Category: Judgments
No Penalty u/s 271AAB unless undisclosed income found from seized material. Disclosure made in statement u/s 132(4) not sufficient to levy penalty ABACUS Case Law CitationABCAUS 3360 (2020) (08) ITAT Important case law relied upon by the parties:Ravi Mathur vs. DCITDinesh Kumar Agarwal vs. ACITRaja Ram Maheshwari vs. …
Penalty u/s 271(1)(c) upheld despite notice without striking off the not applicable charge as in penalty order AO specified the applicable limb ABACUS Case Law CitationABCAUS 3359 (2020) (08) ITAT Important case law relied upon by the parties:Shweta Construction Company Pvt. Ltd. vs. ITO,B. D. Mundra & Sons, …
Education cess & Secondary and Higher Education Cess are allowable deduction while computing income chargeable under the head of profits and gains of business or profession ABACUS Case Law CitationABCAUS 3358 (2020) (08) ITAT Important case law relied upon by the parties:Sesa Goa Ltd. vs. JCIT 117 taxmann.com …
Exemption u/s 54F for investment in name of wife allowed when non-jurisdictional High Courts had different opinions and no decision was from jurisdictional HC ABACUS Case Law CitationABCAUS 3357 (2020) (08) ITAT Important case law relied upon by the parties:CIT vs. Podar Cement (P.) Ltd. 226 ITR 625(SC)Mysore …
Deeming provision of section 68 not apply if no sum is received in terms of any money, i.e., in cash or cheque. credit worthiness not required to be examined in such case In the given case, the Income Tax Department had challenged the judgment of the Hon’ble High …
Treating expenses bogus without appreciating replies received u/s 133(6) unfair. AO always expected to examine replies of the recipients of such expenditure. ABACUS Case Law CitationABCAUS 3355 (2020) (08) HC In the instant case, the assessee had filed the Writ Petition under articles 226 and 227 of the …
Penalty 271(1)(b) deleted as assessee had furnished medical certificate of treatment for depression and AO did not bring anything against the evidences of ill-health. ABACUS Case Law CitationABCAUS 3354 (2020) (08) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming …
Filing Income Tax Form with scanned signature held only procedural defect and curable in nature. ITAT allowed Form 35A filed with DRP. ABACUS Case Law CitationABCAUS 3353 (2020) (08) ITAT Important case law relied upon by the parties:MSM Satellite (Singapore) Pvt. Ltd. vs. JDIT In the instant case, …
Delay in Appeal against TDS CPC order downloaded after two years condoned as the order was never served on assessee ABACUS Case Law CitationABCAUS 3352 (2020) (08) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the late fee for …
Memorandum of Family Settlement not required to be registered – Supreme Court. Read essentials ingredients of a Family Settlement ABACUS Case Law CitationABCAUS 3351 (2020) (07) SC Important case law relied upon by the parties:Kale & Ors. vs. Deputy Director of Consolidation & Ors (1976) 3 SCC 119 …
