Judgments

  • Income Tax

Not disclosing accrued FDR interest payable on maturity was not Concealment – ITAT

Not disclosing accrued FDR interest payable on maturity was not Concealment. Penalty deleted as interest was payable on termination or…

5 years ago
  • Income Tax

Revision order passed against dropping penalty u/s 271(1)(c) after expiry of limitation invalid – ITAT

Revisionary order u/s 263 passed against dropping of penalty u/s 271(1)(c) after the expiry of limitation period as provided u/s…

5 years ago
  • Income Tax

Donations received by college were not capitation fee making trust ineligible for claiming exemption u/s 11

Donations received by college were not capitation fee and generation of surplus did not render it ineligible for claiming exemption…

5 years ago
  • Income Tax

Tax deduction by bank before close of financial year do not absolve penalty u/s 271C

Tax deduction by bank before close of financial year would not absolve penalty u/s 271C for non deduction of TDS…

5 years ago
  • Income Tax

Foreign education expenses of director allowed as business expenditure u/s 37(1)

Foreign education expenses of director allowed as business expenditure u/s 37(1) being incurred in furtherance of assessee’s business interest ABCAUS…

5 years ago
  • Income Tax

Unrelated person unlikely to give false affidavit to oblige assessee – ITAT deleted addition

Unrelated person unlikely to give false evidence to oblige the assessee, said ITAT deleting addition made for cash deposit on…

5 years ago
  • Income Tax

Disallowance u/s 14A can not exceed exempt income-Supreme Court dismisses SLP of Department

Disallowance u/s 14A can not exceed exempt income – Supreme Court dismisses SLP of the Department against the judgment of…

5 years ago
  • Income Tax

Selling cost not part of construction / WIP cost as per ICAI guidance note on real estate accounting

Selling cost not part of cost of construction or WIP as per ICAI guidance note on accounting for real estate.…

5 years ago
  • Income Tax

Concealment penalty for not offering LFC/LTC to tax under bonafide belief that it was exempt deleted

Concealment penalty for not offering LFC/LTC reimbursement to tax under bonafide belief that it was exempt as the employer did…

5 years ago
  • Income Tax

Anonymous donation received by trust running Gaushala not taxable u/s 115BBC

Anonymous donation received by trust running Gaushala not taxable u/s 115BBC, it being a religious activity covered under the exception…

5 years ago