Category: ITAT
There is no deeming fiction u/s 28(va) to tax amount on receipt basis where sum accrued earlier following mercantile system of accounting ABCAUS Case Law Citation: ABCAUS 2918 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties The Morvi Industries Pvt. Ltd. v. CIT (82 ITR …
Payment of house rent to wife residing with assessee in the same house is a colourable devise to avoid legitimate payment of the taxes – ITAT ABCAUS Case Law Citation: ABCAUS 2917 (2019) (05) ITAT The assessee was an individual and deriving income from salary. He filed the …
Reopneing-AO had to act on the basis of reasons to believe and not on reasons to suspect. ITAT quashed the reopening of the assessment. ABCAUS Case Law Citation: ABCAUS 2916 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Aas per AIR information, assessee had sold …
Non doctor running a hospital is not a professional for tax audit turnover limit purpose, but it is a business activity – ITAT deletes penalty u/s 271B ABCAUS Case Law Citation: ABCAUS 2914 (2019) (05) ITAT The appeal was filed by the assessee against the order of CIT(A) …
Unaccounted tax liabilities to be deducted from reserves for levy of deemed dividend u/s 2(22)(e). AO should consider the liability while considering the status of the accumulated profit of the assessee ABCAUS Case Law Citation: ABCAUS 2911 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties …
No Penalty u/s 271(1)(c) without addition-Quantification of penalty depended upon addition made to the income of the assessee – ITAT ABCAUS Case Law Citation:ABCAUS 2910 (2019) (05) ITAT The assessee was in appeal before the Tribunal against the order of the CIT(A) in confirming the penalty imposed by …
Penalty u/s 271(1)(c) for inadvertently not showing salary from second employer deleted as assessee suo moto recalculated and paid the tax along with interest ABCAUS Case Law Citation: ABCAUS 2908 (2019) (05) ITAT The appeal was filed by the assessee against the order of the Commissioner of Income …
Expenditure on advertisement and brand promotion allowed in the year in which incurred wholly and exclusively for the purposes of business ABCAUS Case Law Citation: ABCAUS 2907 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Madras Industrial Investment Corporation Ltd. v. CIT 225 ITR 802 …
Dismissing appeal ex-parte by CIT(A) on very first date of hearing without giving proper opportunity to the assessee to prepare the case was unjustified – ITAT ABCAUS Case Law Citation: ABCAUS 2906 (2019) (05) ITAT The appeal by Assessee was directed against the Order of the CIT(A) whereby …
When bank interest was declared in ITR, it cannot be said that bank account was not disclosed to the Revenue ABCAUS Case Law Citation: ABCAUS 2904 (2019) (05) ITAT The instant appeal was filed by the Assessee against the Order of the CIT(A) on the issue of addition …
