Category: Judgments
Provision of section 68 applicable even if business not commenced but the sum is credited in the books of account of the assessee ABCAUS Case Law Citation: ABCAUS 3010 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: CIT V Bharat Engineering and Cost Co 83 …
Tenancy rights not intangible assets, no question of allowing depreciation on it – ITAT. These rights not covered as “any other business or commercial right” ABCAUS Case Law Citation: ABCAUS 3009 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: M.M. Nissim & Co. vs. ACIT …
No addition warranted for bogus purchases where GP rate was better than the average GP rate declared by assessee for earlier years ABCAUS Case Law Citation: ABCAUS 3008 (2019) (06) ITAT In the instant case, the revenue had challenged the deletion of the addition by the CIT(A) in …
Construction of flats purchasing land amounts to civil construction and profit earned thereon, are eligible for taxation U/s 44AD of the Income Tax Act ABCAUS Case Law Citation: ABCAUS 3005 (2019) (06) ITAT The AO received information from the Director of Income Tax (Inv) that the assessee had …
Disallowance for prior period expenses deleted by the ITAT as the tax rate was the same from one year to another year ABCAUS Case Law Citation: ABCAUS 3004 (2019) (06) ITAT In this appeal, the revenue WAS aggrieved with the order of the CIT(A) in deleting the addition …
CA held guilty of misconduct being engaged in business as director. Difference between director simplicitor and director involved in business activities of company ABCAUS Case Law Citation: ABCAUS 3003 (2019) (06) AA An appeal had been filed by the Appellant Chartered Accountant before the Appellate Authority (AA) against …
Arms Length Price of intra group management fee paid determined Nil by TPO upheld as there was no evidence on record to prove rendition of services. ABCAUS Case Law Citation: ABCAUS 3002 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: 3M India Ltd vs. Addl. …
Penalty u/s 271D for taking cash loan from father and paternal aunt deleted following various decisions of High Courts and Tribunals ABCAUS Case Law Citation: ABCAUS 3001 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Mohan Karkare Vs. DCIT (1995)(127 Taxation 104) CIT v. Sunil …
LTCG exemption denied for Penny stock set aside by ITAT as AO had placed reliance on documents not confronted to the assessee ABCAUS Case Law Citation: ABCAUS 3000 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Kothari Metals Vs. ITO Mr. Sunil H Ashar Vs. …
Levy of fee us/ 234E prior to 01.06.2015. ITAT explains the law on condonation of delay by assessee in filing these appeals before the CIT(A) ABCAUS Case Law Citation: ABCAUS 2999 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Collector, Land Acquisition Vs. MST Katiji …