Category: Judgments

Penalty notice without specific charges when assessee had no confusion as to if it was for concealment or inaccurate particulars as appeared from his reply. Penalty Upheld by ITAT ABCAUS Case Law Citation: ABCAUS 1207 (2017) (04) ITAT The Grievance: The assessee was aggrieved by order passed by the …

Employees LTC LFC claims for foreign travel not exempt u/s 10(5). Employer rightly treated assessee in default u/s 201(1) and u/s 201(1A) for non deduction of TDS – ITAT Bangalore  ABCAUS Case Law Citation:ABCAUS 1206 (2017) (04) ITAT The Grievance:The assessee was aggrieved by order passed by the …

Conversion of shares as stock-in-trade into investment-no prohibition in law. Res-judicata no bar in like questions in subsequent years-Kolkata High Court ABCAUS Case Law Citation: ABCAUS 1205 (2017) (04) HC The Grievance: The assessee was aggrieved by order passed by the Income Tax Appellate Tribunal (‘ITAT’) The Substantial …

Revisionary order quashed as wrong allowance caused no prejudice to the interest of the Revenue and the twin conditions u/s 263 not satisfied-ITAT  ABCAUS Case Law Citation: ABCAUS 1204 (2017) (04) ITAT The Grievance: The Appellant was aggrieved by the order passed by the Commissioner of Income Tax …

Appeal delay condonation-oversight due to election duty. CIT(A) did not find facts false, appellant did not stand to gain by filing belated appeal- ITAT ABCAUS Case Law Citation: ABCAUS 1203 (2017) (04) ITAT The Ground of Appeal: The Appellant was aggrieved by the order passed by the CIT(A) …

BCI can not remand disciplinary proceedings transferred to it u/s 36B(1) of the Advocates Act, 1961 from the State Bar Council – Supreme Court   ABCAUS Case Law Citation: ABCAUS 1202 (2017) (04) SC The Ground of Appeal: The appellant advocate contended that the time consumed in disposal …

No capital gain tax on flat transferred as nominee. The assessee did not inherit the property as owner but as nominee of all legal heirs – ITAT ABCAUS Case Law Citation: ABCAUS 1201 (2017) (04) ITAT The Grievance: The assessee was aggrieved by the order passed by the …

Claim supported by affidavit cannot be rejected without any enquiry or material brought on record to disprove the claim of the assessee – ITAT ABCAUS Case Law Citation: ABCAUS 1200 (2017) (04) ITAT The Grievance: The assessee was aggrieved by the order passed by the CIT(A) confirming the …

Applicability of Presumptive Tax if actual profit is more than presumptive income. Shifting from salary to professional receipts to take benefit u/s 44ADA The Income-tax Act 1961 (‘the Act’) provides for taxation of income on presumptive or deeming basis in the case prescribed businesses. Currently, the benefit of …

TDS return filing not require directors personal time-Penalty for Late filing confirmed. Timely filing could have been done by hiring professional services – ITAT ABCAUS Case Law Citation: ABCAUS 1198 (2017) (04) ITAT The Grievance: The appellant assessee was aggrieved by the order of the CIT(A) in confirming …