Category: Judgments

unexplained cash credit u/s 68

Addition us 68 for accommodation entries-don’t shoot the messenger

February 12, 2017 Income Tax, ITAT
Addition us 68 for accommodation entries-don’t shoot the messenger. Addition restricted to commission earned on accommodation entries-ITAT  ABCAUS Case Law Citation:ABCAUS 1125 (2017) (02) ITAT Assessment Year : 1995-96Date/Month of Pronouncement: February, 2017 Brief Facts of the Case:The present judgment was delivered in the second round of litigation. …
Penalty 271(1)(c) for claiming higher Housing Loan Interest deduction u/s 24(b) deleted. AO did not detect it but noticed from reply of assessee

Penalty 271(1)(c) for claiming higher Housing Loan Interest deduction u/s 24(b) deleted. AO did not detect it but noticed from reply of assessee

February 12, 2017 Income Tax, ITAT, Judgments
Penalty 271(1)(c) for claiming higher Housing Loan Interest deduction u/s 24(b) deleted. The AO did not detect mistake but noticed it from the reply of the assessee – ITAT Judgment ABCAUS Case Law Citation: ABCAUS 1124 (2017) (02) ITAT Assessment Year : 2008-09 Date/Month of Pronouncement: February, 2017 …
Limitation Period us 153-Contention was that ITAT had set aside Assessment order of CIT-A only and not that of the AO-Allahabad HC Judgment

Limitation Period us 153-Contention was that ITAT had set aside Assessment order of CIT-A only and not that of the AO-Allahabad HC Judgment

February 11, 2017 High Courts, Income Tax, Judgments
Limitation Period us 153-Contention was that ITAT had set aside Assessment order of CIT-A only and not order of the Assessing Officer-Allahabad HC Judgment ABCAUS Case Law Citation: ABCAUS 1123 (2017) (02) HC Important Case Laws Cited/relied upon: CIT Vs Purshottamdas T. Patel, reported in 209 ITR 52 …
CPC intimation us 143(1) applying MMR on AOP trust invalid as jurisdiction limited for disallowing only prima facie inadmissible deductions

CPC intimation us 143(1) applying MMR on AOP trust invalid as jurisdiction limited for disallowing only prima facie inadmissible deductions

February 10, 2017 Income Tax, ITAT, Judgments
CPC intimation us 143(1) applying MMR on AOP trust invalid as jurisdiction limited for disallowing only prima facie inadmissible deductions, allowances – ITAT ABCAUS Case Law Citation: ABCAUS 1122 (2017) (02) ITAT Assessment Year : 2013-14 Date/Month of Pronouncement: February, 2017 Important Case Laws Cited/relied upon: J.K.S. Employees …
Revision us 263-Use of word “appears” showed CIT was not sure how and in what manner the assessment order passed was without investigation-ITAT

Revision us 263-Use of word “appears” showed CIT was not sure how and in what manner the assessment order passed was without investigation-ITAT

February 9, 2017 Income Tax, ITAT, Judgments
Revision us 263-Use of word appears showed CIT was not sure as to how and in what manner the assessment order passed was without investigation and enquiry-ITAT ABCAUS Case Law Citation: ABCAUS 1121 (2017) (02) ITAT Assessment Year : 2008-09 Date/Month of Pronouncement: February, 2017 The Grievance: The …
CA Misconduct-Non reporting book entry stocks debtors sales and accounts manipulation which was statutory requirement

CA Misconduct-Non reporting book entry stocks debtors sales and accounts manipulation which was statutory requirement

February 9, 2017 High Courts, ICAI, Judgments
CA Misconduct-Non reporting book entry stocks debtors sales and  accounts manipulation. Reporting modus operandi of bogus transactions was statutory requirement-High Court ABCAUS Case Law Citation: ABCAUS 1120 (2017) (02) HC Brief Facts of the Case: The Council of the Institute of Chartered Accountants of India (ICAI) received a …
CA misconduct-Share application money receipt fake certificate. CA held guilty for consciously omitting date of cheques encashment-High Court

CA misconduct-Share application money receipt fake certificate. CA held guilty for consciously omitting date of cheques encashment-High Court

February 8, 2017 High Courts, ICAI, Judgments
CA misconduct-Share application money receipt fake certificate. CA held guilty for consciously omitting date when the cheques were encashed-High Court ABCAUS Case Law Citation: ABCAUS 1119 (2017) (02) HC Brief Facts of the Case: A company invited applications for allotment of 1,80,00,000 preferential shares for cash at par. …
Jurisdictional issue not general ground requiring no adjudication. Whenever jurisdiction is questioned it is to be first decided.

Jurisdictional issue not general ground requiring no adjudication. Whenever jurisdiction is questioned it is to be first decided.

February 6, 2017 Income Tax, ITAT, Judgments
Jurisdictional issue not general ground requiring no adjudication. Whenever jurisdiction of an authority to pass the order is questioned then the foundational fact questioned is to be first decided-ITAT ABCAUS Case Law Citation: ABCAUS 1118 (2017) (02) ITAT Assessment Year : 2009-10 Date/Month of Judgment/Order: February, 2017 Brief …
Penalty 271(1)(c)-Explanation need not proved completely. As long as the explanation is reasonable and bonafide penalty need not be imposed-ITAT

Penalty 271(1)(c)-Explanation need not proved completely. As long as the explanation is reasonable and bonafide penalty need not be imposed-ITAT

February 5, 2017 Income Tax, ITAT, Judgments
Penalty 271(1)(c)-Explanation need not proved completely. As long as the explanation is reasonable and bonafide penalty need not be imposed-ITAT   ABCAUS Case Law Citation: ABCAUS 1116 (2017) (02) ITAT Assessment Year : 2008-09 Date of Pronouncement: 30-01-2017 Brief Facts of the Case: During the assessment, an addition …