Category: ITAT
AO can not extrapolate numbers on seized dumb document into lakhs. Addition made by deciphering erased figures by forensic report was based on surmises and conjunctures- ITAT ABCAUS Case Law Citation: ABCAUS 2028 (2017) (08) ITAT Assessment Year : 2010-11 Important Case Laws Cited/relied upon by the …
Donation made to BJP-Congress not claimed in return allowed following Supreme Court judgment that ITAT powers not limited in dealing with claim of the assessee not made before AO. ABCAUS Case Law Citation: ABCAUS 1293 (2017) (07) HC The Question for determination: Whether in the facts and in …
If foundational addition is deleted other addition can not stand. CIT(A) cannot do what AO could not have done in original assessment-ITAT ABCAUS Case Law Citation: ABCAUS 1291 (2017) (07) ITAT Assessment Year : 2006-07 Important Case Laws Cited/relied upon: CIT vs. Kanpur Coal Syndicate (1964) 53 ITR …
Exemption us 54F-if investment made before time allowed us 139(4) for filing of belated return. ITAT allowed exemption follwoing High Court judgments ABCAUS Case Law Citation: ABCAUS 1290 (2017) (07) ITAT The Issue: The only issue raised in the instant appeal was against denial of partial exemption u/s …
Deduction claim against LIC Incentive admissible up to 30 percent. From 01.04.1989 Development Officers entitled for reimbursement to the extent of 30% of the incentive bonus-ITAT ABCAUS Case Law Citation: ABCAUS 1286 (2017) (07) ITAT The Grievance: The present appeal by the assessee was directed against the order …
Doubtful advances written off treated as provisions not allowable expenditure u/s 37(1) in contrast to bad debts w/o u/s 36(i)(vii) qua sundry debtor – ITAT ABCAUS Case Law Citation: ABCAUS 1281 (2017) (06) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner …
Mere third party statement of accommodation entries not sufficient to reopen assessment in the absence of any nexus of statement to alleged share applicants-ITAT ABCAUS Case Law Citation: ABCAUS 1279 (2017) (06) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner of …
Appeal before CIT rejected for not filed electronically remanded. Sufficient time to be given to assessee to remove defect by filing e Form-35 – ITAT ABCAUS Case Law Citation: ABCAUS 1278 (2017) (06) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner …
No Addition for upto 10 percent difference in DVOs report and the amount of investment shown by the assessee which is liable to be ignored – ITAT ABCAUS Case Law Citation: ABCAUS 1277 (2017) (06) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by …
Time Limit for assessment-When ITAT simply restored matter to AO for fresh adjudication without any finding or direction, section 153(2A) was applicable and the order was subject to time limitation prescribed. Time Limit for assessment completion u/s 153 ABCAUS Case Law Citation: ABCAUS 1276 (2017) (06) ITAT The …