Category: ITAT
Disallowance u/s 14A read with Rule 8D beyond scope of rectification u/s 154 as the issue relating to applicability of section 14A is debatable – ITAT ABCAUS Case Law Citation: ABCAUS 2055 (2017) (08) ITAT The Grievance: The appeal filed by the assessee was directed against the order …
TDS provisions not applicable on internet leaseline charges u/s 194-I 194C or 194J of Income Tax Act as assessee only availed internet connection and was not using any asset, plant or machinery which involved payment of rent. ABCAUS Case Law Citation: ABCAUS 2052 (2017) (08) ITAT Important …
TDS Provision not applicable where no claim of expenditure was made by the assessee and assessee suo motu made disallowance u/s 40(a)(ia) of the Income Tax Act ABCAUS Case Law Citation: ABCAUS 2051 (2017) (08) ITAT Assessment Year : 2008-09 and 2010-11 Brief Facts of the Case: …
Book entry transfer of share application money to capital reserve account could not be regarded as benefit or perquisite arising in course of business u/s.28(iv) – ITAT Book entry transfer of share application money to capital reserve ABCAUS Case Law Citation: ABCAUS 2047 (2017) (08) ITAT The …
Interest on fixed deposits during construction period held not taxable as FDRs were made out of share application money and not borrowed fund ABCAUS Case Law Citation: ABCAUS 2046 (2017) (08) ITAT Assessment Year : 2009-10 Important Case Laws Cited/relied upon by the parties: Tuticorin Alkali Chemicals …
Penalty notice issued after completion of assessment proceedings illegal. Where no proceedings relevant to assessment year are pending penalty notice was issued is bad in law – ITAT ABCAUS Case Law Citation: ABCAUS 2043 (2017) (08) ITAT The Grievance: The Revenue has filed an appeal against the Order …
Penalty u/s 271(1)(c) invalid for assessment made in search cases u/s 158BC of the Income Tax Act. Penalty proceedings initiated and completed under wrong sections invalid-ITAT ABCAUS Case Law Citation: ABCAUS 2040 (2017) (08) ITAT Assessment Year : Block Period 1987-88 to 1997-98. Brief Facts of the Case: …
Delay in submission of form 15G 15H not make bank assessee in default for non deduction of tax at source. Demand can not be raised without verification of Forms – ITAT ABCAUS Case Law Citation: ABCAUS 2039 (2017) (08) ITAT The Grievance: This appeal was preferred by the …
Revision u/s 263 Limitation where assessment completed u/s 143(1) was reopened u/s 147. Jurisdiction u/s 263 could not be exercised after two years on issues which were not subject matter of consideration while passing the order of reassessment u/s 143(3) / 147 – ITAT ABCAUS Case Law …
Exemption u/s 54B-Use of land for agricultural purposes for full two years not necessary. Even if only Kharif crop was cultivated between two years, condition of Section 54B complied with – ITAT ABCAUS Case Law Citation: ABCAUS 2036 (2017) (08) ITAT Assessment Year : 2012-13 Important Case Laws …
