Category: Income Tax
Notice us 271(1)(b) on printed format with tick mark without striking off the non applicable clause quashed on the ground that charge was not specific. ITAT Delhi, in a recent judgment, has quashed notice u/s 271(1)(b) on printed format with only tick mark with striking off the not …
Royalty and fee for technical assistance held revenue expenditure not capital as on termination of agreement all rights of the assessee stood extinguished. The judgment was delivered by the Hon’ble Allahabad High Court in a batch of similar cases. ABCAUS Case Law Citation: ABCAUS 1160 (2017) (03) HC Question …
CBDT Chairman asks prosecution proceedings initiation against entry operators, bogus LTCG claimants, cases rejected by Settlement Commission etc. GOVERNMENT OF INDIA Ministry of Finance/Department ot Revenue Central Board of Direct Taxes North Block, New Delhi- 110001 email: chairmancbdt@nic.in Tele :23092648 & Telefax :23092544 SUSHIL CHANDRA Chairman, CBDT & …
Section 68 additions not applicable to deposits in bank. The bank Pass Book or bank statement are not books of account maintained by the assessee – ITATÂ ABCAUS Case Law Citation: ABCAUS 1159 (2017) (03) ITAT Important Case Laws Cited/relied upon: Smt. Manasi Mahendra Pitkar vs. ITO Bhaichand …
CBDT Chairman asks for close monitoring of collections through advance tax, TDS and recovery from arrears and current demand  on weekly basis GOVERNMENT OF INDIA Ministry of Finance/Department ot Revenue Central Board of Direct Taxes North Block, New Delhi- 110001 email: chairmancbdt@nic.in Tele :23092648 & Telefax :23092544 SUSHIL …
System error showing agricultural income in return to AO. Addition made deleted by the ITAT as in the ITR downloaded such income  was NIL ABCAUS Case Law Citation: ABCAUS 1158 (2017) (03) ITAT Assessment Year : 2011-12 Brief Facts of the Case: The assessee filed her return …
Gross Profit rate can not be same each year. AO could not step into the shoes of businessman to determine sale price. Addition made for low GP deleted by ITATÂ ABCAUS Case Law Citation: ABCAUS 1157 (2017) (03) ITAT Assessment Year : 2008-09 Date/Month of Pronouncement: March-2017 Important …
Non-furnishing reopening reasons despite request vitiates the reopening of assessment. Order passed u/s 148 quashed and declared illegal by ITAT ABCAUS Case Law Citation: ABCAUS 1156 (2017) (03) ITAT Question for determination: Whether non-furnishing of the reasons for reopening, after the specific request for the same is made …
Assessment in individual status bad when notice issued to HUF Assessment set aside when notice u/s 148 was issued in the name of HUF-ITATÂ ABCAUS Case Law Citation: ABCAUS 1155 (2017) (03) ITAT Assessment Year : 2008-09 Date/Month of Pronouncement: March-2017 Important Case Laws Cited/relied upon: Suraj Mal, …
Disallowance us 40A(3) when income-profits are estimated. ITAT following Allahabad High Court judgment deletes additions for cash payments u/s 40A(3) ABCAUS Case Law Citation: ABCAUS 1154 (2017) (03) ITAT The Ground of Appeal: In the present appeal, the assessee, inter alia raised a ground challenging the order of …
