Category: ITAT
Employee Salary, legal expenses, board meeting expenses, Director sitting fees can not be attributed to Fixed Deposit interest – ITAT confirms disallowance u/s 57(iii) ABCAUS Case Law Citation:ABCAUS 3719 (2023) (04) ITAT Important Case Laws relied upon:Maruti Insurance Broking (P.) Ltd. vs DCIT 127 taxmann.com 685CIT vs. V. …
Benefit of exemption u/s 11 can not be denied for mere delay in filing of audit-report with return of income – ITAT ABCAUS Case Law Citation:ABCAUS 3718 (2023) (04) ITAT Important Case Laws relied upon:Savitri Foundation vs. ITOWipro Ltd. 446 ITR 1CIT vs. Mumbai Metropolitan Regional Iron & …
Addition u/s 69A for cash gifts received on the occasion of marriage and deposited in bank deleted ABCAUS Case Law Citation:ABCAUS 3715 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the ational Faceless Appeal Centre (NFAC)/CIT(A) in confirming the addition u/s …
Applicability of TDS on property u/s 194IA to be determined transferor or transferee-wise and not property-wise ABCAUS Case Law Citation:ABCAUS 3714 (2023) (04) ITAT Important Case Laws relied upon :Indumukhi Vs Distt CollectorOxcia Enterprises (P) Ltd vs Deputy Commissioner Income TaxVinod Soni Vs Income Tax Officer (2019) 197 …
Adjustment u/s 143(1) by CPC unsustainable if assessment completed u/s 143(3) accepting the return of income – ITAT ABCAUS Case Law Citation:ABCAUS 3713 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the NFAC/CIT(A) in confirming  the adjustment made by the CPC …
Disallowance of Interest on TDS u/s 37(1) is outside the purview of Section 143(1). ITAT allows interest as business expenditure ABCAUS Case Law Citation:ABCAUS 3712 (2023) (04) ITAT Important Case Laws relied upon :M/s. Hebe Infrastructure Pvt. Ltd.M/s. Govindam Clearing Agencies Pvt. Ltd. Vs. DCITDCIT vs. M/s Narayani …
ITAT directs credit of TDS appearing in old PAN of amalgamating company to amalgamated company with another PAN ABCAUS Case Law Citation:ABCAUS 3711 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming not granting the credit of tax …
No liability for TDS when buyers deducted commission and remit only net amount – ITAT quashed disallowance u/s 40(a)(ia) ABCAUS Case Law Citation:ABCAUS 3709 (2023) (04) ITAT Important Case Laws relied upon:CIT vs. Super Religare Laboratories Ltd. 133 taxmann.com 313 (Bombay) In the instant case, the assessee had …
Statement recorded u/s 132(4) is not sacrosanct merely because assessee failed to demonstrate any coercion and duress – ITAT ABCAUS Case Law Citation:ABCAUS 3708 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in upholding   the addition of undisclosed income …
Assessee cannot be asked to explain the bank transactions of an unrelated party  – ITAT deleted addition u/s 69A ABCAUS Case Law Citation:ABCAUS 3707 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition representing alleged unexplained gold …
