Category: ITAT

Form-10 income accumulation delay condonation. When sufficient material is before AO, insistence on the form not warranted-ITAT

Form-10 income accumulation delay condonation. When sufficient material is before AO, insistence on the form not warranted-ITAT

January 25, 2017 Income Tax, ITAT, Judgments
Form-10 income accumulation delay condonation. When sufficient material is before AO, insistence on the form not warranted as held by Allahabad High Court-ITAT   ABCAUS Case Law Citation: ABCAUS 1109 (2017) (01) ITAT Assessment Year : 2010-11 Date of Pronouncement: 11-01-2017 Important Case Laws Cited/relied upon: CIT Vs …
Deduction us 54-Old fund used for construction of new house. It is not mandatory that sale consideration new house should be used for construction-ITAT

Deduction us 54-Old fund used for construction of new house. It is not mandatory that sale consideration new house should be used for construction-ITAT

January 22, 2017 Income Tax, ITAT, Judgments
Deduction us 54-Old fund used for construction of new house. It is not mandatory that only the sale consideration of house sold is to be utilized for purchasing or constructing a new residential house-ITAT ABCAUS Case Law Citation: ABCAUS 1106 (2017) (01) ITAT Assessment Year : 2009-10  Important Case …
Revisionary power us 263-Merely raising query not sufficient. Blindly accepting only part reply is incorrect assumption of facts and non-application of mind

Revisionary power us 263-Merely raising query not sufficient. Blindly accepting only part reply is incorrect assumption of facts and non-application of mind

January 17, 2017 Income Tax, ITAT, Judgments
Revisionary power  us 263-Merely raising query not sufficient.  Blindly accepting only part reply is incorrect assumption of facts and non-application of mind by AO-ITAT ABCAUS Case Law Citation: ABCAUS 1103 (2017) (01) ITAT Assessment Year : 2011-12 Important Case Laws Cited: Anuj Jayendra Shah Vs. PCIT 67 taxmann.com …
Assessment finality on search date reached if time for issuing notice us 143(2) had expired. Additions can be made only if incriminating material found-ITAT

Assessment finality on search date reached if time for issuing notice us 143(2) had expired. Additions can be made only if incriminating material found-ITAT

January 15, 2017 Income Tax, ITAT, Judgments
Assessment finality on search date reached if time for issuing notice us 143(2) had expired.  In such cases additions can be made only if incriminating material found-ITAT ABCAUS Case Law Citation: ABCAUS 1102 (2017) (01) ITAT Assessment Year : 2008-09 Important Case Laws Cited: National Thermal Power Co …
Understated sales rates-AO must bring evidence on record. Assessing Officer should make inquiry from parties to whom sales made to verify sale rates -ITAT

Understated sales rates-AO must bring evidence on record. Assessing Officer should make inquiry from parties to whom sales made to verify sale rates -ITAT

January 12, 2017 Income Tax, ITAT, Judgments
Understated sales rates-AO must bring evidence on record. Assessing Officer should make inquiry from parties to whom sales made to verify sale rates -ITAT ABCAUS Case Law Citation: ABCAUS 1101 (2017) (01) ITAT Assessment Year : 2011-12 Important Case Laws Cited: Shri Manpreet Singh Dhillon Vs ITO Shri …
Reassessment-TDS certificate-PL Account Receipt Difference. Reopening based on difference in TDS certificates and receipts shown in P&L account bad-ITAT

Reassessment-TDS certificate-PL Account Receipt Difference. Reopening based on difference in TDS certificates and receipts shown in P&L account bad-ITAT

January 9, 2017 Income Tax, ITAT, Judgments
Reassessment-TDS certificate-PL Account Receipt Difference. It is a settled law that an assessment could not be reopened only on the basis of difference in TDS certificate and receipts shown in the P&L account.-ITAT ABCAUS Case Law Citation: ABCAUS 1097 (2017) (01) ITAT Assessment Year : 2009-10 Important Case …