Assessment on the basis of AIR without notice u/s 143(2) void ab initio without jurisdiction and liable to be quashed, as no notice issued – ITAT

Assessment on the basis of AIR without notice u/s 143(2) void ab initio without jurisdiction and liable to be quashed, as no notice issued – ITAT

February 25, 2017 Income Tax, ITAT, Judgments
Assessment on the basis of AIR without notice us 143(2) void ab initio without jurisdiction and liable to be quashed, as no notice issued – ITAT ABCAUS Case Law Citation: ABCAUS 1141 (2017) (02) ITAT Assessment Year : 2006-07 Date/Month of Pronouncement: February, 2017 Brief Facts of the …
No concealment penalty without recording findings to bonafide of the explanation offered by the assessee with reasoning. ITAT deletes penalty u/s 271(1)(c)

No concealment penalty without recording findings to bonafide of the explanation offered by the assessee with reasoning. ITAT deletes penalty u/s 271(1)(c)

February 24, 2017 Income Tax, ITAT, Judgments
No concealment penalty without recording findings to bonafide of the explanation offered by the assessee with reasoning. ITAT deletes penalty u/s 271(1)(c) ABCAUS Case Law Citation: ABCAUS 1140 (2017) (02) ITAT The Grievance: The assessee is aggrieved with the levy of penalty u/s 271(1)(c) of the Income-tax Act, …
Deemed dividend-share premium not part of accumulated profits. Proportionate taxation u/s 2(22)(e) to be made if more than one shareholder satisfy conditions-ITAT

Deemed dividend-share premium not part of accumulated profits. Proportionate taxation u/s 2(22)(e) to be made if more than one shareholder satisfy conditions-ITAT

February 24, 2017 Income Tax, ITAT, Judgments
Deemed dividend-share premium not part of accumulated profits. Proportionate taxation u/s 2(22)(e) to be made if more than one shareholder satisfy conditions-ITAT  ABCAUS Case Law Citation: ABCAUS 1139 (2017) (02) ITAT Assessment Year : 2009-10 Date/Month of Pronouncement: February, 2017 Important Case Laws Cited/relied upon: Commissioner of Income …
DG Income Tax-Exemptions action illegal in not taking decision on assessee’s application seeking approval under Section 80 IB(7)(c)-Allahabad HC

DG Income Tax-Exemptions action illegal in not taking decision on assessee’s application seeking approval under Section 80 IB(7)(c)-Allahabad HC

February 23, 2017 High Courts, Income Tax, Judgments
DG Income Tax-Exemptions action illegal in not taking decision on assessee’s application seeking approval under Section 80 IB(7)(c)-Allahabad HC ABCAUS Case Law Citation: ABCAUS 1138 (2017) (02) HC The Substantial Question of Law in assessee’s appeal: Whether the finding recorded by the Tribunal to the effect that after …