Category: Judgments

For exemption u/s 54F usage of property i.e. residential or commercial has to be considered in deciding if assessee owns more than one residential property ABCAUS Case Law CitationABCAUS 3479 (2021) (04) HC Important case law relied referred:Malabar Industrial Co. Ltd. vs. Commissioner of income tax (2000) 109 …

Addition made for difference due to wrong journal entry. Assessee directed to file reconciliation to explain the difference-ITAT ABCAUS Case Law CitationABCAUS 3477 (2021) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition made by the Assessing …

Addition made during survey for difference construction expenses between tally accounting package and manual register deleted by ITAT ABCAUS Case Law CitationABCAUS 3477 (2021) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition made on the basis of …

Not passing separate order u/s 161 but adding income of non-resident in hands of assessee as representative assessee bad in law. ABCAUS Case Law CitationABCAUS 3476  (2021) (03) ITAT Important case law relied referred:CIT vs Dr Laxmichand Narpal Nagda (1995) 211 ITR 804 (Bom)Smt Shashi Varma vs CIT …

No interest on interest/compound interest/penal interest for moratorium period from any borrowers irrespective of sanctioned loan limit – Supreme Court ABCAUS Case Law CitationABCAUS 3475 (2021) (03) SC Important case law relied referred:Union Carbide Corporation Limited v. Union of India, (1991)4 SCC 584;M. Nagaraj vs. Union of India …

Application under VSVA 2020 valid for pending appeals unless condonation of delay rejected on specified date ABCAUS Case Law CitationABCAUS 3474 (2021) (03) HC In the instant case the petitioner was aggrieved by the fact that his application filed under the provisions of the Direct Tax Vivad Se …

Person ineligible u/s 29A of IBC 2016 to submit a resolution plan, also barred from proposing a scheme of compromise and arrangement u/s 230 of the Companies Act 2013 ABCAUS Case Law CitationABCAUS 3473 (2021) (03) SC Important case law relied referred:Swiss Ribbons Private Limited vs. Union of …

Surrender of income due to recovery of documents during survey can not be said to be voluntarily. ITAT upheld penalty u/s 271(1)(c) ABCAUS Case Law CitationABCAUS 3472 (2021) (03) ITAT Important case law relied referred:MAK Data (P) Ltd. v. CIT (2013) 358 ITR 593(SC)Samson Maritime Ltd. 88 taxmann.com …

Earlier cash withdrawal can be explained as source for subsequent bank deposit of cash, provided there are no evidence to show that those withdrawals could not be available to as a source for subsequent deposits. ABCAUS Case Law CitationABCAUS 3471 (2021) (03) ITAT In the instant case, the …

ITAT remanded invocation of Section 115BBE denying set off of current year loss against income assessed u/s 68. ABCAUS Case Law CitationABCAUS 3470 (2021) (03) ITAT Important case law relied referred:Sumati Dayal v. CIT reported in (1995) 214 ITR 801(SC)CIT v. Durga Prasad More (1971) 82 ITR 540 …