Category: ITAT
Addition u/s 68 for unsecured loans/share capital on account of amalgamation as per High Court order deleted as no sum was actually received ABCAUS Case Law CitationABCAUS 3545 (2021) (08) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition …
Once capital gain taxed in hands of individual member of society, same cannot be taxed again in the hands of society ABCAUS Case Law CitationABCAUS 3544 (2021) (08) ITAT Important case law relied referred:Corporation of India Ltd. – 187 ITR 688 (SC)Mohinder Kaur JoshPunjabi Coop House Building Society …
For difference of receipts as per 26AS and books of account, only embedded portion of profits can be added to the income ABCAUS Case Law CitationABCAUS 3540 (2021) (08) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition …
TDS on payment to advertising agency is covered u/s 194C not 194I. Contract need not always be in writing and could be implied also. ABCAUS Case Law CitationABCAUS 3539 (2021) (08) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming …
Data retrieved from Pen-drive and admission by vendors though may have a persuasive value no substantive evidentiary value to make additions. Data retrieved from digital device certificate u/s 65B(4) of Evidence Act must prove its authenticity. In the instant case, the assessee had cjhallenged the order passed by …
Disallowance u/s 36(1)(va) for delayed deposit of employees contribution of EPF. Explanation-5 to section 43B not retrospective – ITAT ABCAUS Case Law CitationABCAUS 3532 (2021) (07) ITAT Important case law relied referred:CIT vs. Vijayshree Ltd.CIT vs. Alom Extrusion Ltd. In the instant case, the assessee had challenged the …
Ex parte best judgment assessment remanded as the assessee was a defunct company which ceased to function and therefore could not submit documents ABCAUS Case Law CitationABCAUS 3531 (2021) (07) ITAT In this case appeal was filed by the assessee against the order of the CIT(A) confirming addition …
Exemption u/s 54F allowed though Capital Gain sale proceed deposited in Nationalised Bank instead of capital gain deposit scheme account ABCAUS Case Law CitationABCAUS 3530 (2021) (07) ITAT In this case appeal was filed by the assessee against the order of the CIT(A) sustaining the addition made by …
Once an asset is part of block, depreciation can not be denied non-use. The concept of “use” of assets has to apply upon block as a whole instead of an individual asset. In the instant case, the assessee had challenged the order passed by the CIT(A) in inter …
No concealment penalty for claiming capital expenditure as revenue when there is no conscious and deliberate attempt by assessee to evade tax. In the instant case, the assessee had challenged the order passed by the CIT(A) confirming penalty u/s 271(1)(c) of the Income Tax Act, 1961 (the Act) …