Category: ITAT
Donations received by college were not capitation fee and generation of surplus did not render it ineligible for claiming exemption u/s 11 and 12 of the Act ABCAUS Case Law Citation: ABCAUS 2643 (2018) (11) ITAT Important Case Laws Cited/relied upon: CIT vs Pulikkal Medical Foundation Private Limited, …
Foreign education expenses of director allowed as business expenditure u/s 37(1) being incurred in furtherance of assessee’s business interest ABCAUS Case Law Citation: ABCAUS 2641 (2018) (11) ITAT The appeal was filed by the assessee against the order of the Commissioner of Income Tax (Appeals) in inter alia …
Unrelated person unlikely to give false evidence to oblige the assessee, said ITAT deleting addition made for cash deposit on the strength of affidavit of lender. ABCAUS Case Law Citation: ABCAUS 2640 (2018) (11) ITAT Important Case Laws Cited/relied upon: Sonar Investment The appeal was filed by the …
Selling cost not part of cost of construction or WIP as per ICAI guidance note on accounting for real estate. ITAT delete addition made to Work in Progress ABCAUS Case Law Citation: ABCAUS 2638 (2018) (11) ITAT The appeal was preferred by the Revenue against the order of …
Concealment penalty for not offering LFC/LTC reimbursement to tax under bonafide belief that it was exempt as the employer did not deduct tax at source, deleted ABCAUS Case Law Citation: ABCAUS 2637 (2018) (11) ITAT The appeal was preferred by the assessee against the order of the Commissioner …
Anonymous donation received by trust running Gaushala not taxable u/s 115BBC, it being a religious activity covered under the exception contained in Section 115BBC ABCAUS Case Law Citation: ABCAUS 2636 (2018) (11) ITAT Important Case Laws Cited/relied upon: Pat. Ram Chandra Shukla Vs. Shree Mhahdeoji, Mahabir Ji and …
Claim for business loss due to theft of cash allowed despite no FIR was lodged with Police Authorities in view of peculiar circumstances and also when Revenue had not suffered ABCAUS Case Law Citation: ABCAUS 2635 (2018) (11) ITAT The appellant assessee was aggrieved by the order of …
Disallowance u/s 40(a)(ia) for non deduction of tax on payments to well-known NBFCs-ITAT remands issue for examination if NBFCs offered income to tax ABCAUS Case Law Citation: ABCAUS 2633 (2018) (11) ITAT Important Case Laws Cited/relied upon: Shri Azmath Ulla vs. ACIT ITO vs. Dr. Jaideep Kumar Sharma …
AO cannot reject the exemption claim u/s 154 only because in return income shown as taxable. There is No estoppel against assessee to claim income exempt – ITAT ABCAUS Case Law Citation: ABCAUS 2632 (2018) (11) ITAT An appeal was filed by the assessee against the impugned order …
Expenditure on glow sign boards was revenue in nature as it did not bring into existence any asset or advantage for enduring benefit to the business of the assessee – ITAT ABCAUS Case Law Citation: ABCAUS 2628 (2018) (11) ITAT Important Case Laws Cited/relied upon: CIT vs. Orient …
