Category: Judgments

Charitable Institution is entitled to application of 15 per cent of gross receipts u/s 11(1)(a) without considering expenditure incurred or surplus available In a recent judgment, ITAT Pune has held that Charitable Institution is entitled to application of 15 per cent of gross receipts u/s 11(1)(a) without considering …

Declaring deemed profit u/s 44AE against business payments claimed as expenditure by related party was legal tax-planning – ITAT In a recent judgment, ITAT Delhi has upheld the finding of CIT(A) that transactions with related party who claimed 100 % expenditure of payments made to assessee who in …

Audit Objections can be basis for reopening but mere quoting audit objection ignoring reply of assessee is non application of mind – SLP dismissed In a recent judgment Hon’ble Supreme Court dismissed the Special Leave Petition of the Revenue upholding High Court order quashing of order u/s 148A(d) …

Look Out Notice/Circular against assessee from travelling abroad quashed as no prosecution had been launched. In a recent case, the Sessions Court quashed Look Out Notice/Circular against the assessee from travelling abroad as no prosecution had been launched and the assessee was not covered under criteria of exceptional …

ITAT gives relief to Aishwarya Rai Bachchan by upholding deletion of disallowance u/s 14A over and above the suo-moto disallowance. In a recent judgment ITAT Mumbai gave relief to Aishwarya Rai Bachchan by upholding deletion of disallowance made by the Assessing Officer (AO) u/s 14A over and above …

ITAT deleted addition of amount borrowed for treatment of father and deposited in bank account considering cost of medical treatment in the present day. In a recent judgment, ITAT Lucknow deleted addition for cash deposit of Rs. 10 Lakhs claimed to have borrowed for treatment of his father …

When the income determined as taxable is below exemption limit, provisions of section 115BBE can not be invoked. In a recent case, ITAT Lucknow deleted the addition made by the Assessing Officer (AO) by invoking provisions of section 115BBE of the Income Tax Act, 1961 (the Act) merely …

Income Tax notice by process server held invalid for no acknowledgement or endorsement on the original notice as required under Code of Civil Procedure In a recent judgment, Hon’ble High Court has laid down the essential requirement of service of income tax notice by a process server. The …

Exemption from income tax provided by RFCTLARR Act is also applicable to the compensation for land acquired under the National Highways Act 1956 In a recent judgment, Hon’ble High Court has held that RFCTLARR Act providing for exemption from income tax, stamp duty and fees would also be …

Documentary evidences filed on the day on which assessment order was passed are not additional evidence requiring compliance Rule 46A – ITAT In A recent judgment, ITAT Agra held that documentary evidences filed electronically on the day on which assessment order was passed are not additional evidence requiring …