Category: ITAT

Business promotion personal nature gift expenses disallowance without specifying any specific items not connected with business activity deleted by ITAT

Business promotion personal nature gift expenses disallowance without specifying any specific items not connected with business activity deleted by ITAT ABCAUS Case Law Citation: ABCAUS 1077 (2016) (12) ITAT Assessment Year: 2011-12 Date of Judgment: 01-12-2016 Brief Facts of the Case: During the assessment proceedings, The Assessing Officer …

No concealment penalty-non disclosure of disallowance 40(a)(ia) in computation of income as the issue is debatable due to HC decisions

No concealment penalty-non disclosure of disallowance 40(a)(ia) in computation of income as the issue is debatable due to High Court decisions ABCAUS Case Law Citation: ABCAUS 1076 (2016) (12) ITAT Assessment Year: 2008-09 Date of Judgment: 01-12-2016 Brief Facts of the Case: During the scrutiny proceedings of the …

Sales incomplete till goods delivery unless insurable risk passes to buyer. FOR destination basis sales invoice reversal for year end goods in transit valid

Sales incomplete till goods delivery unless insurable risk passes to buyer. FOR destination basis sales invoice reversal for goods in transit at the year end valid-ITAT ABCAUS Case Law Citation: ABCAUS 1072 (2016) (12) ITAT Assessment Year: 2011-12 Date of Judgment: 29-11-2016 Important Case Laws cited: Morvi Industries …

50C provisions not apply to transfer of right in partnership firm. Sale deed of property executed in favour of incoming partners by retiring partners-ITAT

50C provisions not apply to transfer of right in partnership firm. Sale deed was executed in favour of incoming partners for transferring retiring partner’s right in the property belonging to the partnership firm-ITAT ABCAUS Case Law Citation: ABCAUS 1070 (2016) (12) ITAT Assessment Year: 2011-12 Date/Month of Judgment/Order: …
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