Category: ITAT
CIT(A) in cryptic order can not reject reconciliation of difference between gross receipts and Form No. 26AS filed before him on the ground that it did not resolve. ABCAUS Case Law Citation:ABCAUS 2696 (2019) (01) ITAT The instant appeal by the assessee was directed against the order of …
CIT(A) direction to initiate fresh reassessment proceeding after deciding assessee’s objections set aside as reassessment was bad in law ABCAUS Case Law Citation: ABCAUS 2692 (2019) (01) HC Important Case Laws Cited/relied upon: Multiplex Trading & Industrial Co. Ltd. 170 (Delhi). G.K.N Driveshafts (India) Ltd. v. ITO: (2003) …
Sale of property was not business income when not held as stock in trade neither was related to the business of the assessee. ABCAUS Case Law Citation: ABCAUS 2690 (2018) (12) ITAT Important Case Laws Cited/relied upon: Venkataswami Naidu & Co. vs. Commissioner of Income Tax 35 ITR …
AO is under obligation to specify the limb of section 271(1)(c) at the time of initiation as well as at the time of levy of penalty. ABCAUS Case Law Citation:ABCAUS 2689 (2018) (12) ITAT Important Case Laws Cited/relied upon:CIT Vs. Shri Samson PerincheryCIT Vs. Manjunatha Cotton and …
CIT is empowered to invoke revisionry powers u/s 263 to direct AO to initiate penalty proceedings u/s 271(1)(c) – ITAT ABCAUS Case Law Citation:ABCAUS 2687 (2018) (12) ITAT Important Case Laws Cited/relied upon:CIT Vs. Ashok ConstructionsCIT Vs. Surendra Prasad AgarwalV. Ramanamurthy RajuStar Diamond Tools Vs. ITOCIT Vs. Paramanand …
Section 50C has no application in case the entire net sale consideration has been applied for acquiring the new house – ITAT ABCAUS Case Law Citation: ABCAUS 2686 (2018) (12) ITAT Important Case Laws Cited/relied upon: DCIT Vs. Dr.Chalasani Mallikarjuna Rao Gyan Chand Batra Vs. ITO (2010) 6 …
No disallowance u/s 40A(3) where payments not claimed as expenditure. ITAT deletes addition as alleged cash payment was made for purchasing fixed assets ABCAUS Case Law Citation: ABCAUS 2685 (2018) (12) ITAT Important Case Laws Cited/relied upon: ACIT V/s Jasmine Buildtech (P) Ltd The appeal was filed by …
Merely cash withdrawals at one point of time cannot be a sole basis for explaining the cash deposit in future. ITAT upheld additions u/s 69. ABCAUS Case Law Citation:ABCAUS 2681 (2018) (12) ITAT Important Case Laws Cited/relied upon: The instant appeal had been filed by the assessee against …
AO should examined return of income and carry out initial investigation before coming to the conclusion that income has escaped assessment – ITAT ABCAUS Case Law Citation:ABCAUS 2680 (2018) (12) ITAT Important Case Laws Cited/relied upon:M/s. Allied Gems CorporationPCIT v/s M/s Shodiman Investments P Ltd.Narain Dutt Sharma v. …
Not providing certified copy of penalty order was reasonable basis for seeking condonation of delay in filing the appeal before the CIT(A) ABCAUS Case Law Citation:ABCAUS 2679 (2018) (12) ITAT This appeal was filed by the assessee against the order of CIT(A) wherein the appeal of the assessee …
