Category: Judgments
Service Tax Audit prima facie permissible post GST regime – Calcutta High Court. Authorities entitled to audit for the period when Finance Act 1994 was applicable ABCAUS Case Law Citation: ABCAUS 2730 (2019) (01) HC Important Case Laws Cited/relied upon: Infinity BNKE Infocity Pvt. Ltd. Versus Union of …
When ITAT inspected documents furnished in response to show-cause notice u/s 263 and found transactions not bogus, no interference was called. Supreme Court dismissed SLP of the Revenue ABCAUS Case Law Citation: ABCAUS 2729 (2019) (01) SC Important Case Laws Cited/relied upon: The Revenue had filed an Income …
Malba charges was rejected as cost of investment for claiming deduction u/s 54F as there was no occasion for purchasing malba – ITAT ABCAUS Case Law Citation: ABCAUS 2728 (2019) (01) ITAT The Assessee had challenged the order passed by the CIT(A) in confirming in confirming the action …
No penalty u/s 271D for cash loans taken to meet financial liabilities of a closed business as it constituted a reasonable cause under section 273B – ITAT ABCAUS Case Law Citation: ABCAUS 2727 (2019) (01) ITAT The Assessee hand challenged the order passed by the CIT(A) in confirming …
Statutory liability accrues on issuance of demand notice-ITAT deleted disallowance u/s 43B and allowed payment of Local Body Tax in the year of payment ABCAUS Case Law Citation: ABCAUS 2726 (2019) (01) ITAT The Assessee hand challenged the order passed by the CIT(A) in confirming the disallowance made …
Addition u/s 69C for unexplained expenses on foreign tour along with spouse deleted by Tribunal as it was part of the sponsored dealership entourage ABCAUS Case Law Citation: ABCAUS 2725 (2019) (01) ITAT The assessment was completed under section 153A read with section 143 (3) of the Income …
Cash found during search belonging to parents- ITAT deleted the addition on account of cash belonging to the parents of the assessee found during search ABCAUS Case Law Citation: ABCAUS 2724 (2019) (01) ITAT The assessee was an individual and search and seizure operation u/s 132 of the …
No penalty could be levied on the difference resulted due to adoption of different GP rates made on estimate basis ABCAUS Case Law Citation: ABCAUS 2723 (2019) (01) ITAT Important Case Laws Cited/relied upon: India vs. Dharamendra Textiles 306 ITR 277 ; CIT vs. Sangrur Vanaspati Mills Ltd …
No disallowance u/s 54EC for delay in cheque clearance for investment in REC Bonds which was attributable to the banking channel – ITAT ABCAUS Case Law Citation: ABCAUS 2722 (2019) (01) ITAT This appeal by the assessee was directed against the order of the Commissioner of Income Tax …
Frequency, magnitude of transaction in systematic manner no criteria to hold that the assessee is engaged in a business activity of shares – ITAT ABCAUS Case Law Citation: ABCAUS 2721 (2019) (01) ITAT Important Case Laws Cited/relied upon: Sugamchand C. Shah vs. Assistant Commissioner of Income-Tax ; Gopal …