Category: ITAT

Wife share in house purchased from savings and stridhan accepted by deleting addition made u/s 69B as unexplained investment – ITAT

Wife share in house purchased from savings and stridhan accepted by deleting addition made u/s 69B as unexplained investment – ITAT ABCAUS Case Law Citation: ABCAUS 1240 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the CIT(A) in confirming the disallowance made …

AO power to extend time for submission of special audit report u/s 142(2A). Power of suo moto extension was inserted from 01-04-2008 only-Delhi HC

AO power to extend time for submission of special audit report u/s 142(2A). Power of suo moto extension was inserted from 01-04-2008 only-Delhi High Court ABCAUS Case Law Citation: ABCAUS 1237 (2017) (05) HC The Question framed for determination: Did the ITAT fell into error in holding that …

Penalty 271(1)(c) Merely if suppliers not traced at given address not indicative of concealment or furnishing inaccurate particulars

Penalty 271(1)(c) Merely if suppliers not traced at given address not indicative of concealment of income or furnishing of inaccurate particulars-ITAT ABCAUS Case Law Citation: ABCAUS 1231 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the CIT(A) qua confirmation of penalty …

Bogus purchases-when sales not disputed entire addition not warranted. ITAT estimated addition @12.5% of alleged bogus purchases

Bogus purchases-when sales not disputed entire addition not warranted. ITAT estimated addition @12.5% of alleged bogus purchases  ABCAUS Case Law Citation: ABCAUS 1228 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the CIT(A) qua confirmation of addition of bogus purchases to …