Category: ITAT

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 In a recent judgment, ITAT Mumbai has held that there could not be capital gain tax on flat transferred as nominee …

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 …

TDS return filing not require directors personal time-Penalty for Late filing confirmed. Timely filing could have been done by hiring professional services – ITAT ABCAUS Case Law Citation: ABCAUS 1198 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order of the CIT(A) in confirming …

Carry forward of loss for belated return with positive income not allowed. Section 80 not use word ‘return of loss’, Section 139(3) talks of loss sustained under specific heads – ITAT ABCAUS Case Law Citation: ABCAUS 1197 (2017) (04) ITAT The Grievance: The assessee was aggrieved by the …

Fair rental value estimated by Income Tax Inspector disapproved by ITAT. FMRV ordered to be ascertained u/s 23(4) by applying percentage of cost  ABCAUS Case Law Citation: ABCAUS 1196 (2017) (04) ITAT The Grievance: The only issue raised by the assessee was against the confirmation of addition for …

Cash book not found at search produced later was eye wash. Allahabad High Court rejects contention that it was with accountant as generally users take only data  ABCAUS Case Law Citation: ABCAUS 1192 (2017) (03) HC The Substantial Question of Law raised: The appeal was admitted inter alia …