Category: Judgments
No liability for TDS when buyers deducted commission and remit only net amount – ITAT quashed disallowance u/s 40(a)(ia) ABCAUS Case Law Citation:ABCAUS 3709 (2023) (04) ITAT Important Case Laws relied upon:CIT vs. Super Religare Laboratories Ltd. 133 taxmann.com 313 (Bombay) In the instant case, the assessee had …
Statement recorded u/s 132(4) is not sacrosanct merely because assessee failed to demonstrate any coercion and duress – ITAT ABCAUS Case Law Citation:ABCAUS 3708 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in upholding the addition of undisclosed income …
Assessee cannot be asked to explain the bank transactions of an unrelated party – ITAT deleted addition u/s 69A ABCAUS Case Law Citation:ABCAUS 3707 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition representing alleged unexplained gold …
Determining tax liability under Section 74 of UPGST Act, following Income Tax guidelines is impermissible – Allahabad High Court ABCAUS Case Law Citation:ABCAUS 3706 (2023) (04) HC In the instant case, the Petitioner assessee had challenged the order passed by the UPGST Authorities u/s 74 of UPGST Act. …
Mere providing evidence relied upon by AO no substitute of fundamental right of opportunity for cross-examination – ITAT ABCAUS Case Law Citation:ABCAUS 3705 (2023) (04) ITAT Important Case Laws relied upon by parties:Andaman Timber Industries vs. Commissioner of Central Excise, 314 ELT 641 (SC)I.C.D.S. Ltd. vs CIT 273 …
Section 69 & 115BBE not applicable on excess stock generated out of business income ABCAUS Case Law Citation:ABCAUS 3704 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the action of Assessing Officer (AO) by considering the disclosure …
No penalty u/s 271C on mere delay in deposit of TDS after deduction – Supreme Court No penalty can be levied u/s 271C of the Income Tax Act 1961 on mere delay in deposit of TDS after its deduction – Supreme Court In a recent judgment, the Hon’ble …
Sale of Agricultural land converted into commercial land held non taxable as agricultural operations were continued – SC dismisses SLP of Income Tax Department ABCAUS Case Law Citation:ABCAUS 3702 (2023) (04) SC Important Case Laws relied upon by parties:CIT vs Murali Lodge (1992) 194 ITR 125 (Ker)CWT vs. …
Income Tax assessment order passed u/s 143(3) supports that party was not bogus, very much existed and carried out business – ITAT ABCAUS Case Law Citation:ABCAUS 3701 (2023) (04) ITAT In the instant appeal, the Revenue had challenged the order of CIT(A) in deleting disallowance made by the …
Payment made by family member for purchase of new property not a bar to assessee in claiming exemption u/s 54F. No one to one co-relation is essential and investment in the name of assessee made within stipulated time is entitled to exemption – ITAT ABCAUS Case Law Citation:ABCAUS …