Category: ITAT
Unexpired AMC charges not income but advance. Due to refund obligation, the whole income did not accrue at the time of entering into contract – ITAT ABCAUS Case Law Citation: ABCAUS 1209 (2017) (04) ITAT The Grievance: The appellant assessee company was aggrieved by the order of the …
Reopening for cash deposits for non response to notice u/s 133(6) is illegal where assessment was completed u/s 143(3)/147 and 4 years have lapsed. Soon after the demonetization, the Income Tax Department (‘Department’) had launched a scheme called “operation Clean money” for online verification of cash deposits in …
Despite more than prescribed Trucks-income computed u/s 44AE at rates prescribed in the section with benefits of salary & partner’s interest-ITAT Order ABCAUS Case Law Citation: ABCAUS 1208 (2017) (04) ITAT The Grievance: In the instant case, both the assessee and the Revenue were in cross-appeals against order …
Penalty notice without specific charges when assessee had no confusion as to if it was for concealment or inaccurate particulars as appeared from his reply. Penalty Upheld by ITAT ABCAUS Case Law Citation: ABCAUS 1207 (2017) (04) ITAT The Grievance: The assessee was aggrieved by order passed by the …
Employees LTC LFC claims for foreign travel not exempt u/s 10(5). Employer rightly treated assessee in default u/s 201(1) and u/s 201(1A) for non deduction of TDS – ITAT Bangalore ABCAUS Case Law Citation:ABCAUS 1206 (2017) (04) ITAT The Grievance:The assessee was aggrieved by order passed by the …
Revisionary order quashed as wrong allowance caused no prejudice to the interest of the Revenue and the twin conditions u/s 263 not satisfied-ITAT ABCAUS Case Law Citation: ABCAUS 1204 (2017) (04) ITAT The Grievance: The Appellant was aggrieved by the order passed by the Commissioner of Income Tax …
Appeal delay condonation-oversight due to election duty. CIT(A) did not find facts false, appellant did not stand to gain by filing belated appeal- ITAT ABCAUS Case Law Citation: ABCAUS 1203 (2017) (04) ITAT The Ground of Appeal: The Appellant was aggrieved by the order passed by the CIT(A) …
No capital gain tax on flat transferred as nominee. The assessee did not inherit the property as owner but as nominee of all legal heirs – ITAT ABCAUS Case Law Citation: ABCAUS 1201 (2017) (04) ITAT The Grievance: The assessee was aggrieved by the order passed by the …
Claim supported by affidavit cannot be rejected without any enquiry or material brought on record to disprove the claim of the assessee – ITAT ABCAUS Case Law Citation: ABCAUS 1200 (2017) (04) ITAT The Grievance: The assessee was aggrieved by the order passed by the CIT(A) confirming the …
Applicability of Presumptive Tax if actual profit is more than presumptive income. Shifting from salary to professional receipts to take benefit u/s 44ADA The Income-tax Act 1961 (‘the Act’) provides for taxation of income on presumptive or deeming basis in the case prescribed businesses. Currently, the benefit of …
