Category: Judgments

Reopening us 147 after four years with Addl CIT approval bad. Notice u/s 148 was illegal as approval of CCIT/CIT was required u/s 151(1) – ITAT

Reopening us 147 after four years with Addl CIT approval bad. Notice u/s 148 was illegal as approval of CCIT/CIT was required u/s 151(1) – ITAT

March 28, 2017 Income Tax, ITAT, Judgments
Reopening us 147 after four years with Addl CIT approval bad. Notice u/s 148 was illegal as approval/satisfaction of CCIT/CIT was required u/s 151(1) – ITAT ABCAUS Case Law Citation: ABCAUS 1188 (2017) (03) ITAT The Ground of Appeal: The effective grounds contested by the assessee was that …
Unexplained income-cash deposit in bank after 2-3 months held not probable as withdrawals made in small amounts mostly by employee – P&H High Court

Unexplained income-cash deposit in bank after 2-3 months held not probable as withdrawals made in small amounts mostly by employee – P&H High Court

March 26, 2017 High Courts, Income Tax, Judgments
Unexplained income-cash deposited in bank after 2-3 months gap held not probable as withdrawals made in small amounts mostly by employee – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1187 (2017) (03) HC The Grievance: The appellant-assessee had filed the present appeal under Section 260A …
Interest free loan to subsidiary-disallowance for commercial expediency not relevant if advances given out of interest free funds – Punjab & Haryana HC

Interest free loan to subsidiary-disallowance for commercial expediency not relevant if advances given out of interest free funds – Punjab & Haryana HC

March 26, 2017 High Courts, Income Tax, Judgments
Interest free loan to subsidiary-disallowance for commercial expediency not relevant if advances given out of interest free funds – Punjab & Haryana High Court ABCAUS Case Law Citation: ABCAUS 1186 (2017) (03) HC Date/Month of Pronouncement: March, 2017 The Ground of Appeal: The present judgments involves two appeals filed …
Delay in filing appeal condoned as CA was unaware of law. Quality of-explanation, legal assistance and detriment to Revenue important factors-Madras HC

Delay in filing appeal condoned as CA was unaware of law. Quality of-explanation, legal assistance and detriment to Revenue important factors-Madras HC

March 25, 2017 High Courts, Income Tax, Judgments
Delay in filing appeal condoned as CA was unaware of law. Quality of explanation, legal assistance to litigant, and detriment to Revenue important factors to consider- Madras High Court ABCAUS Case Law Citation: ABCAUS 1185 (2017) (03) HC The Moot Question: Can a litigant be prejudiced on account …
Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). It refers to only designations which include CIT(Judicial) – Delhi High Court

Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). It refers to only designations which include CIT(Judicial) – Delhi High Court

March 24, 2017 High Courts, Income Tax, Judgments
Receipt of ITAT order by any CIT triggers limitation period u/s 260A(2)(a). In a recent judgment, the Hon’ble Delhi High Court has held that the terms used in the relevant sub-section are the only designations of the officers who could receive a copy of the order. Therefore, in the …
Additions not related to reasons recorded for reopening not permissible as it was not subject matter of reasons recorded by AO for reopening the assessment

Additions not related to reasons recorded for reopening not permissible as it was not subject matter of reasons recorded by AO for reopening the assessment

March 24, 2017 Income Tax, Judgments
Additions not related to reasons recorded for reopening not permissible as it was not subject matter of reasons recorded by AO for reopening the assessment – ITAT ABCAUS Case Law Citation: ABCAUS 1183 (2017) (03) ITAT The Grievance: The appellant assessee was aggrieved by the additions made by …
Entire amount of undisclosed purchases can not be added as profit. In absence of information on sales, only profit element can be taxed – ITAT

Entire amount of undisclosed purchases can not be added as profit. In absence of information on sales, only profit element can be taxed – ITAT

March 21, 2017 Income Tax, ITAT, Judgments
Entire amount of undisclosed purchases can not be added as profit. In absence of information on sales of such purchases only profit element can be taxed – ITAT ABCAUS Case Law Citation: ABCAUS 1181 (2017) (03) ITAT Assessment Year : 2007-08 Date/Month of Pronouncement: March, 2017 Brief Facts …