Expenditure can’t be disallowed because it is not debited in Profit and Loss Account – ITAT  In a recent judgment, ITAT Guwahati has held that only because of expenditure not debited in Profit and Loss it does not disentitle assessee to claim deduction of the said expenditure if …

Tax recovery on the basis of wrong computation sheet stayed as tax liability was NIL as per Assessment Order In a recent judgment, the Hon’ble Andhra Pradesh High Court stayed recovery of tax on the basis of wrong computation sheet when returned income was accepted and as per …

There is no provision under Income-tax law for making ad-hoc disallowance of sundry creditors – ITAT In a recent judgment, ITAT Surat has quashed ad-hoc addition of creditors holding that there is no provision under Income-tax law for making ad-hoc disallowance of sundry creditors.  ABCAUS Case Law Citation:ABCAUS …

In case of non-filer notice u/s 143(2) not mandatory and notice issued u/s 142(1) is sufficient – ITAT In a recent case, the ITAT Guwahati has held that in case of non-filer notice u/s 143(2) not mandatory and notice issued u/s 142(1) is sufficient ABCAUS Case Law Citation:ABCAUS …

One PAN was allotted to two taxpayers resulting Re-assessment order of wrong person quashed by High Court In a recent judgment, the Hon’ble High Court has quashed a re-assessment order passed u/s 147 on a wrong person because one PAN was allotted by the Department to two taxpayers …

Fixing three successive dates of hearing in a single notice invalid as adjudicating authority had to pass specific orders for adjournment on each date fixed In a recent judgment, the Hon’ble Allahabad High Court has quashed service tax demand and penalty holding that fixing three successive dates for …