Category: Income Tax
A claim for deduction can not be denied merely for not filing return of income within due date specified u/s 139(1) in absence of any specific provision – ITAT ABCAUS Case Law Citation:ABCAUS 3724 (2023) (04) ITAT Important Case Laws relied upon:M/s. Saffire Garments Vs. Income Tax OfficerCIT …
Common Area Maintenance Charges (CAM charges) liable for TDS rate @ 2% u/s 194C as contractual payment and not @10% u/s 194I towards rent payment – ITAT In a recent judgment, ITAT has held that Common Area Maintenance Charges liable to TDS @ 2% u/s 194C Case Law …
AO can not question genuineness of medical certificate unless he has some material to counter it – ITAT deletes penalty u/s 271B ABCAUS Case Law Citation:ABCAUS 3722 (2023) (04) ITAT Important Case Laws relied upon:Balaji Logistics vs. ACIT In the instant case, the assessee had challenged the order …
Employers contribution not covered under Supreme Court order in case of Checkmate. Payment by cheque within due date allowed by ITAT ABCAUS Case Law Citation:ABCAUS 3721 (2023) (04) ITAT Important Case Laws relied upon:Checkmate Services P. Ltd. vs CIT ABCAUS 3614 (2022) (09) SCAlom Extrusions Ltd. 185 TAXMAN …
There is no prohibition to adjust seized cash with self assessment tax. Only prohibited is for adjustment of seized cash with advance tax – ITAT ABCAUS Case Law Citation:ABCAUS 3720 (2023) (04) ITAT Important Case Laws relied upon:ACIT vs. Narendra N. Thacker 82 taxmman.com 64Spaze Towers (P) Ltd …
Employee Salary, legal expenses, board meeting expenses, Director sitting fees can not be attributed to Fixed Deposit interest – ITAT confirms disallowance u/s 57(iii) ABCAUS Case Law Citation:ABCAUS 3719 (2023) (04) ITAT Important Case Laws relied upon:Maruti Insurance Broking (P.) Ltd. vs DCIT 127 taxmann.com 685CIT vs. V. …
Benefit of exemption u/s 11 can not be denied for mere delay in filing of audit-report with return of income – ITAT ABCAUS Case Law Citation:ABCAUS 3718 (2023) (04) ITAT Important Case Laws relied upon:Savitri Foundation vs. ITOWipro Ltd. 446 ITR 1CIT vs. Mumbai Metropolitan Regional Iron & …
Loss incurred for any purpose which is an offence or which is prohibited by law is not deductible irrespective of legality or illegality of the business – Supreme Court ABCAUS Case Law Citation:ABCAUS 3717 (2023) (04) SC Important Case Laws relied upon:CIT vs. Piara Singh 124 ITR 41Haji …
No additions can be made u/s 153A for completed/unabated assessments in absence of any incriminating material found during search u/s 132 – Supreme Court settles the controversy by affirming the law laid down by Delhi High Court in Kabul Chawla ABCAUS Case Law Citation:ABCAUS 3716 (2023) (04) SC …
Addition u/s 69A for cash gifts received on the occasion of marriage and deposited in bank deleted ABCAUS Case Law Citation:ABCAUS 3715 (2023) (04) ITAT In the instant case, the assessee had challenged the order passed by the ational Faceless Appeal Centre (NFAC)/CIT(A) in confirming the addition u/s …
