Category: Judgments
Section 68 is about satisfaction of AO not CIT us 263 to sit on the judgment of Assessing Officer. Revision order can not be made merely on audit objection basis-ITAT ABCAUS Case Law Citation: 1030 (2016) (10) ITAT Important case Laws cited: CIT v. Sohana Woollen Mills – …
Expenses on issue of shares eligible deduction us 35D. Deduction for payment of bonus to employees eligible u/s 36 and section 43B or 40A(9) does not come into play-Supreme Court ABCAUS Case Law Citation: 1029 (2016) (10) SC Assessment Year: 2001-02 Questions of Law framed: Whether expenditure incurred on …
Diary also books of accounts us 44AA. Section does not prescribe books for business but only talks of accounts-documents which may enable AO to adduce true income, penalty u/s 271A deleted by ITAT ABCAUS Case Law Citation: 1028 (2016) (10) ITAT Assessment Year: 2009-10 and 2010-11 Brief Facts …
CA issuing fake certificate-invoice to bank guilty of misconduct. Bank on the strength of false certificate and fake proforma invoice had released loan fund-Delhi HC ABCAUS Case Law Citation: 1027 (2016) (10) HC Brief Facts of the Case: The present disciplinary proceedings for professional misconduct were initiated by the …
Supreme Court stays Delhi HC judgment on Service Tax Audit by Departmental Officer or CAG The Supreme Court has stayed the judgment/decision of the Delhi High Court in the case of Mega Cabs Private Limited. In the said judgment, the Delhi High Court had declared ultra vires and struck down that …
Disciplinary proceedings against managing committee of ICAI Chandigarh Branch stayed by P&H High Court in a case of democratic selection of branch chairman. This indeed puts a question mark on the endeavour of ICAI in upholding the democratic principles enshrined in the Chartered Accountants Act, 1949 and rules governing it. …
Income Tax Notice by Speed Post held not served properly as was not sent by registered post In a recent judgment, ITAT Amritsar has held that Income Tax Notice by Speed Post held not served properly as it returned back and was not sent by registered post to …
Addition for shortage in food grain stock ignoring excess quashed as it was made on the basis of earlier years agreed additions only – ITAT ABCAUS Case Law Citation: 1024 (2016) (09) ITAT Assessment Year: 2010-11 Brief Facts of the Case: The assessee was engaged in the trading of …
Addition for incorrect salary in form 26AS of IAS Officer quashed in view of contradiction in certificate by Chief Treasury Officer and Form 26AS – ITAT ABCAUS Case Law Citation: 1023 (2016) 09 ITAT Assessment Year 2011-12 Brief Facts of the Case: The assessee was an IAS Officer …
Double depreciation claim by charitable trust allowed as application of income up to 31-03-2014 as it has been barred u/s 11(6) from AY 2015-16-ITAT ABCAUS Casse Law Citation: 1022 (2016) (09) ITAT AY 2005- 06 and AY 2010-11 Brief Facts of the Case: The present appeal(s) was filed …
