Category: ITAT
Once an asset is part of block, depreciation can not be denied non-use. The concept of “use” of assets has to apply upon block as a whole instead of an individual asset. In the instant case, the assessee had challenged the order passed by the CIT(A) in inter …
No concealment penalty for claiming capital expenditure as revenue when there is no conscious and deliberate attempt by assessee to evade tax. In the instant case, the assessee had challenged the order passed by the CIT(A) confirming penalty u/s 271(1)(c) of the Income Tax Act, 1961 (the Act) …
Penalty u/s 271(1)(c) deleted as quantum addition was reduced significantly from 100% to 20% in respect of bogus purchases. In the instant case, the assessee had challenged the order passed by the CIT(A) confirming penalty u/s 271(1)(c) of the Income Tax Act, 1961 (the Act) imposed by the …
CIT assuming jurisdiction u/s 263 has no power to direct initiating penalty proceedings u/s 271(1)(c) CIT Revision u/s 263 for AO accepting revised return without initiating penalty proceedings u/s 271(1)(c) quashed by ITAT following jurisdictional High Court order In the instant case, the assessee had challenged the revisionary …
CIT Revision u/s 263 for failure of AO to convert limited scrutiny into complete scrutiny quashed as no credible material was available In the instant case, the assessee had challenged the revisionary order u/s 263 of the Income Tax Act, 1961 (the Act) passed by the CIT. The …
Retrospective amendment cannot change tax withholding liability with retrospective effect though it changes tax liability in respect of an income with retrospective effect ABCAUS Case Law CitationABCAUS 3521 (2021) (07) ITAT Important case law relied referred:M/s Euro RSCG Worldwide Inc.M/s Virola International Ashapura Minichem Ltd. vs ADIT 131 …
AO not allowed to make addition in the hands of the housewives for cash deposit in bank during demonetization if less than 2.5 lakhs ABCAUS Case Law CitationABCAUS 3520 (2021) (07) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) National Faceless …
Rejection of approval u/s 12AA for non filing of return of income set aside. CIT(E) to find if objects of trust are charitable in nature or not ABCAUS Case Law CitationABCAUS 3519 (2021) (07) ITAT Important case law relied referred:Ananda Social & Educational Trust v/s Commissioner of Income …
Delay in filing appeal condoned as rectification application u/s 154 was not decided and it constitute a sufficient and reasonable cause ABCAUS Case Law CitationABCAUS 3518 (2021) (06) ITAT In the instant case, the appellant assessee had challenged the order passed by the CIT(A) in dismissing the appeal …
Disallowance on ad-hoc basis not justified without pointing out specific expenses being not incurred wholly and exclusively for business In the instant case, the assessee had challenged the order passed by the CIT(A) in sustaining ad-hoc disallowance of 1/5th of the amount of expenditure incurred on account of …