Category: ITAT
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 …
Disallowance u/s 40A(3) for Cash Payments out of Business expediency deleted by ITAT following Supreme Court judgment ABCAUS Case Law CitationABCAUS 3629 (2023) (01) Important Case Laws relied upon:Attar Singh Gurumukh Singh vs. ITO Ludhiana 1991 AIR 2109 (SC) In the instant case, the assessee had challenged the …
IT support services do not satisfy make available test under India-UK DTAA ABCAUS Case Law CitationABCAUS 3627 (2022) (12) ITAT Important Case Laws relied upon:CIT Vs. Guy Carpenter & Co. Ltd 254 CTR 243H.J. Heinz CompanyDe Beers India Minerals Limited 346 ITR 467Mitsubishi Electric India Ltd ITA No. …
For typographical error assessee has to invoke Section 154 not Appellate Jurisdiction to rectify mistakes committed during assessment proceedings – ITAT ABCAUS Case Law CitationABCAUS 3626 (2022) (12) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in sustaining the additions. The …
