Category: ITAT

Sales Promotion expenses allowed based on percentage to sales when such expenses were allowed on similar ratio in preceding year.

Sales Promotion expenses allowed based on percentage to sales when such expenses were allowed on similar ratio in preceding year. Sales Promotion expenses allowed based on percentage to sales ABCAUS Case Law Citation: ABCAUS 1213 (2017) (04) ITAT The Grievance: The appellant assessee company was aggrieved by the …

54EC deduction for investment made after 6 months allowed when sales consideration was received late. Tax-payer cannot be asked to do impossible -ITAT

54EC deduction for investment made after 6 months allowed when sales consideration was received late.The tax-payer cannot be asked to do impossible -ITAT 54EC deduction for investment made after 6 months  ABCAUS Case Law Citation: ABCAUS 1211 (2017) (04) ITAT The Grievance: The appellant assessee company was aggrieved …

Reopening for cash deposits for non response to notice u/s 133(6) illegal where assessment was completed u/s 143(3)/147 4 years before

Reopening for cash deposits for non response to notice u/s 133(6) is illegal where assessment was completed u/s 143(3)/147 and 4 years have lapsed. Soon after the demonetization, the Income Tax Department (‘Department’) had launched a scheme called “operation Clean money” for online verification of cash deposits in …

Employees LTC LFC claims for foreign travel not exempt u/s 10(5). Employer rightly treated assessee in default for non deduction of TDS – ITAT

Employees LTC LFC claims for foreign travel not exempt u/s 10(5). Employer rightly treated assessee in default u/s 201(1) and u/s 201(1A) for non deduction of TDS – ITAT ABCAUS Case Law Citation:ABCAUS 1206 (2017) (04) ITAT The Grievance:The assessee was aggrieved by order passed by the CIT(A) …

Revisionary order quashed as wrong allowance caused no prejudice to the interest of Revenue and twin conditions u/s 263 not satisfied-ITAT

Revisionary order quashed as wrong allowance caused no prejudice to the interest of the Revenue and the twin conditions u/s 263 not satisfied-ITAT  ABCAUS Case Law Citation: ABCAUS 1204 (2017) (04) ITAT The Grievance: The Appellant was aggrieved by the order passed by the Commissioner of Income Tax …