Category: ITAT
Deduction u/s 36(1)(vii) allowed for sales tax component of bad debts written off in the books of accounts. in any event the deduction has to be allowed u/s 28-ITAT ABCAUS Case Law Citation: ABCAUS 2201 (2018) (02) ITAT Brief Facts of the Case: The Petitioner assessee was a …
Addition made for electricity variation with quantum of production deleted. Lower consumption of electricity for the same quantum of production should be viewed positively and not adversely-ITAT ABCAUS Case Law Citation: ABCAUS 2200 (2018) (02) ITAT The Challenge/Grievance: The instant appeal was filed by the Revenue against the …
Penalty u/s 272A(2)(c) imposed on a bank branch for delay in submitting information called u/s 133(6) deleted as bank branches are subject to various audit and always engaged in service of customers. ABCAUS Case Law Citation:ABCAUS 2193 (2018) (02) ITAT Important Case Laws Cited/relied upon by the parties:Hindustan …
No disallowance for mistake in Transporters declaration details filed u/s 194C with Income Tax Authorities. Deduction is allowable if all conditions were fulfilled – ITAT Prelude: Section 194C contains the provisions for deduction of tax at source on payments made to contractors. Sub section (6) provides an exception …
Addition on account of milling gain on adhoc basis without conducting any enquiry, without any cogent and specific reason or without any material on record deleted-ITAT ABCAUS Case Law Citation: ABCAUS 2180 (2018) (01) ITAT The Challenge/Grievance: The appellant assessee was aggrieved by the order of the CIT(A) …
Additions made due to typing error in Form 3CD is not legally permissible where auditor of the assessee inadvertent committed mistake mentioning wrong amount of profit-ITAT ABCAUS Case Law Citation: ABCAUS 2176 (2018) (01) ITAT The Challenge/Grievance: The assessee was aggrieved by the order of the CIT(A) confirming …
Assessee cannot be penalized for non response or non attendance by creditors in response to notice when all details regarding creditors were furnished discharging the onus. If some enquiry was not completed by AO, the CIT(A) could have also undertaken necessary exercise-ITAT ABCAUS Case Law Citation: ABCAUS 2175 …
No requirement to file Form-10B at the time of registration u/s 12AA. Audit Report in Form 10B is to be filed along with return of income. Rejection application for Registration saying that mere recital of objects or activities without cogent or corroborative evidence not sufficient was wrong when …
No Addition for cash deposits in bank when sufficient cash is in hand. Assessee not supposed to keep track of notes withdrawn from bank and tally them with deposit made in bank account. ABCAUS Case Law Citation: ABCAUS 2173 (2018) (01) ITAT The Challenge/Grievance: The instant appeal was …
Concealment penalty deleted as assessee was unaware of tax on sale of property. Assessee agreed to pay taxes on the capital gain and paid the tax same date the assessment order was passed ABCAUS Case Law Citation: ABCAUS 2172 (2018) (01) ITAT The Challenge/Grievance: The main grievance of …
