Category: Judgments
Exemption notification should be interpreted strictly. Burden of proving applicability is on assessee who can not claim benefit of ambiguity-Supreme Court ABCAUS Case Law Citation:ABCAUS 2443 (2018) 07 SC This Constitution Bench was setup to examine the correctness of the ratio in Sun Export Corporation (Sun Export Case). …
Penalty 271(1)(c) deleted on debatable issue of revenue or capital receipt of the freight subsidy not accounted for on mercantile basis. ABCAUS Case Law Citation: ABCAUS 2442 (2018) 07 ITAT The instant appeal was filed by the assessee against the order passed by the CIT(A) in confirming the …
The right to appeal has been provided in statute u/s 249 which can only be taken away by legislative amendment and not by CBDT in a delegated manner – ITAT ABCAUS Case Law Citation: ABCAUS 2441 (2018) 07 ITAT The instant appeal was filed by the assessee against …
Addition for undisclosed purchases based on diary of supplier deleted as no addition was made for unaccounted sales in the hand of supplier surveyed ABCAUS Case Law Citation: ABCAUS 2440 (2018) 07 ITAT The instant appeal was filed by the assessee against the order passed by the CIT(A) …
Addition u/s 69 deleted as AO failed to call information from bank of loan creditor. Case restored back for verifying creditworthiness of the loan creditor by calling information from the Bank ABCAUS Case Law Citation: ABCAUS 2439 (2018) 07 ITAT The instant appeal was filed by the assessee …
Interest on loan against FDR security not deductible u/s 57 against interest income earned on FDR on the ground of protecting interest income from fixed deposits – ITAT ABCAUS Case Law Citation: ABCAUS 2438 (2018) 07 ITAT The instant appeal was filed by the assessee against the order …
Disallowance u/s 40(a)(ia) not affected even if payee considers the receipt as income and pays tax thereon – ITAT follows Kerala High Court ABCAUS Case Law Citation: ABCAUS 2437 (2018) 07 ITAT The appeal was filed by the assessee against the order of the Commissioner of Income Tax …
Merely by admission of appeal against ITAT order, Revenue can not get over it. Supreme Court upholds High Court’s order and dismisses SLP of the Department ABCAUS Case Law Citation: ABCAUS 2436 (2018) 07 SC The assessee was a charitable trust registered u/s 12A of the Income Tax Act, 1961 (the Act). During the course of assessment …
CBDT directed to substitute software enabling opt out from mandatory PAN-Aadhaar Linkage for filing return filing till 31.03.2019 in line with CBDT Circular ABCAUS Case Law Citation: ABCAUS 2435 (2018) 07 HC The instant Petition was filed in the High Court praying for direction that they be allowed …
Section 40A(3) applicable only when payment of expenses is made in cash exceeding specified sum and not to the payment of advances-ITAT ABCAUS Case Law Citation: ABCAUS 2434 (2018) 07 ITAT The Appellant assessee had filed the present appeal against the order passed by CIT(A) inter alia in …
