Category: ITAT
Assumed Service of notice when it not received back not accepted by ITAT as proof of service on the assessee. Order of CIT(A) remanded holding that assessee was prevented by reasonable and sufficient cause for not appearing ABCAUS Case Law Citation: ABCAUS 2657 (2018) (12) ITAT The appeal …
Capital gain addition u/s 50C for unauthenticated cuttings in sale deed for amount of sale consideration remanded back for obtaining copy from the Registering authority ABCAUS Case Law Citation: ABCAUS 2655 (2018) (11) ITAT The instant appeal was filed by the assessee against the order of the Commissioner …
Disallowance of 80IB deduction by passing rectification order u/s 154 quashed as AO took a conscious and considered view to allow deduction which was not mistake apparent – ITAT ABCAUS Case Law Citation: ABCAUS 2654 (2018) (11) ITAT Important Case Laws Cited/relied upon: CIT vs. Krishak Bharti Co-operative …
Disallowance u/s 40A(2)(b) merely for common Directors not sustainable. Invoking the section necessarily implies that such expenses are otherwise allowable – ITAT ABCAUS Case Law Citation: ABCAUS 2653 (2018) (11) ITAT Important Case Laws Cited/relied upon: CIT vs. Enviro Control Associate Pvt. Ltd. 43 taxman.com 291 The appellant …
Peak of both debit and credit entries of seized papers only can be added as undisclosed income, no justification for adding only receipt side of seized papers ABCAUS Case Law Citation: ABCAUS 2651 (2018) (11) ITAT Important Case Laws Cited/relied upon: Tirupati Construction Company 55 taxmann.com 308 (2015 …
Reopening of assessment which is completed u/s 143(1) not sustainable without there being any tangible material coming to the knowledge of AO – ITAT ABCAUS Case Law Citation: ABCAUS 2650 (2018) (11) ITAT Important Case Laws Cited/relied upon: Orient Craft Ltd 354 ITR 536 (Delhi), The assessee’s appeal …
When assessee invested entire capital gain in purchasing land to construct residential house, there cannot be any denial of exemption u/s 54 – ITAT ABCAUS Case Law Citation: ABCAUS 2647 (2018) (11) ITAT Important Case Laws Cited/relied upon: CIT v. Sardarmal Kothari (2008) 302 ITR 286 Mrs. Seetha …
Mere making a claim for set off of losses not furnishing inaccurate particulars of income as it was personal opinion with regard to income-tax – ITAT ABCAUS Case Law Citation: ABCAUS 2646 (2018) (11) ITAT Important Case Laws Cited/relied upon: CIT Vs. Reliance Petroproducts (P) Ltd. (2010) 322 …
Not disclosing accrued FDR interest payable on maturity was not Concealment. Penalty deleted as interest was payable on termination or on maturity ABCAUS Case Law Citation: ABCAUS 2645 (2018) (11) ITAT The instant appeal of the assessee was directed against the order of the Commissioner of Income Tax(Appeals) …
Revisionary order u/s 263 passed against dropping of penalty u/s 271(1)(c) after the expiry of limitation period as provided u/s 275 of the Act was invalid – ITAT ABCAUS Case Law Citation: ABCAUS 2644 (2018) (11) ITAT Important Case Laws Cited/relied upon: Toyota Motor Corporation reported in 306 …
