Category: ITAT
Relinquishing ESOP right accrued are taxable as capital gains not profits in lieu of salary u/s 17(3)(iii) – ITAT ABCAUS Case Law Citation ABCAUS 3625 (2022) (12) ITAT Important Case Laws relied upon:CIT vs. Sarangpur Cotton Manufacturing Co. Ltd., 6 ITR 36CIT vs. A. Krishnaswami Mudaliar & Ors. …
Assessee’s time cannot be taken for granted by Income Tax Department. Assessee can not be made to appear before the tax authorities again and again ABCAUS Case Law Citation ABCAUS 3624 (2022) (12) ITAT Important Case Laws relied upon:Alkaben B. Patel vs. ITO43 Taxmann.com 333 (Ahm)Sujatha Ramesh vs. …
Investor companies having low income and assets in the form of investments have been created through rotation of money in between the group companies not enough ground to prove that any unaccounted money of the assessee has been introduced in the assessee company warranting addition under section 68 …
Issues already considered by CIT(A) in his order, cannot be again a subject matter of revision by Pr CIT u/s 263 ABCAUS Case Law Citation ABCAUS 3622 (2022) (12) ITAT Important Case Laws relied upon:Southern Motors vs State of Karnataka (2017) 3 SCC 467 (SC) In the instant …
Penalty u/s 271(1)(b) quashed as notice u/s 142(1) issued but no finding was as to if it was served on assessee. ABCAUS Case Law Citation ABCAUS 3613 (2023) (10) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming penalty u/s …
When appeal is pending before CIT(A), revisionary jurisdiction u/s 263 can not be exercised – ITAT ABCAUS Case Law CitationABCAUS 3612 (2022) (09) ITAT Important Case Laws relied upon by parties Smt. Renuka Philip vs. ITO 409 ITR 567 (Mad)CIT vs. Vam Resorts and Hotels Pvt. Ltd. 418 …
Income Tax appeals cannot be proceeded with during the continuance of the proceedings under IBC ABCAUS Case Law CitationABCAUS 3611 (2022) (09) ITAT Important Case Laws relied upon by parties Ghanashyam Mishra And Sons vs Edelweiss Asset Reconstruction (2021) 126 taxmann.com 132 (SC)Mahavir Roads & Infrastructure Pvt. Ltd., …
Deduction u/s 54. Assessee cannot be blamed for the delay in housing projects by the builder as sections 54 and 54F are beneficial provisions. In a recent judgment, ITAT has held that deduction u/s 54 can not be denied for the delay in housing projects by the builder …
Higher consumption of electricity by itself is not a ground to infer suppression of production by the assessee ABCAUS Case Law Citation ABCAUS 3603 (2022) (06) ITAT Important case law relied referred:Prinik Steels Private LimitedITO vs. Satyanarayan PareekCIT vs. Gajalaxmi Steel Pvt. Ltd.CIT vs. Khambhatta Family Trust In …
Expression ‘without making inquiries or verification’ in Section 263 to be read in conjunction with the words ‘which should have been made’. ABCAUS Case Law CitationABCAUS 3602 (2022) (06) ITAT The Appellant/Assessee had challenged the Order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 …
