Category: ITAT
Mere providing evidence relied upon by AO no substitute of fundamental right of opportunity for cross-examination – ITAT ABCAUS Case Law Citation:ABCAUS 3705 (2023) (04) ITAT Important Case Laws relied upon by parties:Andaman Timber Industries vs. Commissioner of Central Excise, 314 ELT 641 (SC)I.C.D.S. Ltd. vs CIT 273 …
Section 69 & 115BBE not applicable on excess stock generated out of business income ABCAUS Case Law Citation:ABCAUS 3704 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the action of Assessing Officer (AO) by considering the disclosure …
Income Tax assessment order passed u/s 143(3) supports that party was not bogus, very much existed and carried out business – ITAT ABCAUS Case Law Citation:ABCAUS 3701 (2023) (04) ITAT In the instant appeal, the Revenue had challenged the order of CIT(A) in deleting disallowance made by the …
Payment made by family member for purchase of new property not a bar to assessee in claiming exemption u/s 54F. No one to one co-relation is essential and investment in the name of assessee made within stipulated time is entitled to exemption – ITAT ABCAUS Case Law Citation:ABCAUS …
NFAC did not sent notice to email id mentioned in Form 35. ITAT remand case despite CIT(A) had given finding on the merits. ABCAUS Neutral Case Law Citation:ABCAUS 3697 (2023) (04) ITAT Important Case Laws relied upon by parties:N. Balakrishnan vs. M. Krishnamurthy (1998) 7 SSC 123 (SC)New …
NFAC passes copy paste order narrating wrong facts. ITAT deleted addition towards cash deposits u/s 69A ABCAUS Neutral Case Law Citation:ABCAUS 3696 (2023) (04) ITAT Important Case Laws relied upon by parties:Chuharmal Vs CIT (1988) 172 ITR 250Smt. Srilekha Banerjee and others vs CIT 1964 AIR 697Rajendran & …
Business Promotion Expenses – It is impossible for assessee to produce all persons with whom company had meetings in hotels – ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the disallowance made by the Assessing Officer (AO) towards travelling …
Reporting in Clause 16(d) of Form 3CD – No adjustment by CPC for non business income if declared in return separately – ITAT clarifies the provision Reporting income falling under the head other than “business income” under clause 16(d) of Audit Report (Form 3CD) has triggered CPC intimations …
Forfeiture of advance received on agreement to sale of property is capital receipt not income from other sources ABCAUS Neutral Case Law Citation:ABCAUS 3691 (2023) (03) ITAT Important Case Laws relied upon by parties:Travencore Rubber & Tea Company Ltd. Vs. CIT (2000) 243 ITR 158 (SC)CIT Vs. Meera …
Onus is on assessee to substantiate agricultural income and exemption provisions are to be strictly construed – ITAT ABCAUS Neutral Case Law Citation:ABCAUS 3690 (2023) (03) ITAT Important Case Laws relied upon by parties:CIT v Raja Benoy Kumar Sahas Roy (1957) 32 ITR 466 (SC)Mustafa Ali Khan v. …
