Category: Judgments
Deity is a juristic person having status of individual, Tax rates/slabs as applicable to an individual would apply. Section 167B not applicable. ABCAUS Case Law Citation: ABCAUS 3048 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties: Official Trustee of West Bengal Vs. CIT (1974) 93 …
Value of goods lying at port but not exported can be at cost or market price at the option and regular practice of the assessee. SC dismisses SLP of the Revenue ABCAUS Case Law Citation:ABCAUS 3047 (2019) (07) SC The Revenue had challenged the order of the Tribunal …
Allowability of pension payment to retiring partner in CA Firm. SC refuses to entertain SLP of the ITD against High Court order quashing reopening ABCAUS Case Law Citation: ABCAUS 3046 (2019) (07) SC The petitioner was a partnership firm of Chartered Accountants. For the Assessment Year in question, …
Rectification by ITAT was barred by principle of finality & doctrine of merger. SC dismisses SLP of assessee but set asides Rs.1.5 lakh costs imposed by the High Court for being speculative ABCAUS Case Law Citation:ABCAUS 3045 (2019) (07) SC Important Case Laws Cited/relied upon by the partiesCommissioner …
SC uphelds validity of rule 6(4)(m)(i) of Karnataka Sales Tax Rules read with Explanation III to Rule 6(4) ABCAUS Case Law Citation: ABCAUS 3044 (2019) (07) SC Important Case Laws Cited/relied upon by the parties: E.C.I.E. Pvt. Ltd. vs. Additional Deputy Commissioner, Commercial Taxes (Kar.) and Another 1999(114) …
Letter of Allotment can not be considered as agreement to sale by any stretch of imagination. ITAT upheld addition u/s 56(2)(vii)(b) of the Income Tax Act. ABCAUS Case Law Citation: ABCAUS 3042 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties: Babulal Shambhubhai Rakholia v. ACIT …
Addition made for not explaining frequent cash withdrawal and deposits in bank deleted as addition solely based upon suspicion not sustainable ABCAUS Case Law Citation: ABCAUS 3041 (2019) (06) ITAT The instant appeal was filed by the assessee against the order of CIT(A) in sustaining addition of cash …
Failure to comply u/s 194C(7) does not resurrect liability u/s 194C(6), Section 194C(7) and section 194C(6) are independent to each other ABCAUS Case Law Citation: ABCAUS 3040 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: ACIT vs Mohammed Suhail The instant appeal was filed by …
Cash Payments itself not undisclosed income of assessee in the absence of corresponding asset found at the time of search. ITAT deleted penalty u/s 271AAB. ABCAUS Case Law Citation: ABCAUS 3035 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: NTPC vs. CIT 229 ITR 383 …
Addition made only on the basis of statement which stood retracted on the next day itself was unjustified. ITAT deleted the addition ABCAUS Case Law Citation: ABCAUS 3034 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Pullangode Rubber Produce Company Ltd. Vs State of Kerala …
