Category: Income Tax
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 …
High Court declines to entertain Writ Petition against income tax penalty order in view of alternative remedy available by way of appellate provisions ABCAUS Case Law Citation: ABCAUS 2406 (2018) 07 HC The petitioner assessee had not submitted his return of income an audit reports for the relevant …
No disallowance u/s 36(1)(iii) can be made for cash-in-hand over the certain period of time unless cogent material is brought to show that it was utilized for undisclosed purpose – ITAT ABCAUS Case Law Citation: ABCAUS 2405 (2018) 07 ITAT The instant appeal by the assessee was directed …
Non Satisfaction of AO to suo moto disallowance by assessee u/s 14A has to be an objective satisfaction with notice and opportunity to assessee-Supreme Court dismisses Revenue’s SLP ABCAUS Case Law Citation: ABCAUS 2404 (2018) 07 SC The assessee was a limited company. In its Return of Income for the relevant Assessment Year it had on its …
Unexplained cash credit addition u/s 68 for house constructed deleted on the basis of cash in hand balance in balance sheet filed along with return ABCAUS Case Law Citation: ABCAUS 2403 (2018) 07 ITAT The instant appeal had been filed by the assessee against the Order of the …
Section 234F Late fee for filing ITR-When statistics overrules the mathematics. No surprise if some relaxation is given to the salaried class. Hurrah ! Extension of ITR filing due date of 31st July 2018 to 31st August 2018 by CBDT. The applicability of late fee u/s 234F also …
Inflated value of furniture as part of property sale price to save stamp duty rightly taxed as unexplained cash credit u/s 68 of the Income Tax Act – ITAT ABCAUS Case Law Citation: ABCAUS 2402 (2018) 07 ITAT The instant appeal has been filed by the assessee against …
