Category: Judgments
No PAN invalidation for non linking with Aadhaar. Supreme Court stays provision for linking of PAN with Aadhaar No PAN invalidation for non linking with Aadhaar-Supreme Court. The The Hon’ble Supreme Court of India has pronounced its judgment on the matter on the linking of Aadhaar to Income …
Only real income can be taxed under Income Tax Act. Even if whole transaction is not verifiable only income component not the entire purchase taxable ABCAUS Case Law Citation: ABCAUS 1275 (2017) (05) ITAT The Grievance: The appellant assessee was aggrieved by the order passed by the Commissioner …
When substantial question of law admitted by High Court, it is apparent that addition is debatable – ITAT ABCAUS Case Law Citation: ABCAUS 1274 (2017) (06) ITAT Assessment Year : 1999-2000 Date/Month of Pronouncement: May, 2017 Important Case Laws Cited relied upon: Rupam Mercantile vs. DCIT (2004) 91 …
Personal jewellery of family members found during survey in physical stock was to be excluded during assessment as the burden was on AO to controvert the statement – ITAT ABCAUS Case Law Citation: ABCAUS 1273 (2017) (06) ITAT The Grievance: The appeal of the assessee was …
Addition for liability existing in balance sheet u/s 41(1). CIT(A) had no locus standi to enhance the assessment for the reason of cessation of liability – ITAT ABCAUS Case Law Citation: ABCAUS 1272 (2017) (06) ITAT The Grievance: The appeal of the assessee was directed against the order …
CA acting as middleman arranging accommodation entries of share capital-premium through fictitious companies. Commission income estimated @ 1% upheld ABCAUS Case Law Citation: ABCAUS 1271 (2017) (06) ITAT The Grievance: The appeal of the assessee was directed against the order passed by CIT(A) confirming the addition, on estimation …
Tibunal Appellate Tribunal and other Authorities (Qualifications, Experience and other Conditions of Service of Members) Rules 2017 MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 1st June, 2017 G.S.R. 514(E).—In exercise of the powers conferred by section 184 of the Finance Act, 2017 (7of 2017), the …
Short Term Capital Gain when purchases of any share not repeated. Income held by ITAT as capital gain not business income ABCAUS Case Law Citation: ABCAUS 1270 (2017) (06) ITAT The Grievance: The appeal of the assessee was directed against the order passed by CIT(A) confirming the assessment …
Addition for interest income where only TDS was accounted for upheld. There is difference between inability to pay at all and delayed payment – ITAT ABCAUS Case Law Citation: ABCAUS 1269 (2017) (06) ITAT The Grievance: The appeal of the assessee was directed against the order passed by …
Four weeks time frame for disposal of CA misconduct complaint unrealistic – ICAI In a recent case, the ICAI, while opposing a writ petition seeking directions to to complete the inquiry within four weeks pleaded that there is only one Director (Discipline) in the Institute and several thousands of complaints …
