Category: Judgments
Delay in submission of form 15G 15H not make bank assessee in default for non deduction of tax at source. Demand can not be raised without verification of Forms – ITAT ABCAUS Case Law Citation: ABCAUS 2039 (2017) (08) ITAT The Grievance: This appeal was preferred by the …
Exemption us 10(23)(C)(vi)- By not applying provisions of the Right of Education Act, it cannot be said that the assessee is not doing any genuine educational activities. ABCAUS Case Law Citation: ABCAUS 2038 (2017) (08) HC Important Case Laws Cited/relied upon by the parties: Amrawati Welfare Society vs. …
Revision u/s 263 Limitation where assessment completed u/s 143(1) was reopened u/s 147. Jurisdiction u/s 263 could not be exercised after two years on issues which were not subject matter of consideration while passing the order of reassessment u/s 143(3) / 147 – ITAT ABCAUS Case Law …
Exemption u/s 54B-Use of land for agricultural purposes for full two years not necessary. Even if only Kharif crop was cultivated between two years, condition of Section 54B complied with – ITAT ABCAUS Case Law Citation: ABCAUS 2036 (2017) (08) ITAT Assessment Year : 2012-13 Important Case Laws …
Carried forward depreciation set off with short term capital gain u/s 50 is allowed in view of the amended provisions of Section 32(2) wef 01-04-2002- ITAT ABCAUS Case Law Citation: ABCAUS 2035 (2017) (08) ITAT Assessment Year : 2012-13 Important Case Laws Cited/relied upon by the parties: M/s. …
Advances converted into reserves not cessation of liability u/s 41(1). Pre-conditions / Tests to be applied for applicability of the deeming provisions as laid by Supreme Court ABCAUS Case Law Citation: ABCAUS 2034 (2017) (08) HC Assessment Year : 2000-01 Important Case Laws Cited/relied upon by the parties: …
Non-renewal of THC cannot deprive supporting manufacturer of deduction u/s 80HHC(1A). Lgislative intent is to extend benefit either to exporter or to supporting manufacturer and not to both – High Court ABCAUS Case Law Citation: ABCAUS 2033 (2017) (08) HC Assessment Year : 1996-97 Important Case Laws Cited/relied …
Penalty us 271(1)(b) for failure to file return u/s 153C. Provisions of section 271(1)(b) does not empower AO to impose the penalty for delay or failure to file the returns in response to notice u/s 153C – ITAT ABCAUS Case Law Citation: ABCAUS 2032 (2017) (08) ITAT …
Income contained in unverified transaction can only be taxed and not the amount of entire transaction. ITAT upheld tax on profit embed in alleged bogus purchase ABCAUS Case Law Citation: ABCAUS 2031 (2017) (08) ITAT The issue involved: The only issue involved in present two appeals filed by …
20 years aged person capable enough to give tips for purchasing shares. ITAT deletes penalty u/s 271(1)(c) for subjective disallowance of commission paid for tips given to customers- ITAT ABCAUS Case Law Citation: ABCAUS 2030 (2017) (08) ITAT Assessment Year : 2010-11 Brief Facts of the Case: …