Category: Judgments
TDS u/s 194IC is applicable for payment under JDA to transferor of land and building holding leasehold rights and not ownership. In a recent judgment, ITAT Mumbai has held that it would be against the intent of the legislation to interpret that provisions of TDS under section 194IC …
When the provisions of Section 69A are invoked burden of proof lies on the AO to establish source of unexplained money In a recent judgment, ITAT Delhi has held that settled law is that where the AO invoked the provisions of Section 69A of the Income Tax Act, …
When order u/s 263 is quashed, assessment order passed u/s 143(3) r.w.s. 263 has no legs to stand In a recent judgment, ITAT Agra has held that when order u/s 263 of the Act is quashed, assessment order passed u/s 143(3) r.w.s. 263 has no legs to stand …
When assessee offered income on accrual basis over the years, claim of TDS deducted on maturity of bond can not be disallowed – ITAT In a recent judgment, ITAT Agra has held that when assessee had offered interest income on RBI Bonds on accrual basis over the years, …
Writing “Yes, I am convinced it is a fit case for re-opening the assessment u/s 147 by issuing notice u/s 148” is a valid approval under section 151A In a recent judgment, Delhi High Court has held that the language “Yes, I am convinced it is a fit …
Rajasthan High Court quashes notice u/s 148 issued by JAO and not by FAO expressing disagreement with Gujarat High Court judgment. In a recent judgment the Rajasthan High Court quashes notice u/s 148 issued by Jurisdictional Assessing Officer (JAO) and not Faceless Assessing Officer (FAO). Disagrees with Gujarat …
Owner of vehicle not expected to verify driver’s licence to know if the licence is fake or not. Owner of vehicle not before employing a driver not expected to verify license produced by the driver to know if the licence is fake or not. ABCAUS Case Law Citation:4774 …
No estimation can be made by extrapolation and multiplication for the period for which no incriminating material were found – ITAT In a recent judgment, ITAT Delhi has held that the AO is not legally empowered to make estimation for the period, where incriminating materials do not exists, …
Enhanced compensation on compulsory acquisition of agricultural land will be treated as income from other sources and not under the head capital gains. In a recent judgment, ITAT Amritsar has held that enhanced compensation on compulsory acquisition of agricultural land will be treated as income from other sources …
In case of superficial enquiry by AO PCIT may be justified in invocation of revisionary powers u/s 263 but not before making some enquiries – ITAT In A Recent judgment, ITAT Lucknow has held that in absence of findings of Assessing Officer (AO), PCIT may be justified in …
