Category: ITAT
If creditors are found to be bogus, entire purchases to be disallowed and not only balance outstanding – ITAT ABCAUS Case Law CitationABCAUS 3647 (2023) (01) ITAT Important Case Laws relied upon:Ipsita Naik vs. ITO In the instant case, both the assessee and the Revenue had challenged the …
Capital Gain exemption u/s 54 denied for investment not out of sale proceeds ABCAUS Case Law CitationABCAUS 3646 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the action of Assessing Officer (AO) in restricting capital gain exemption …
Capital Gain exemption u/s 54F denied for want of proof of delay in construction by the builder as per time frame. ABCAUS Case Law Citation:ABCAUS 3645 (2023) (01) ITAT Important Case Laws relied upon:T Shiva Kumar vs ITO 9158 ITD 329Satish Chandra Gupta vs AO (54 ITD 508) ACIT …
Onus to explain investment sources by wife discharged when she and her husband both admitted that husbands paid the money – ITAT ABCAUS Case Law CitationABCAUS 3644 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition …
Liability of company paid by Director in cash is cash loan u/s 269SS liable to Penalty u/s 271D of the Income Tax Act, 1961. ABCAUS Case Law Citation ABCAUS 3640 (2023) (01) ITAT Important Case Laws relied upon:CIT v. Dimple Yadav, reported in (2015) 280 CTR (All) 309CIT …
Interest paid to legal heirs of deceased partner cannot be disallowed merely on ground of passing book entry on year end – ITAT ABCAUS Case Law Citation ABCAUS 3637 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming …
Interests on capital account has to be calculated on daily product basis not on opening or closing balance of financial year – ITAT ABCAUS Case Law Citation ABCAUS 3636 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming …
40 percent deduction for cash deposit in undisclosed bank account was very liberal as no details/evidences of expenses submitted by assessee says ITAT ABCAUS Case Law CitationABCAUS 3635 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in partly confirming …
Addition for cash deposit upheld for absence of cash flow statement/cash book ABCAUS Case Law CitationABCAUS 3633 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition made on account of cash deposit in bank as cash credits …
Revision u/s 263 to make additions substantively instead of protectively not sustainable – ITAT ABCAUS Case Law Citation ABCAUS 3631 (2023) (01) ITAT In the instant case, the assessment was framed pursuant to search action u/s 132. The Assessing Officer (AO) made additions on protective basis in the …
