Category: ITAT
Addition u/s 69A for unexplained cash deposited in bank account of the assessee in excess of his yearly salary income deleted In the instant case, the assessee had challenged the order passed by the CIT(A) in upholding the addition made by the Assessing Officer (AO) towards the difference …
Notice u/s 148 issued prior to approval granted by competent authority bad in law In the instant case, the assessee had challenged the order passed by the CIT(A) in upholding the assessment order passed u/s 143(3) r.w.s. 147 of the Income Tax Act, 1961 (the Act) in as …
Undisclosed sales being excess turnover reported in service tax return. Tribunal set aside the addition for de novo proceedings In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition made by the Assessing Officer (AO) towards undisclosed sales on the basis …
Land cannot be considered as non agricultural, simply because of a Farm house located thereon . Existence of a farm house cannot change the classification of land ABCAUS Case Law CitationABCAUS 3504 (2021) (05) ITAT Important case law relied referred:Smt. Sarifabibi Mohmed Ibrahim vs. CIT 204 ITR 631 …
Disallowance of interest on partner’s capital u/s 40(b) restricted to net advances out of interest bearing funds ABCAUS Case Law CitationABCAUS 3503 (2021) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in deleting the addition made by the Assessing Officer …
Sale of property was long term capital gain as assessee held it from the date of advance payment and balance payment was only a follow up action ABCAUS Case Law CitationABCAUS 3502 (2021) (05) ITAT Important case law relied referredCIT vs A Suresh Rao 223 Taxmann 228 (Kar)Principal …
Liability to pay creditors does not ceases merely because assessee could not furnish confirmation of one creditor out of several parties ABCAUS Case Law CitationABCAUS 3498 (2021) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition u/s 41(1) …
Mandatory provisions of Section 153C must be followed before proceeding where AO is same for person searched and third party ABCAUS Case Law CitationABCAUS 3496 (2021) (04) ITAT Important case law relied referred:CIT vs. RRJ Securities Pvt. Ltd. 380 ITR 612 (Del.) (HC)CIT vs. Swar Agencies 397 ITR …
Section 115BBC is silent unlike section 68 which casts obligation on assessee to explain amount credited to the satisfaction of Assessing Officer. ABCAUS Case Law CitationABCAUS 3495 (2021) (04) ITAT Important case law relied referred:CIT vs. Shree Shiv Vankeshwar Educational & Social Welfare TrustITO (Exemption) vs. Shri Narain …
CIT Revision u/s 263 order not mentioning twin conditions of being erroneous and prejudicial to the interest of revenue quashed ABCAUS Case Law CitationABCAUS 3494 (2021) (04) ITAT Important case law relied referred:Malabar Industrial Co. vs. CIT 243 ITR 83 (SC)CIT vs. Max India Ltd. (2007) 295 ITR …
