Category: ITAT
Good Work Reward to employee held not constituting bonus u/s 36(1)(ii) and allowable as normal business expenditure u/s 37 of the Act. ABCAUS Case Law Citation:ABCAUS 3078 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Shriram Pistons & Rings Ltd. Vs. Commissioner of Income Tax, (2008) …
Claim for exemption u/s 54B allowed though not made in the return of income. AO had disallowed claim as revised return was not filed ABCAUS Case Law Citation:ABCAUS 3077 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:M/s. Goetze India Pvt. Ltd. Vs. CIT 284 ITR …
No disallowance u/s 40(a)(ia) for short deduction of TDS made at less than prescribed rates. ITAT deleted addition following various judgments of High Courts. ABCAUS Case Law Citation:ABCAUS 3076 (2019) (07) ITAT DCIT vs. Chandabhoy reported in (2012) 17 taxmann. Com 158 (Mum.)CIT-LTU vs. HewlettPackard India Sales (P.) …
Merely making cash payments cannot be a ground for disallowance if section 40A(3) not violated or no defects were found in books of accounts/bills & vouchers ABCAUS Case Law Citation:ABCAUS 3075 (2019) (07) ITAT The assessee had challenged the order of CIT(A) in sustaining the part disallowance out …
Disallowance u/s 40A(3) of payment of partners salary in cash. ITAT remands the case in view of Supreme Court judgment relied upon by the assessee ABCAUS Case Law Citation:ABCAUS 3074 (2019) (07) ITAT The appeal filed by the assessee firm was directed against the exparte order of …
Disallowance u/s 40A(2) for unreasonable increase in directors remuneration deleted as AO not carried out exercise to determine fair remuneration in the similar line and scale of business. ABCAUS Case Law Citation:ABCAUS 3072 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Commissioner of Income Tax Vs. …
Bogus purchases additions not based on average GP or NP declared by the assessee in preceding years or some reasonable or proper criteria deleted by ITAT ABCAUS Case Law Citation:ABCAUS 3071 (2019) (07) ITAT This appeal by the assessee was directed against the order of the CIT (A) …
Depreciation and provision for maintenance on BOT project allowable. ITAT distinguished decision of Bombay High Court & held in assessee’s favour ABCAUS Case Law Citation:ABCAUS 3070 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Progressive Constructions Ltd, reported in (2018) 161 DTR 289Ashoka Infrastructure Ltd vs. …
Corporate membership of club of Managing Director (MD) of the company allowed as incurred wholly and exclusively for the purpose of business of the assessee company ABCAUS Case Law Citation:ABCAUS 3068 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Ankit Metal & Power Ltd vs Addl …
Assessee should maintain accounts pertaining to entire agriculture activity to substantiate the claim of agriculture income – ITAT ABCAUS Case Law Citation:ABCAUS 3067 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Smt. Prem Sundari vs. CIT The present appeal was filed by the assessee against the …
