Category: ITAT
Asking details of land improvement cost incurred 25 years ago uncalled for. ITAT allows ad-hoc deduction of 25% of cost of improvement claimed. ABCAUS Case Law Citation: ABCAUS 2509 (2018) 09 ITAT This appeal was filed by the assessee against the order of CIT(A) confirming disallowance towards cost …
No ad hoc disallowance without pointing out any deficiency in the books of account or vouchers. ITAT deletes the addition ABCAUS Case Law Citation: ABCAUS 2508 (2018) 09 ITAT Important Case Laws Cited/relied upon by the parties: Commissioner of Excess Profits Tax vs. S.R.V.G. Press Co. 42 ITR …
CA made a big mistake by withdrawing appeal against the penalty order on winning quantum appeal. CIT(A) was not justified to dismiss appeal as withdrawn and not deciding it on merits – ITAT ABCAUS Case Law Citation:ABCAUS 2506 (2018) 09 ITAT Important Case Laws Cited/relied upon by the …
Interest u/s 201(1A) chargeable up to date of payment and not upto the date of filing of return of income by the deductees – ITAT ABCAUS Case Law Citation: ABCAUS 2505 (2018) 09 ITAT The instant appeal was filed by the appellant assessee against the Order of the …
Forming Opinion on assumption of incorrect facts that income has escaped assessment. Reopening quashed as AO did not verify AIR information before taking any action against the assessee ABCAUS Case Law Citation: ABCAUS 2505 (2018) 09 ITAT The instant appeal was filed by the appellant assessee against the …
Non furnishing information on apprehension of political misuse. ITAT upheld penalty u/s 272A(1)(c) for non compliance to summons 131(1A) which assessee claimed as purely witch-hunting ABCAUS Case Law Citation: ABCAUS 2503 (2018) 09 ITAT Important Case Laws Cited/relied upon by the parties: Jamnadas Madhavji & Co. vs. J.B. …
JDA taxation-no capital gain when possession not handed over to builder and only right to enter the property given to demolish and re-construction ABCAUS Case Law Citation: ABCAUS 2498 (2018) 08 ITAT The aforesaid appeal was filed by the assessee against impugned order passed by CIT (Appeals) in …
Concealment penalty for change in method of stock valuation deleted by ITAT. Lower of Cost or market price method was as per ICAI guidelines and was consistently followed thereafter ABCAUS Case Law Citation: ABCAUS 2497 (2018) 08 ITAT The aforesaid appeal was filed by the assessee against impugned …
Addition made for low house hold withdrawals from capital upheld by ITAT rejecting the explanation of of joint family living and expenses ABCAUS Case Law Citation: ABCAUS 2492 (2018) 08 ITAT The instant appeal was filed by the appellant assessee against the order of the CIT(A) in inter …
Booking of flat is not date of acquisition for claim of capital gain exemption u/s 54F. ITAT upheld denial of exemption as asset was not held for more than 3 years ABCAUS Case Law Citation: ABCAUS 2490 (2018) 08 ITAT Important Case Laws Cited/relied upon by the parties: …
