Category: ITAT
Adverse view taken on evidence without opportunity to cross-examine It is settled proposition of law that whenever the AO intends to take adverse view against the assessee on the basis of any evidence, he is required to confront the same to the assessee and if the assessee desires, he …
CIT Appeals wrong in rejecting appeal for non payment of tax when assessee paid tax on admitted return of income and revised return not accepted – ITAT ABCAUS Case Law Citation: 985 2016 (08) ITAT AY: 2007-08 Date/Month of Judgment: August 2016 Brief Facts of the Case: The …
Penalty 271(1)(c) can not be imposed when High Court admits substantial question of law on quantum addition making apparent that addition is debatable – ITAT ABCAUS Case Law Citation: 982 2016 (08) ITAT Assessment Year: 2005-06 Date/Month of Judgment: August 2016 Brief Facts of the Case: During the …
Penalty 271(1)(c) for claiming STCG as LTCG and deduction us 54F quashed by the ITAT holding that if the assessee had not concealed any fact while filing the return and filed the copies of the document along with the return, merely because the sale proceeds were shown as a long term capital gain …
Penalty us 271FA for late filing AIR Return quashed by ITAT considering that the tax laws of the country are complex and complicated and require assistance of specialised tax practitioners. ABCAUS Case Law Citation: 980 2016 (08) ITAT Date/Month of Judgment: August 2016 Important Judgments relied by the assessee: Motilal …
Additional depreciation u/s 32(1)(ii) on Capital Work in Progress converted into plant and machinery during the year is allowable – ITAT ABCAUS Case Law Citation: 976 2016 (07) ITAT Assessment Year: 2006-07 Date/Month of Judgment/Order: July 2016 Important Judgments Cited: JCIT vs. Lotus Energy (India) Ltd. 68 taxmann.com …
Forming opinion on the basis of information received by Investigation wing does not amount to satisfaction of the AO to reopen the case u/s 147 – ITAT ABCAUS Case Law Citation: 975 2016 (07) ITAT Assessment Year: 2004-05 Date/Month of Judgment: July 2016 Important Case Laws/Judgments  Cited: Pr. …
Document pertaining to earlier year also constitutes record and if the same is over-looked, it amounts to a mistake apparent on record u/s 154 – ITAT ABCAUS Case Law Citation: 974 2016 (07) ITAT Assessment Year: 2009-10 Date/Month of Judgment: July 2016 Important Judgments cited: Sunil Sahni vs. …
Unrecoverable out of pocket expenses allowable u/s 37(1) as business loss though not admissible as bad debts written off u/s s 36(1)(vii) – ITAT ABCAUS Case Law Citation:973 2016 (07) ITATAssessment Year: 2010-11Date/Month of Judgment: July 2016 Brief Facts of the Case:The assessee firm was engaged in rendering legal services including …
No disallowance us 40aia if Form 15G 15H not furnished to Commissioner as there is no liability to deduct TDS. In such cases remedy has been provided u/s 272A(2)(f) – ITAT ABCAUS Case Law Citation: 972 2016 (07) ITAT Assessment Year(s) : 2007-08, 2010-11 Date/Month of Judgment : …
