Category: ITAT
No Late Fee 234E can be levied when challan cum statement Form 26QB filed within the due date as required u/s 200(3) rwr 31A(4A) – ITAT ABCAUS Case Law Citation: ABCAUS 2566 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: Mahavir AGENCY vs. Income Tax OFFICER …
Expecting assessee to submit voluminous details at fag end in a short period of time when AO kept assessment proceedings dormant for one year was unjustified – ITAT ABCAUS Case Law Citation: ABCAUS 2565 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: Pr.CIT Vs. Ashokji …
Rejection of books of account for failure to file confirmation from parties not justified. Rejection of a particular expenditure no reason for treating books of account them defective u/s 145(3) ABCAUS Case Law Citation: ABCAUS 2562 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: CIT …
Rejected goods cannot be considered for valuation of closing stock. Therefore there was concealment of income or furnishing of inaccurate particulars of such income ABCAUS Case Law Citation: ABCAUS 2561 (2018) (10) ITAT In the instant case, the appellant assessee had filed the appeal against the order of …
Concealment penalty upheld on profit estimated on suppressed turnover conceded by assessee and quantified on the basis of Form 26AS Statement ABCAUS Case Law Citation: ABCAUS 2560 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: D.K.B. & Co. vs. DCIT 198 Taxman 339 Navjivan Oilk …
Addition made for cash deposits in undisclosed bank account do not hold any force as withdrawals and deposits do not constitute income in itself – ITAT ABCAUS Case Law Citation: ABCAUS 2559 (2018) (10) ITAT The appellant asssessee was aggriebed by the order of CIT(A) in confirming inter …
Mere payment of remuneration to trustees not attract section 13(1)(d) of Income Tax Act unless it is excessive or unreasonable as compared to services rendered ABCAUS Case Law Citation: ABCAUS 2558 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: CIT vs. Kamla Town Trust, 279 …
If asset side of balance sheet is reduced by provision made, it amounts to writing of the debts in accordance with the provision of section 36 (2) of the Income Tax Act, 1961 ABCAUS Case Law Citation: ABCAUS 2554 (2018) (10) ITAT Important Case Laws Cited/relied upon by …
CIT(A) erred by not admitting additional evidences in case restored by Tribunal. Once the matter has been considered by the Tribunal and restored to the files of the CIT(A) there was no question of not admitting the evidences furnished by the assessee – ITAT ABCAUS Case Law Citation: …
Deduction 54B for agricultural land purchased prior to sale deed allowed. Date of actual transfer or even purchase of new land not always relevant – ITAT ABCAUS Case Law Citation: ABCAUS 2551 (2018) (10) ITAT Important Case Laws Cited/relied upon by the parties: CIT Vs. Janardhan Dass 299 …