Category: ITAT
Yamuna Expressway Authority-If charitable Institution us 12AA or not to be decided by Allahabad High Court, Questions of Law framed ABCAUS Case Law Citation: 1054 (2016) (11) HC Important Case under consideration: Sri Ramtanu Co-operative Society v. State of Maharashtra Indian Trade Promotion Organization v. Director General of …
Sale-purchase in only few share scrips not high volume. STCG was not business income as a person can act both as trader and investor-ITAT ABCAUS Case Law Citation: 1053 (2016) (11) ITAT Assessment Year 2010-11 Brief Facts of the Case: The appellant assessee was an individual. Her …
No Concealment if return revised due to search of other person when assessee voluntarily filed revised ITR and no proceedings were initiated u/s 153 against him-ITAT ABCAUS Case Law Citation: 1052 (2016) (11) ITAT Important Case considered: Ravi Sud vs. ACIT (2015) 39 ITR (T) 356 CIT vs. …
Depreciation and exemption both not allowable to charitable trust. Statutory provision u/s 32 to prevail over customary practice-commercial principle-ITAT The allowability of the depreciation claim to a charitable trust/institution in calculating prescribed limit of 85% towards income application u/s 11 of the Income tax Act, 1961 was settled …
Satisfaction recording 153C-same AO for searched-other person. Even if AO is one then also satisfaction has to be recorded as held by Supreme Court ABCAUS Case Law Citation: 1050 (2016) (11) ITAT The Grievance: In the instant case both Revenue and the assessee were aggrieved by the …
No disallowance us 40(a)(ia) as labour charges paid were salary when PF-ES deducted regularly. Salary us 17(1) includes wages and TDS 194C not required-ITAT ABCAUS Case Law Citation: 1047 (2016) (10) ITAT The Grievance: The Assessing Officer (AO) was aggrieved by the order of the CIT(A) in deleting …
Detention and Demurrage Charges disallowance us 37(1) deleted as they represented contractual charges paid for delay in loading/unloading of material and are part of normal business activities-ITAT ABCAUS Case Law Citation: 1042 (2016) (10) ITAT Brief Facts of the Case: The appellant Revenue in the present case, among …
Mere 46A application to CIT-A do not justify that papers are on record if the assessee’s application under Rule 46A is declined-ITAT ABCAUS Case Law Citation: 1041 (2016) (10) ITAT Brief Facts of the Case: In the present bunch of 6 appeals for for the Assessment years 2005-06 …
Carry forward set off charitable loss us 11 12 allowed by ITAT despite there being no such provisions but for the various decisions of High Courts ABCAUS Case Law Citation: 1040 (2016) (10) ITAT Brief Facts of the Case: The respondent assessee was a charitable society. The income …
Rakhi Sawant income tax appeals gets both relief and dismissal from ITAT-dismissal for delay, disallowance us 40(a)(ia) remanded assessee being not covered u/s 44AB ABCAUS Case Law Citation: 1037 (2016) (10) ITAT Appeal-1 dismissed for dealy There was a delay of 704 days for filing the appeal. The …
