Category: ITAT
Exemption u/s 54/54F for house purchased in wife name, Deduction allowed for change in jurisdictional High Court with favourable judgment ABCAUS Case Law Citation:ABCAUS 3292 (2020) (04) ITAT Important case law relied upon by the parties:CIT, Faridabad vs Dinesh VermaCIT vs., Kamal Wahal 351 ITR4CIT vs. Ravinder Kumar …
Tax paid in foreign country not eligible for benefit u/s 91 is expenditure eligible for deduction under section 37(1) of the Act – ITAT ABCAUS Case Law CitationABCAUS 3289 (2020) (03) ITAT Important case law relied upon by the parties:Reliance Infrastructure Ltd versus CIT 390 ITR 271Hindustan Construction …
Trader in scrap not liable to collect TCS u/s 206C if scrap not a result of manufacturing ABCAUS Case Law Citation:ABCAUS 3284 (2020) (03) ITAT Important case law relied upon by the parties:Navine Fluorine International Ltd. vs. ACIT (TDS)Nathulal P. Lavti vs. ITO(TDS)M/s Bharti Auto Products vs. CITDhasawala …
Penalty notice u/s 271AAB without specifying at what percentage the penalty will be levied makes it defective and invalid and deserved to be quashed-ITAT ABCAUS Case Law Citation:ABCAUS 3274 (2020) (02) ITAT Important case law relied upon by the parties:DCIT v/s R. ElangovanRavi Mathur vs. DCITPr. CIT vs. …
Fixed medical allowance to employees taxable without proof that medical expenditure actually incurred. ITAT upheld addition u/s 201(1) for short deduction of TDS ABCAUS Case Law Citation:ABCAUS 3273 (2020) (02) ITAT In the instant case, the appeal was filed by the Branch Manager of LIC (the assessee) against …
For Revision u/s 263, records include records relating to assessment proceedings of preceding assessment years ABCAUS Case Law Citation:ABCAUS 3271 (2020) (02) ITAT Important case law relied upon by the parties:Rotork Controls India Private Limited v. CIT reported in (2009) 314 ITR 62(SC)CIT v. Gabriel India Ltd., reported …
Addition u/s 56(2)(ii) deleted as Law cannot operate in vaccum de-horse ground realities though deeming section not requires any incriminating material ABCAUS Case Law Citation:ABCAUS 3270 (2020) (02) ITAT Section 56(2) of the Income Tax Act, 1961 (the Act) is a deeming provision which creates an artificial …
Non striking of applicable limb of penalty u/s 271(1)(c) in notice. ITAT permits restoration of appeal if issue is decided by Supreme Court in favour of Revenue ABCAUS Case Law Citation:ABCAUS 3269 (2020) (02) ITAT In a recent judgment, Tribunal had dealt with a challenge to the validity …
Assessment framed by AO having no territorial jurisdiction based on Postal Pin Code as per CBDT Notification quashed ABCAUS Case Law Citation:ABCAUS 3268 (2020) (02) ITAT Important case law relied upon by the parties:National Thermal Power Co. Ltd. vs. Commissioner of Income Tax (1998) 29 ITR 383 (SC)Ramshila …
CPC if not satisfied with reply of assessee, has to issue notice u/s 143(2). No disallowance to be made merely on the basis of tax audit report ABCAUS Case Law Citation:ABCAUS 3267 (2020) (02) ITAT Important case law relied upon by the parties:Peerless General Finance & Investment Co. …
