Category: ITAT
No disallowance for overpricing if party assessed at maximum marginal rate and there is no loss of Revenue. ABCAUS Case Law Citation: ABCAUS 2085 (2017) (09) ITAT The Challenge/Grievance: This was an appeal filed by Revenue against the order of CIT(A) whereby he had deleted the additions …
Additions u/s 68 and 69 for transfer entries in capital account on account of rectification can not be sustained treating it alleged unexplained credit and unexplained investments – ITAT ABCAUS Case Law Citation: ABCAUS 2082 (2017) (09) ITAT The Challenge/Grievance: The present appeal was been filed by …
Disproportionate increase in expenses in relation to turnover can not be reason in itself for making adhoc disallowance without cogent material – ITAT ABCAUS Case Law Citation: ABCAUS 2076 (2017) (09) ITAT Assessment Year : 2012-13 Brief Facts of the Case: The Petitioner assessee had claimed certain expenses. …
Agreement for the supply of equipments-No TDS deductible u/s 194C of Income Tax Act as per provisions of law, case laws, circulations & clarifications-ITAT ABCAUS Case Law Citation: ABCAUS 2063 (2017) (09) ITAT The Grievance: The Revenue had filed this Appeal against the order passed by the …
On making valid declaration under Direct Tax Resolution Scheme 2016, appeal in respect of the disputed income pending before CIT(A) shall be deemed to have been withdrawn. ABCAUS Case Law Citation: ABCAUS 2061 (2017) (09) ITAT The Issue: The issue raised was against the dismissal of the …
Local puja and festival committees donations allowed as business expenditure as those contributions were paid to avoid confrontation and to smooth running of the business. ABCAUS Case Law Citation: ABCAUS 2057 (2017) (09) ITAT Assessment Year : 2011-12 Brief Facts of the Case: The assessee had claimed …
Registration 12AA cannot be denied on the ground of dissolution clause not providing transfer of income and assets to another similar institution registered u/s 12AA ABCAUS Case Law Citation: ABCAUS 2056 (2017) (08) ITAT Brief Facts of the Case: The Assessee was an university which had come into …
Disallowance u/s 14A read with Rule 8D beyond scope of rectification u/s 154 as the issue relating to applicability of section 14A is debatable – ITAT ABCAUS Case Law Citation: ABCAUS 2055 (2017) (08) ITAT The Grievance: The appeal filed by the assessee was directed against the order …
TDS provisions not applicable on internet leaseline charges u/s 194-I 194C or 194J of Income Tax Act as assessee only availed internet connection and was not using any asset, plant or machinery which involved payment of rent. ABCAUS Case Law Citation: ABCAUS 2052 (2017) (08) ITAT Important …
TDS Provision not applicable where no claim of expenditure was made by the assessee and assessee suo motu made disallowance u/s 40(a)(ia) of the Income Tax Act ABCAUS Case Law Citation: ABCAUS 2051 (2017) (08) ITAT Assessment Year : 2008-09 and 2010-11 Brief Facts of the Case: …
