Category: ITAT
Deposit of TDS under wrong TAN – ITAT directs credit of TDS to the assessee after verification of challan In the instant appeal, the appellant assessee had challenged the order of the CIT(A) in the matter of order passed under Sections 201(1)/201(1A) of the Income Tax Act, 1961 …
If identity and genuineness of loan transactions proved addition on capacity ground can be made only in the hands of investor-ITAT follows SC The appellant assessee had preferred the instant appeal against the order of the CIT(A) in upholding the additions on account of unexplained loan u/s 68 …
Not signing reasons recorded for reopening invalidated the notice u/s 148. ITAT quashed the reopening as issue of the notice without recording reasons The appellant assessee had preferred the instant appeal against the order of the CIT(A) in upholding the reopening the assessment where reasons recorded for issuance …
No disallowance u/s 40(a)(ia) can be made for short deduction of TDS or deduction under wrong head. ITAT follows jurisdictional High Court decision. The point for consideration was as to whether the provisions of section 40(a)(ia) of the Act could be invoked for short deduction of tax at source. …
No disallowance u/s 40(a)(ia) even if payee files return belatedly u/s 139(4) if payment is considered in tax computation and CA certificate is furnished as per proviso to section 201(1)-ITAT ABCAUS Case Law Citation: ABCAUS 2333 (2018) (05) ITAT The appellant assessee had claimed an expenditure under the …
Addition made for Jewellery belonging to mother-in-law deleted. Jewellery found during search was claimed as given to the assessee before her death-ITAT The instant appeal was filed by the appellant assessee against the order of the CIT(A) enhancing the assessment by making an addition for unexplained investment in jewellery u/s …
Addition for cash deposited in joint bank account upheld. A professional like Advocate CA or Accountant would not open a joint bank account with his client The instant appeal was filed by the appellant assessee against the order of the CIT(A) upholding the action of the Assessing Officer …
Initiation of reopening u/s 148 by recording wrong facts not categorically rebutted by the Department held to be arbitrary and bad in law – ITAT The instant appeal was filed by the appellant assessee against the order of the CIT(A) upholding the reassessment proceedings and re-assessment order passed …
Assessee should get full opportunity at every stage of adjudication. Tax laws are not penal and neither so rigid to curb lawful rights of taxpayers-ITAT The instant appeal was filed by the appellant assessee This against the order of the CIT(A) upholding the action of the Assessing Officer …
Section 50C was not applicable on sale of property to tenant who occupied it on a meager rent for fifty years which itself amounted to encumbrance on the property-ITAT The Appellant assessee had filed the instant appeal challenging that the Assessing Officer (AO) had wrongly and illegally calculated …