Category: Judgments
Concealment Penalty u/s 271(1)(c) for claiming capital loss as business loss. No Penalty when the assessee disclosed all the material in the computation of his income.- High Court ABCAUS Case Law Citation: ABCAUS 2487 (2018) 08 HC Important Case Laws Cited/relied upon by the parties: CIT Vs. Siddharth …
Addition for unexplained expenses incurred on marriage of daughter. High Court remands the matter to Tribunal for fresh adjudication ABCAUS Case Law Citation: ABCAUS 2486(2018) 08 HC The instant appeal was filed by assessee against the order of the Income Tax Appellate Tribunal (ITAT/Tribunal) in confirming the part …
Remand of the case by ITAT without setting aside the judgment of CIT(A). High Court directed assessee to move rectification application ABCAUS Case Law Citation: ABCAUS 2485 (2018) 08 HC The instant appeal was filed by assessee against the Income Tax Appellate Tribunal (ITAT/Tribunal). The Tribunal had remanded …
Filing subsequent ITRs in time no reason for rejecting petition u/s 119(2)(b) to condone the delay for return filing for claiming refund – High Court ABCAUS Case Law Citation: ABCAUS 2484 (2018) 08 HC The instant petition was filed by assessee against the rejection of its petition u/s …
Demand notice quashed as due to absence of AO it did not precede any hearing as contemplated under Section 274 of the Act ABCAUS Case Law Citation: ABCAUS 2483 (2018) 08 HC The instant petition was filed by assessee against the impugned demand notice issued by the Assessing …
High Court stays penalty proceedings during pendency of petition u/s 264 filed before Commissioner of Income Tax ABCAUS Case Law Citation: ABCAUS 2482 (2018) 08 HC The instant petition was filed by assessee against the impugned penalty notice issued by the Assessing Officer (AO) under Section 221(1) of …
Capital gain Exemption u/s 54 can not be denied for new property purchased in joint names of self wife & daughter when the amount was actually invested-ITAT ABCAUS Case Law Citation: ABCAUS 2481 (2018) 08 ITAT Important Case Laws Cited/relied upon: CIT vs. Kamal Wahal (2013) 351 ITR …
Date of Agreement to purchase taken as date of acquisition for grant of exemption u/s 54F. Section 2(47) not stipulates registration as mandatory condition ABCAUS Case Law Citation: ABCAUS 2480 (2018) 08 ITAT Important Case Laws Cited/relied upon: Poddar Cement 225 1TR 675 and Mysore Minerals 275ITR 775. …
In application for setting aside arbitral award, cross examination / Trial of persons swearing to affidavits should not be allowed unless absolutely necessary – Supreme Court ABCAUS Case Law Citation: ABCAUS 2479 (2018) 08 SC Important Case Laws Cited/relied upon: Indus Mobile Distribution Pvt. Ltd. v. Datawind Innovations …
Share Capital/Premium can not be regarded as undisclosed income. High Court deleted addition made for share premium u/s 68 ABCAUS Case Law Citation: ABCAUS 2478 (2018) 08 HC Important Case Laws Cited/relied upon: Commissioner of Income Tax v. Electro Polychem Ltd. (2007) 294 ITR 661, Commissioner of Income …
