Category: Judgments
Assessment started in the name of non existing company and completed in the name of new company resulting from merger was nullity-High Court ABCAUS Case Law Citation: ABCAUS 2235 (2018) (03) HC The Revenue was aggrieved by the order of the ITAT which concluded that the assessment had …
The assessee entitled to claim deduction u/s 80HH with respect for profits derived from processing of cashew in the factories owned by outsiders – High Court ABCAUS Case Law Citation: ABCAUS 2234 (2018) (03) HC The respondent assessee had been carrying on processing of cashew nuts in owned …
ITAT rejected cash flow statement for no household drawings made. Addition u/s 68 sustained for estimated amount of household drawings ABCAUS Case Law Citation: ABCAUS 2233 (2018) (03) ITAT The appellant assessee was aggrieved by the order of the Commissioner of Income Tax (Appeals) sustaining the addition made …
Section 50C not applicable to cold storage building so to substitute actual sale consideration by deemed sale consideration and order of AO cannot be revised u/s 263 – ITAT ABCAUS Case Law Citation: ABCAUS 2232 (2018) (03) ITAT The assessee was aggrieved by the order passed under section …
Disallowance u/s 40A(3) for cash payment to BSNL deleted as BSNL is a State and payments were made for business expediency and were not doubted – ITAT ABCAUS Case Law Citation: ABCAUS 2231 (2018) (03) ITAT Section 40A(3) of the Income Tax Act, 1961 (the Act) puts an …
Concealment penalty u/s 271(1)(c) deleted on humanitarian grounds as the assessee had died, his business was closed and his widow was depositing the quantum demand-ITAT ABCAUS Case Law Citation: ABCAUS 2230 (2018) (03) ITAT The appellant assessee was aggrieved by the order of the CIT(A) in confirming the …
No scope for imposing penalty u/s 271A in the case of Civil Contractor which is covered u/s 44AA(2) and is not carrying on any specified profession – ITAT ABCAUS Case Law Citation: ABCAUS 2229 (2018) (03) ITAT Prelude: Section 44AA if the Income Tax Act, 1961 provides for …
TDS on testing and commissioning services deductible u/s 194C as contractual payments as not as fees for technical services u/s 194J-ITAT follows High Court decision ABCAUS Case Law Citation: ABCAUS 2228 (2018) (03) ITAT Important Case Laws Cited/relied upon by the parties Pr. CIT Vs. Bharat Heavy Electricals …
Section 55A related to DVO reference not apply in a reverse case when value claimed by assessee exceeds the fair market value as determined by the AO-High Court ABCAUS Case Law Citation: ABCAUS 2227 (2018) (02) HC The appellant assessee had filed an appeal under Section 260-A of …
Exclusion of genetic disorders in insurance contracts is illegal and unconstitutional. IRDA directed to ensure that insurance companies do not reject such claims-High Court ABCAUS Case Law Citation: ABCAUS 2226 (2018) (02) HC The Respondent/Plaintiff (“Plaintiff‟) had taken a medi-claim insurance policy for himself along with his wife …