUS 2817 (2019) (03) ITAT Important Case Laws Cited/relied upon by the parties CIT …
Addition for inadequate drawings deleted as the assessee was vegetarians and non alcohol, residing at small town with no luxurious life such as Health Clubs, star hotels etc. ABCAUS Case Law Citation: ABCAUS 2816 (2019) (03) ITAT The Revenue had filed the instant appeal against the order of …
It is not uncommon for a lady who is on her own to have cash for emergencies. ITAT upholds the deletion of addition for cash found during search ABCAUS Case Law Citation: ABCAUS 2815 (2019) (03) ITAT The Revenue had filed the instant appeal against the order of …
CBDT Withdraws approval u/s 35(1)(ii) of M/s Bioved Research Society, Allahabad for giving bogus entries to donors F. No. 203/31/2018-ITA (II)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes *** Room No. 245A North BlockNew Delhi, the 28th February, 2019 To All Principal Chief Commissioners of …
CBDT grants Retrospective exemption to startup companies from angel tax w.e.f. 19.02.2019 – Notification MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 13/2019 New Delhi, the 5th March, 2019 S.O. 1131(E).—In exercise of the powers conferred by clause (ii) of the proviso to clause (viib) …
