Category: ITAT
No disallowance u/s 36(1)(iii) can be made for cash-in-hand over the certain period of time unless cogent material is brought to show that it was utilized for undisclosed purpose – ITAT ABCAUS Case Law Citation: ABCAUS 2405 (2018) 07 ITAT The instant appeal by the assessee was directed …
Unexplained cash credit addition u/s 68 for house constructed deleted on the basis of cash in hand balance in balance sheet filed along with return ABCAUS Case Law Citation: ABCAUS 2403 (2018) 07 ITAT The instant appeal had been filed by the assessee against the Order of the …
Inflated value of furniture as part of property sale price to save stamp duty rightly taxed as unexplained cash credit u/s 68 of the Income Tax Act – ITAT ABCAUS Case Law Citation: ABCAUS 2402 (2018) 07 ITAT The instant appeal has been filed by the assessee against …
Refusal to grant adjournment sought by person not authorized by assessee and passing of ex parte order remanded by ITAT holding that defect could have been rectified ABCAUS Case Law Citation: ABCAUS 2401 (2018) 07 ITAT The instant appeal was filed by the assessee against the order of …
Penalty u/s 271(1)(b) can not be imposed for non compliance of notice issued under section 148 – ITAT ABCAUS Case Law Citation: ABCAUS 2400 (2018) 07 ITAT The instant appeal was filed by the assessee against the order of the CIT-Appeals in upholding the action of the Assessing …
Section 50C not apply to sale of right in property-ITAT deleted addition as what was sold was right in property not land or building ABCAUS Case Law Citation: ABCAUS 2398 (2018) 07 ITAT The appellant assessee had challeneged the order passed by the CIT(A) in upholding the addition …
Section 54F deduction for construction of additional floor in existing building allowed by ITAT as it was an independent dwelling unit with separate kitchen and electric connection ABCAUS Case Law Citation: ABCAUS 2397 (2018) 07 ITAT The appellant assessee had challeneged the order passed by the CIT(A) in upholding …
Reasons recorded for reopening without quantifying amount escaped. Notice issued u/s 148 and reassessment proceedings held null and void ab-initio. ABCAUS Case Law Citation: ABCAUS 2395 (2018) 07 ITAT The instant appeal had been filed by the assessee challenging the order of the Commissioner of Income Tax …
Waiver or One Time Settlement of loan not taxable under section 28 (iv) – ITAT deletes the addition following the judgment of the Supreme Court ABCAUS Case Law Citation: ABCAUS 2394 (2018) 07 ITAT The instant appeal had been filed by the assessee challenging the order of the …
Addition for cash found short at the time of survey deleted by the ITAT. In the absence of any other evidence regarding the user of such cash, it should be considered as utilized for purchasing goods found in excess of book stock. ABCAUS Case Law Citation: ABCAUS 2392 …