Category: Judgments
No penalty u/s 271A when assessee was under Bonafide belief that being covered under section 44AF he was not required to maintain books of account ABCAUS Case Law Citation: ABCAUS 2787 (2019) (02) ITAT Important Case Laws Cited/relied upon by the parties ACIT vs Anil Luthra (2001) 116 …
Rectification order u/s 154 revising NP rate on the basis of previous year’s chart was beyond the scope of rectification of mistake and amounted to change of the decision – ITAT ABCAUS Case Law Citation: ABCAUS 2786 (2019) (02) ITAT The assessee had challeneged the rectification order passed …
Even if at passing the original assessment order, there is a mistake or non-application of mind, initiation of re-assessment the proceedings bad in law – HC ABCAUS Case Law Citation: ABCAUS 2785 (2019) (02) HC Important Case Laws Cited/relied upon by the parties Calcutta Discount Co. Ltd. Vs. …
Statement recorded u/s 131 though binds the assessee cannot be independently used for making addition unless corroborated by evidences – ITAT ABCAUS Case Law Citation: ABCAUS 2784 (2019) (02) ITAT Important Case Laws Cited/relied upon by the parties CIT Vs M/s. Hotel Meriya ; Produce Co. Ltd. vs …
TDS credit for wrong PAN mentioned in TDS return by employer- ITAT directs Assessing Officer (AO) to give credit of TDS to the assessee after verification ABCAUS Case Law Citation:ABCAUS 2782 (2019) (02) ITAT The sole issue involved in the instant appeal was that the CIT(A) had not …
Corpus donation with specific purpose of purchase of lands for furtherance of the objects not income u/s 2(24)(iia) as they were capital receipts for specific purpose – ITAT ABCAUS Case Law Citation: ABCAUS 2781 (2019) (02) ITAT Important Case Laws Cited/relied upon by the parties ITO Vs. Vokkaligara …
Important rulings of Supreme Court made while dismissing appeals against the NCLAT Order on section 30(4) relating to voting percentage etc. ABCAUS Case Law Citation:ABCAUS 2779 (2019) (02)SC This note has been prepared by Legal Division of the IBBI for the sole purpose of creating awareness and must …
Jewellery Bills found during search-benefit of CBDT Instruction can not be denied if only bills are found and the jewellery is not available ABCAUS Case Law Citation: ABCAUS 2778 (2019) (02) ITAT Important Case Laws Cited/relied upon by the parties CIT V Rtanlal Vyaparilal Jain 339 ITR 351 …
Interest free Advances by charitable society-ITAT rules out violation of provisions of Section 13(1)(c) and 13(1)(d) of the Income Tax Act, 1961 Act ABCAUS Case Law Citation: ABCAUS 2777 (2019) (02) ITAT Important Case Laws Cited/relied upon by the parties Tribunal in DCIT (Exemptions) v. Vels Institute of …
No disallowance u/s 43B when unpaid custom duty was included in the value of the closing stock – Supreme Court dismissed SLP of the Department ABCAUS Case Law Citation: ABCAUS 2776 (2019) (02) SC The Assessing Officer (AO) had made a disallowance u/s 43B of the Income Tax …
