Category: ITAT
ITAT remanded case for non receipt of notice, says postal services are poor in rural areas. Sometimes the postman delivers the post and sometimes the post is returned by the post office. ABCAUS Case Law Citation: ABCAUS 2956 (2019) (05) ITAT This appeal was filed by the assessee …
AO had no jurisdiction to frame assessment when statutory notices issued at parental house and assessee was living at a different State. ABCAUS Case Law Citation: ABCAUS 2955 (2019) (05) ITAT The assessment proceedings u/s 147 of the Income Tax Act, 1961 (the Act) was initiated against the …
Delay condoned as assessee filed a single appeal against two penalty orders and later realized that a single appeal against two penalty orders passed under different sections not permissible ABCAUS Case Law Citation: ABCAUS 2954 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Manoj Ahuja …
Depreciation on goodwill and non compete fee allowed by the Tribunal in view of the binding judgment of Hon’ble Supreme Court and jurisdictional High Court   ABCAUS Case Law Citation: ABCAUS 2953 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties CIT Vs. Smifs Securities Ltd., …
Reopening u/s 148 for mere non disclosure of bank account in ITR without forming belief that income has escaped assessment, bad in law ABCAUS Case Law Citation: ABCAUS 2952 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties G.K. N. Driveshafts (India) Ltd. vs. ITO (2003) …
Penalty 271A cannot be sustained when assessee was not covered under Rule 6F assessee furnished adequate information to enable AO to compute income ABCAUS Case Law Citation:ABCAUS 2951 (2019) (05) ITAT Important Case Laws Cited/relied upon by the partiesMehta Parvesh vs. ITO 60 TTJ (Del) 278ACIT Vs. M/s …
Applicability of section 115BBE to surrender made during survey is highly debatable. ITAT quashed rectification order imposing higher tax rate ABCAUS Case Law Citation: ABCAUS 2950 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Shri Lovish Singhal, Sriganganagar & Ors. Vs. ITO CIT v/s Bajargan …
Peak credit addition does not include income after peak balance date. ITAT directed addition of further 8% profit after the date of peak value ABCAUS Case Law Citation: ABCAUS 2949 (2019) (05) ITAT The assessee was a partner in a firm. On the basis of the Annual Information …
Entrance fee / onetime fee from new members is capital receipts. Similarly  donation towards corpus fund were also eligible for the exemption ABCAUS Case Law Citation: ABCAUS 2947 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties CIT vs. W.I.A.A. Club Ltd. 136 ITR 569 The …
Profit rate on bogus purchases reduced as assessee also paid VAT on purchases. ITAT directed AO to recompute income after applying profit rate of 8% ABCAUS Case Law Citation: ABCAUS 2946 (2019) (05) ITAT The assessee had appealed against the orders of Commissioner of Income Tax (Appeals) against …
