Category: ITAT
No disallowance u/s 40A(3) even if aggregate payment exceeds Rs 20000 if payment is made in cash against different bills none exceeding Rs. 20,000/ ABCAUS Case Law Citation: ABCAUS 2296 (2018) (04) ITAT Prelude: Finance Act, 2008 made amendment to the provisions of sub-section (3) of section 40A …
Self-made vouchers would not make expenses not genuine unless they do not carry necessary details like address of the recipient or signature-ITAT deleted the adhoc disallowance. ABCAUS Case Law Citation: ABCAUS 2295 (2018) (04) ITAT The appellant assessee had challeneged the order passed by the Commissioner of Income …
AO obliged to give eligible deductions when making additions for income not disclosed in return of income-ITAT allowed 54F deduction for sale of property not disclosed in ITR ABCAUS Case Law Citation: ABCAUS 2294 (2018) (04) ITAT The appellant assessee had challeneged the order passed by the Commissioner of …
Question of source of purchase relevant only for year of purchase not sale. Bank deposits made out of property sold as POA was not unexplained-ITAT ABCAUS Case Law Citation: ABCAUS 2293 (2018) (04) ITAT The appellant assessee had challeneged the order passed by the Commissioner of Income Tax …
Deduction 54F-House used for commercial activity not counted for limit of one residential house on the date of transfer of the original asset- ITAT ABCAUS Case Law Citation: ABCAUS 2289 (2018) (04) ITAT The appellant assessee was aggrieved by the order That the CIT(Appeals sustaining the addition made …
Levy of fee u/s 234E before 01.06.2015-in view of difference between High Courts, the one in favour of assessee needs to be followed where decision of Jurisdictional High Court is not in against-ITAT ABCAUS Case Law Citation: ABCAUS 2288 (2018) (04) ITAT The assessee had filed the instant …
Unilateral writing off liability in the books of creditor can not be taxed u/s 41 in the hands of the assessee unless assessee was party to the settlement had the knowledge of writing off – ITAT ABCAUS Case Law Citation: ABCAUS 2279 (2018) (04) ITAT Important Case Laws …
AO not required to adjudicate oral objection on reopening of assessment u/s 148 in the absence of any specific objection made in writing-ITAT ABCAUS Case Law Citation: ABCAUS 2278 (2018) (04) ITAT In the instant case, the appeal was preferred by the assessee against the order of the …
Repeated purchase of same scrip and immediate sale on daily basis to take advantage of the market fluctuations was business income not short term capital gains u/s 111A- ITAT ABCAUS Case Law Citation: ABCAUS 2276 (2018) (04) ITAT Important Case Laws Cited/relied upon by the parties CIT vs. …
Roads and common facilities area in land development agreement also part of assessee’s share in land for capital gain purpose and had to be in the same ratio-ITAT ABCAUS Case Law Citation: ABCAUS 2275 (2018) (04) ITAT The Assessing Officer (AO) had the information that the assessee and …