Category: ITAT
Satisfaction of AO as to incorrectness of claim of the assessee is an essential prerequisite for invoking the provisions of section 14A – ITAT ABCAUS Case Law Citation: ABCAUS 2622 (2018) (11) HC Important Case Laws Cited/relied upon: ACIT Vs. M/s Avon Cycles Ltd. CIT Vs. Abhishek Industries …
Reducing depreciation rate not debatable issue to invoke section 154 for rectification. Error discovered from records constitute apparent error ABCAUS Case Law Citation: ABCAUS 2620 (2018) (11) ITAT Important Case Laws Cited/relied upon: CIT vs. Dr. K.R. Jayachandran (212 ITR 637) CIT vs. dr. B. Venkata Rao (2000) …
ITAT explain the expression wholly and exclusively used in section 37. ‘Wholly” relates to quantification and “exclusively” refers to the motive, objects and purpose of the expenditure. ABCAUS Case Law Citation: ABCAUS 2616 (2018) (11) ITAT The appellant assessee was in appeal before the Tribunal against order of …
TDS on payments to non-residents applicable at rates prescribed under DTAAs, not 20 per cent. Section 206AA not override provisions of Section 90(2) – ITAT ABCAUS Case Law Citation: ABCAUS 2615 (2018) (11) ITAT Important Case Laws Cited/relied upon: Azadi Bachao Andolan vs UOI (2003) 263 ITR 706 …
Commissioner Appeals cannot not enhance assessment unless the assessee had a reasonable opportunity of showing cause against such enhancement – ITAT ABCAUS Case Law Citation: ABCAUS 2614 (2018) (11) ITAT Important Case Laws Cited/relied upon: Gedore Tools Pvt. Ltd. Vs. CIT 238 ITR 268 Spandana Foundation Vs. ADIT …
Compensation received from builder under settlement for failure to give possession of flat within stipulated time held not capital receipts nor interest, hence taxable at all ABCAUS Case Law Citation: ABCAUS 2613 (2018) (11) ITAT Important Case Laws Cited/relied upon: Kettlewell Bullen & Co. Ltd. Vs CIT (10\964) …
Reopening by issue of notice u/s 148 on the basis of AIR information after sending query letter to assessee was not without application of mind nor reasons recorded were reason to mere suspect – ITAT ABCAUS Case Law Citation: ABCAUS 2609 (2018) (11) ITAT The assessee had filed …
Reopening notice after 4 year when escaped income less than 1 lakh is time barred and not tenable in the eyes of law – ITAT ABCAUS Case Law Citation: ABCAUS 2608 (2018) (11) ITAT Important Case Laws Cited/relied upon: Amarnath Agrawal vs. CIT & Anr. (2015) 371 ITR …
False declaration of trucks by transporter-assessee cannot be held guilty for non deduction of TDS u/s 194C as his liability ceased with declaration ABCAUS Case Law Citation: ABCAUS 2606 (2018) (11) ITAT Important Case Laws Cited/relied upon: Steel Authority of India Limited v. Additional Commissioner of Commercial Tax …
No concealment penalty can be levied for only change of head of income – ITAT deleted penalty for change head from capital gains to business income ABCAUS Case Law Citation: ABCAUS 2604 (2018) (11) ITAT Important Case Laws Cited/relied upon: M/s Crown Tradelink Pvt. Ltd. Vs. The ACIT …
