Category: Judgments
Revisional order u/s 263 quashed following rule of consistency, Revenue argued that the principle of res judicata has no application in tax law ABCAUS Case Law Citation: ABCAUS 2881 (2019) (04) HC Important Case Laws Cited/relied upon by the parties Income Tax Officer v. DG Housing Projects Limited …
There is distinction between questions of law proposed by appellant for admission of appeal and questions framed by Court – Supreme Court ABCAUS Case Law Citation:ABCAUS 2880 (2019) (04) SC In the instant case, the appeal was filed against the judgment passed by the High Court dismissing the appeal of the Income Tax Department. The …
Without stating whether notices were served on assessee, CIT(A) was not justified in dismissing the appeal of the assessee for non-appearance – ITAT ABCAUS Case Law Citation: ABCAUS 2879 (2019) (04) ITAT In the instant case, the CIT(A) had dismissed the appeal of the assessee on the ground …
Revision of settlement application u/s 245C(1) offering another higher amount not allowed as assessee has to make full and true disclosure ABCAUS Case Law Citation: ABCAUS 2878 (2019) (04) HC Important Case Laws Cited/relied upon by the parties Ajmera Housing Corporation and another v Commissioner of Income Tax …
No disallowance for interest paid on capital work in progress u/s 36(1)(iii) where sufficient interest-free funds available, presumption is that investments were out of such funds ABCAUS Case Law Citation: ABCAUS 2877 (2019) (04) ITAT Important Case Laws Cited/relied upon by the parties Hero Cycles Pvt. Ltd. Vs. …
Penalty u/s 271AAB for undisclosed income declared deleted for no incriminating material found during search and also for notice non specifying the specific limb ABCAUS Case Law Citation:ABCAUS 2876 (2019) (04) ITAT Important Case Laws Cited/relied upon by the partiesSSA’s Emerald Meadows, (2016) 73 taxmann.com 248(SC)Manjunatha Cotton & …
Sale of property mortgaged to bank liable to capital gain tax. Encumbrance created as a guarantee by assessee not deductible u/s 48 of Income Tax Act, 1961 ABCAUS Case Law Citation: ABCAUS 2875 (2019) (04) HC Important Case Laws Cited/relied upon by the parties M. Arunachalam V. CIT, …
Addition u/s 68 made without issuing notice to creditors deleted by ITAT as AO failed to conduct inquiry. Had creditors not responded, addition might be justified ABCAUS Case Law Citation: ABCAUS 2874 (2019) (04) ITAT In the instant case, the assessee was in appeal before the Tribunal against …
Rule 8D can not be applied without giving reasons. Unless AO rejects explanation of the assessee with some reasoning, mere rejection per se not accepted – Supreme Court rejects Revenue’s SLP ABCAUS Case Law Citation: ABCAUS 2873 (2019) (04) SC Important Case Laws Cited/relied upon by the parties …
Merely giving financial assistance by father to sons to purchase properties it could not be said to benami transaction – SC ABCAUS Case Law Citation: ABCAUS 2872 (2019) (04) SC Important Case Laws Cited/relied upon by the parties Thakur Bhim Singh v. Thakur Kan Singh (1980) 3 SCC 72 Binapani Paul v. …