Penalty u/s 271D unjustified when bank refused loan and cash was obtained for meeting urgent business expenses as it was a reasonable cause u/s 273B ABCAUS Case Law Citation: ABCAUS 2750 (2019) (01) ITAT The instant appeal by the assessee was against the order passed by the Commissioner …

Penalty u/s 271D was absurd when assessee himself was karta of HUF from where he obtained cash loan-ITAT deleted penalty for violation of section 269SS ABCAUS Case Law Citation: ABCAUS 2749 (2019) (01) ITAT Important Case Laws Cited/relied upon by the parties Rajendra Suryavanshi Vs ACIT (2011) 141 …

Taxability of interest received u/s 28 of Land Acquisition Act 1894. ITAT quashed CIT order believing that division bench order of the Supreme Court was not good law   ABCAUS Case Law Citation: ABCAUS 2748 (2019) (01) ITAT Important Case Laws Cited/relied upon: Ghanshyam, HUF reported at 315 …

Carry forward of unabsorbed depreciation beyond 8 years for periods prior to amendment to section 32(2)- SC dismisses SLP of the ITD ABCAUS Case Law Citation: ABCAUS 2746 (2019) (01) SC The Hon’ble Supreme Court has dismissed the Special Leave Petition (SLP) of the Income Tax Department against …

Reopening for verification of purchases from hawala dealer-Supreme Court dismisses SLP of the Department challenging dismissal of appeal by High Court ABCAUS Case Law Citation:ABCAUS 2745 (2019) (01) SC The Hon’ble Supreme Court has dismissed the Special Leave Petition (SLP) of the Income Tax Department against the decision …

Compliance must be made simpler for honest tax payers – Finance Minister stresses on simplification, transparency technology to smooth tax filing process The Union Minister of Finance, Corporate Affairs, Railways and Coal, Shri Piyush Goyal stresses on the simplification, transparency and use of latest technology in further smoothening …