Category: Judgments
Cash book not found at search produced later was eye wash. Allahabad High Court rejects contention that it was with accountant as generally users take only data ABCAUS Case Law Citation: ABCAUS 1192 (2017) (03) HC The Substantial Question of Law raised: The appeal was admitted inter alia …
Scholarship payment is charitable expenditure when candidate was selected by a process selecting most deserving one which was not related to members of the Society – Allahabad High Court ABCAUS Case Law Citation: ABCAUS 1192 (2017) (03) HC The Substantial Question of Law raised: Whether on the facts …
Addition for share application money not warranted if AO not disputed correctness of evidences furnished or not made any adverse comments – ITAT ABCAUS Case Law Citation: ABCAUS 1191 (2017) (03) ITAT The Grievance: The appellant assessee company was aggrieved by the order passed by the CIT(A) inter …
Reduction of loan waived from fixed assets actual cost-wdv u/s 43(6)(c) not required for calculating depreciation allowable under Income tax Act – ITAT In a recent judgment, ITAT Delhi has held that reduction of loan waived from fixed assets actual cost-wdv u/s 43(6)(c) not required for calculating depreciation …
Share premium not part of capital employed in the business of the company for claim of deduction u/s 35D as it is not specifically said so in Explanation -Supreme Court ABCAUS Case Law Citation: ABCAUS 1189 (2017) (03) SC The Question of Law: Whether “premium” collected by the …
Reopening us 147 after four years with Addl CIT approval bad. Notice u/s 148 was illegal as approval/satisfaction of CCIT/CIT was required u/s 151(1) – ITAT ABCAUS Case Law Citation: ABCAUS 1188 (2017) (03) ITAT The Ground of Appeal: The effective grounds contested by the assessee was that …
Unexplained income-cash deposited in bank after 2-3 months gap held not probable as withdrawals made in small amounts mostly by employee – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1187 (2017) (03) HC The Grievance: The appellant-assessee had filed the present appeal under Section 260A …
Interest free loan to subsidiary-disallowance for commercial expediency not relevant if advances given out of interest free funds – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1186 (2017) (03) HC Date/Month of Pronouncement: March, 2017 The Ground of Appeal: The present judgments involves two appeals filed …
Delay in filing appeal condoned as CA was unaware of law. Quality of explanation, legal assistance to litigant, and detriment to Revenue important factors to consider- Madras High Court ABCAUS Case Law Citation: ABCAUS 1185 (2017) (03) HC The Moot Question: Can a litigant be prejudiced on account …
Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). In a recent judgment, the Hon’ble Delhi High Court has held that the terms used in the relevant sub-section are the only designations of the officers who could receive a copy of the order. Therefore, in the …
