Category: Judgments
ITAT comment against CA Profession was out of sheer desperation & frustration. Bombay High Court strongly criticises ITAT for its observation made against the CA profession. ABCAUS Case Law Citation: ABCAUS 2091 (2017) (10) HC Approximately three years back in 2014, ITAT Mumbai had made a remark on …
Assessee liable to penalty u/s 221(1) for non payment of self assessment tax under section 140A, where return is revised and tax is paid at the time of filing the revised return of income – ITAT Special Bench Penalty for non payment of self assessment tax where return …
Penalty 271(1)(c) for mistakenly interchanged opening wdv of fixed assets with block of assets admissible a higher rate of depreciation ABCAUS Case Law Citation: ABCAUS 2089 (2017) (10) ITAT The Challenge/Grievance: The appellant assesseeschallenged the order passed by the CIT(A) confirming action of Assessing Officer (AO) in …
Chartered Accountant though not public servant can be prosecuted under Prevention of Corruption Act as it covers persons other than the public servants- High Court ABCAUS Case Law Citation: ABCAUS 2088 (2017) (10) HC The Challenge/Grievance: The Petitioner was a chartered accountant who was aggrieved by the order …
When assessee filed all details rejectig registration u/s 12AA by the CIT (Exemptions) on the ground that assessee was not interested in prosecuting the application was not consistent with the facts. ABCAUS Case Law Citation: ABCAUS 2086 (2017) (09) ITAT The Challenge/Grievance: The appellant assessee had filed …
No disallowance for overpricing if party assessed at maximum marginal rate and there is no loss of Revenue. ABCAUS Case Law Citation: ABCAUS 2085 (2017) (09) ITAT The Challenge/Grievance: This was an appeal filed by Revenue against the order of CIT(A) whereby he had deleted the additions …
Only earnest money can be forfeited not the advance given especially when no loss is suffered on account of non transaction or non performance. Showing an amount in the balance sheets amounts to admission-Delhi High Court ABCAUS Case Law Citation: ABCAUS 2084 (2017) (09) HC Important Case Laws …
Proceeding u/s 7A of the Employees Provident Funds and Miscellaneous Provisions Act, 1952 are deemed judicial proceeding within the meaning of Sections 193 and 228 IPC -Supreme Court ABCAUS Case Law Citation: ABCAUS 2083 (2017) (09) SC The Substantial Question of Law framed/urged for determination: Whether complaint …
Additions u/s 68 and 69 for transfer entries in capital account on account of rectification can not be sustained treating it alleged unexplained credit and unexplained investments – ITAT ABCAUS Case Law Citation: ABCAUS 2082 (2017) (09) ITAT The Challenge/Grievance: The present appeal was been filed by …
Deferral of depreciation allowance not concealment of income or furnishing of any inaccurate particulars for levy of penalty u/s 271(1)(c). Noted Lawyer Harish Salve gets relief from ITAT ABCAUS Case Law Citation: ABCAUS 2081 (2017) (09) ITAT The Challenge/Grievance: This appeal was filed by assessee against the …