Judgments

  • Income Tax

Keeping cash in bank not in hand not mandatory under any law. Cash deposited in bank from withdrawals made long back accepted – ITAT

Keeping cash in bank not in hand not mandatory under any law. Cash deposited in bank from withdrawals made long…

8 years ago
  • Income Tax

Penalty us 271(1)(c) if assessee agreed disallowance to buy peace. Merely because assessee agreed addition, he can not be saddled with penalty-ITAT

Penalty us 271(1)(c) if assessee agreed disallowance to buy peace. Merely because assessee agreed addition, he can not be saddled…

8 years ago
  • Income Tax

Notional interest on loans-advances when no such agreement – It is not necessary to pay interest in absence of such arrangement. Additions deleted by ITAT

Notional interest on loans-advances when no such agreement - It is not necessary to pay interest in the absence of such…

8 years ago
  • Service Tax

Service tax on short term hotel accommodation less than 3 months u/s 65 (105)(zzzzw) is unconstitutional – Delhi High Court

Service tax on short term hotel accommodation less than 3 months u/s 65 (105)(zzzzw) is unconstitutional - Delhi High Court…

8 years ago
  • Income Tax

Adverse view on evidence without opportunity to cross examine witness by the assessee is wrong – ITAT

Adverse view taken on evidence without opportunity to cross-examine It is settled proposition of law that whenever the AO intends to…

8 years ago
  • Income Tax

CIT Appeals wrong in rejecting appeal for non payment of tax when assessee paid tax on admitted return of income and revised return not accepted – ITAT

CIT Appeals wrong in rejecting appeal for non payment of tax when assessee paid tax on admitted return of income…

8 years ago
  • Income Tax

Rent held Business Income not House Property income when the business of the company was to lease its property and to earn rent-Supreme Court

Rent held Business Income not House Property income  When the the assessee company had only one business and that is of…

8 years ago
  • Income Tax

Penalty 271(1)(c) can not be imposed when High Court admits substantial question of law on addition making apparent that it is debatable – ITAT

Penalty 271(1)(c) can not be imposed when High Court admits substantial question of law on quantum addition making apparent that…

8 years ago
  • Income Tax

Penalty 271(1)(c) for claiming Short Term Capital Gain STCG as Long Term Capital Gain LTCG and deduction us 54F quashed by the ITAT

Penalty 271(1)(c) for claiming STCG as LTCG and deduction us 54F quashed by the ITAT holding that if the assessee had not concealed…

8 years ago
  • Income Tax

Penalty us 271FA for late filing AIR Return quashed. Country’s tax laws are complex, complicated and require assistance of specialised tax practitioners

Penalty us 271FA for late filing AIR Return quashed by ITAT considering that the tax laws of the country are complex and…

8 years ago