Category: ITAT

Disallowance u/s 40A(3) for cash payment to BSNL deleted as BSNL is a State and payments were made for business expediency and were not doubted – ITAT ABCAUS Case Law Citation: ABCAUS 2231 (2018) (03) ITAT Section 40A(3) of the Income Tax Act, 1961 (the Act) puts an …

Concealment penalty u/s 271(1)(c) deleted on humanitarian grounds as the assessee had died, his business was closed and his widow was depositing the quantum demand-ITAT ABCAUS Case Law Citation: ABCAUS 2230 (2018) (03) ITAT The appellant assessee was aggrieved by the order of the CIT(A) in confirming the …

No scope for imposing penalty u/s 271A in the case of Civil Contractor which is covered u/s 44AA(2) and is not carrying on any specified profession – ITAT ABCAUS Case Law Citation: ABCAUS 2229 (2018) (03) ITAT Prelude: Section 44AA if the Income Tax Act, 1961 provides for …

TDS on testing and commissioning services deductible u/s 194C as contractual payments as not as fees for technical services u/s 194J-ITAT follows High Court decision  ABCAUS Case Law Citation: ABCAUS 2228 (2018) (03) ITAT Important Case Laws Cited/relied upon by the parties Pr. CIT Vs. Bharat Heavy Electricals …

ITAT restores registration u/s 12AA cancelled for money laundering through donation received in lieu of cash as the amount received was applied for its objects and the allegation was based solely on sworn statement during survey proceedings. ABCAUS Case Law Citation: ABCAUS 2211 (2018) (02) ITAT Important Case …

Booking of flat with builder is construction within the meaning of section 54 and hence period of three years apply for construction of new house for claiming LTCG dedcution- ITAT ABCAUS Case Law Citation: ABCAUS 2206 (2018) (02) ITAT The Challenge/Grievance: The Revenue was aggrieved by the order …

Assessment made on revised ITR with fake figures filed for bank loan purpose quashed as the original return was belated and revised return was invalid legally.   ABCAUS Case Law Citation: ABCAUS 2202 (2018) (02) ITAT Brief Facts of the Case: The appellant assessee was an individual engaged …

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 …