Category: ITAT

Refund granted should be adjusted first towards interest component and balance left if any shall be adjusted towards the tax component – ITAT   ABCAUS Case Law Citation: ABCAUS 2113 (2017) (11) ITAT The Challenge/Grievance: The Revenue was aggrieved by the order of Commissioner of Income Tax Appeals …

Addition based on judicial precedence in other cases unsustainable without first addressing the factual inadequacy of assessee’s explanation – ITAT   ABCAUS Case Law Citation: ABCAUS 2112 (2017) (11) ITAT The Challenge/Grievance: The appellant assessee had challenged the correctness of the order passed by CIT(A) confirming the additions …

Cash received over and above land registry price treated as capital gain for taxation purpose. Addition on account of unexplained income deleted – ITAT ABCAUS Case Law Citation: ABCAUS 2111 (2017) (11) ITAT Brief Facts of the Case: A sum of Rs. 12,50,000/- was deposited by the appellant …

Registration u/s 12AA-Document evidencing creation of Trust could be of any type.  Trust can be created even orally and if Trust is able to give some evidence of its creation by a word of mouth, the same is eligible for registration. ABCAUS Case Law Citation: ABCAUS 2106 (2017) (10) …

Reopening for not replying enquiry letter issued on AIR basis to verify source of investment in the property held invalid for non application of mind by the Assessing Office.   ABCAUS Case Law Citation: ABCAUS 2098 (2017) (10) ITAT The Challenge/Grievance: This appellant assessee had challenged the order …

Affidavit of assessee not accepted as it was signed by some one else on behalf of the assessee and not by the assessee himself. High Court found no illegality in ITAT order.   ABCAUS Case Law Citation: ABCAUS 2095 (2017) (10) HC The Challenge/Grievance: This instant Income Tax …

Cash transactions between husband-wife do not attract section 269SS if transactions are not for commercial use. Tribunal deleted penalty under section 271D ABCAUS Case Law Citation: ABCAUS 2092 (2017) (10) ITAT The Challenge/Grievance: The assessee had challenged the order passed by the CIT(A) which confirmed the order of …

Assessee liable to penalty u/s 221(1) for non payment of self assessment tax under section 140A, where return is revised and tax is paid at the time of filing the revised return of income – ITAT Special Bench Penalty for non payment of self assessment tax where return …

Penalty 271(1)(c) for mistakenly interchanged opening wdv of fixed assets with block of assets admissible a higher rate of depreciation   ABCAUS Case Law Citation: ABCAUS 2089 (2017) (10) ITAT The Challenge/Grievance: The appellant assesseeschallenged the order passed by the CIT(A) confirming action of Assessing Officer  (AO) in …

When assessee filed all details rejectig registration u/s 12AA by the CIT (Exemptions) on the ground that assessee was not interested in prosecuting the application was not consistent with the facts.   ABCAUS Case Law Citation: ABCAUS 2086 (2017) (09) ITAT The Challenge/Grievance: The appellant assessee had filed …