Category: Judgments
40 percent deduction for cash deposit in undisclosed bank account was very liberal as no details/evidences of expenses submitted by assessee says ITAT ABCAUS Case Law CitationABCAUS 3635 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in partly confirming …
Entrance fee received by Club capital receipt not revenue. Supreme Court dismissed SLP of the Income Tax Department ABCAUS Case Law Citation ABCAUS 3634 (2023) (01) SC Important Case Laws relied upon:CIT vs. Diners Business Services Pvt. Ltd 263 ITR 1 (Bom.) In the instant case. SLP was …
Addition for cash deposit upheld for absence of cash flow statement/cash book ABCAUS Case Law CitationABCAUS 3633 (2023) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition made on account of cash deposit in bank as cash credits …
Goods manufactured using advance modern/ technology not diversification i.e. different commercial activity – Supreme Court denies exemption u/s 4A of UP Trade Tax Act.  ABCAUS Case Law Citation ABCAUS 3632 (2023) (01) SC Important Case Laws relied upon:Commissioner of Sales Tax, Orissa and Anr. Vs. Jagannath Cotton Company …
Revision u/s 263 to make additions substantively instead of protectively not sustainable – ITAT  ABCAUS Case Law Citation ABCAUS 3631 (2023) (01) ITAT In the instant case, the assessment was framed pursuant to search action u/s 132. The Assessing Officer (AO) made additions on protective basis in the …
Applicability of interest tax on interest component in hire-purchase agreement. Supreme Court set asides the addition and upheld fact findings of ITAT ABCAUS Case Law Citation ABCAUS 3630 (2023) (01) Important Case Laws relied upon:The Commissioner of Income Tax v. M/s Muthoot Leasing & Finance LimitedSundaram Finance Limited …
Disallowance u/s 40A(3) for Cash Payments out of Business expediency deleted by ITAT following Supreme Court judgment ABCAUS Case Law CitationABCAUS 3629 (2023) (01) Important Case Laws relied upon:Attar Singh Gurumukh Singh vs. ITO Ludhiana 1991 AIR 2109 (SC) In the instant case, the assessee had challenged the …
High Court jails Deputy Commissioner of Income Tax in contempt case to send down a correct signal to Income Tax Department ABCAUS Case Law Citation ABCAUS 3628 (2023) (01) HC Important Case Laws relied upon:Sebastian M. Hongray Vs. Union of India; (1984) 3 SCC 82.T.N. Godavarman Thirumulpad (102) …
IT support services do not satisfy make available test under India-UK DTAA ABCAUS Case Law CitationABCAUS 3627 (2022) (12) ITAT Important Case Laws relied upon:CIT Vs. Guy Carpenter & Co. Ltd 254 CTR 243H.J. Heinz CompanyDe Beers India Minerals Limited 346 ITR 467Mitsubishi Electric India Ltd ITA No. …
For typographical error assessee has to invoke Section 154 not Appellate Jurisdiction to rectify mistakes committed during assessment proceedings – ITAT ABCAUS Case Law CitationABCAUS 3626 (2022) (12) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in sustaining the additions. The …
