Category: Judgments
Share Capital/Premium can not be regarded as undisclosed income. High Court deleted addition made for share premium u/s 68 ABCAUS Case Law Citation: ABCAUS 2478 (2018) 08 HC Important Case Laws Cited/relied upon: Commissioner of Income Tax v. Electro Polychem Ltd. (2007) 294 ITR 661, Commissioner of Income …
Procedure for valuation of inventory from tag price during survey u/s 133A-Cost price has to be determined and due deduction to be given towards direct expenses – ITAT ABCAUS Case Law Citation: ABCAUS 2477 (2018) 08 ITAT Important Case Laws Cited/relied upon: CIT v. S. Khader Khan Son, …
Payments made by University to affiliated colleges for conducting examinations in different centres were reimbursement and not fee for technical services u/s 194J – ITAT ABCAUS Case Law Citation: ABCAUS 2476 (2018) 08 ITAT The instant appeal was filed by the assessee against the order of Commissioner of …
The jurisdiction cannot be challenged after expiry of time limit prescribed u/s 124(3). The challenge to jurisdiction is different from challenge to transfer of jurisdiction – ITAT ABCAUS Case Law Citation: ABCAUS 2475 (2018) 08 ITAT The instant appeal was filed by the assessee against the order of …
AO was not justified in applying accounting method followed by a different assessee and rejecting Percentage of completion method consistently applied which had been accepted by Revenue in past- ITAT ABCAUS Case Law Citation: ABCAUS 2474 (2018) 08 ITAT Important Case Laws Cited/relied upon: Investment Ltd V/s CIT …
High court orders inquiry for manipulation of reasons to believe and role of the AO. Recommends strict disciplinary action for playing a subterfuge by back dating the records ABCAUS Case Law Citation: ABCAUS 2473 (2018) 08 HC Important Case Laws Cited/relied upon by the parties: Haryana Acrylic Manufacturing …
Non deduction of TDS-Liability to pay interest even if deductee paid taxes. Under section 201(1A) liability of the deductor is absolute – ITAT ABCAUS Case Law Citation: ABCAUS 2472 (2018) 08 ITAT Important Case Laws Cited/referred: DIT vs. Jacabs Civil Incorporate In the instant appeal, the assessee had …
Provision for warranty allowable deduction if based on past events and reliable scientific estimate is made of future liability likely to be incurred ABCAUS Case Law Citation: ABCAUS 2471 (2018) 08 ITAT Important Case Laws Cited/relied upon by the parties: Rotork Controls India Pvt.Ltd In this appeal, the …
Income accumulation application allowed under rectification u/s 154 as assessment was not completed and there was only intimation u/s 143(1) ABCAUS Case Law Citation: ABCAUS 2470 (2018) 08 ITAT Important Case Laws Cited/relied upon by the parties: Bagalkot Town Development Authority v. CIT CIT Vs. Nagpur Hotel Owner’s …
Brought forward debit balance can not make assessment erroneous and prejudicial to the interest of the Revenue – ITAT quashes Revisionary Order ABCAUS Case Law Citation: ABCAUS 2469 (2018) 08 ITAT In this appeal, the assessee had challenged the correctness of the order of the Principal Commissioner of …