Tag: adhoc disallowance
In case of estimation of income, penalty under Section 270A of the Income Tax Act cannot be imposed – ITAT In a recent judgment, ITAT Ranchi has held that in case of estimation of income, penalty under Section 270A of the Income Tax Act cannot be imposed ABCAUS …
Penalty u/s 270A(9)(a) can not be levied on adhoc additions – ITAT In a recent judgment, ITAT Hyderabad has held that penalty u/s 270A(9)(a) can not be levied on adhoc additions. ABCAUS Case Law Citation:ABCAUS 4159 (2024) (07) ITAT In the instant case, the assessee had challenged the …
Penalty u/s 270A can not be levied for additions made on estimation basis. Penalty on the basis of findings in quantum proceedings not independently examined can not be sustained – ITAT Bangalore ABCAUS Case Law Citation:ABCAUS 3861 (2024) (02) ITAT Important Case Laws relied upon by parties:Jai Balaji …
Addition of Mobilization Advances based on gross receipts as per 26AS statement deleted as mobilization advance was offered to tax over the life of the project ABCAUS Case Law Citation:ABCAUS 3763 (2023) (06) ITAT In the instant case, the Department had challenged the order passed by the CIT(A) …
Adhoc disallowance of estimated expenses was justified in the absence of substantiation of expenses by assessee ABCAUS Case Law Citation:ABCAUS 3670 (2023) (02) ITAT Important Case Laws relied upon by parties:Deputy Commissioner of Income Tax vs. M/s Bhawani Portfolio Pvt. Ltd. In the instant case, the assessee had …
A company cannot have any personal expenditure. ITAT deleted ad hoc disallowance on vehicle running and maintenance expenditure ABCAUS Case Law Citation:ABCAUS 3146 (2019) (09) ITAT In the instant case, one of the issue was related to ad-hoc disallowance being 10% of the vehicle repairs and maintenance expenditure. …
No further disallowance when income is computed u/s 44AD. ITAT directs AO to make assessment u/s 44AD as desired by assessee who earlier declared lower net profits ABCAUS Case Law Citation: ABCAUS 2989 (2019) (06) ITAT The only issue in this appeal filed by the assessee was against …
Ad-hoc disallowance not within permissible arena of taxing statute which is essentially welfare in nature – ITAT ABCAUS Case Law Citation:ABCAUS 2671 (2018) (12) ITAT Important Case Laws Cited/reliedupon:M/s Bajaj Auto Centre, Kanpur vs. Income Tax Officer M/s Bhullar Oxygen Pvt. Ltd. vs. Income TaxOfficer The appeal was …
The assessee was not prejudiced when AO disallowed only 10% of expenses instead of rejecting the books u/s 145 and pass best judgment assessment order under Section 144- High Court ABCAUS Case Law Citation: ABCAUS 2488 (2018) 08 HC The instant appeal was filed by assessee against the …
Self-made vouchers would not make expenses not genuine unless they do not carry necessary details like address of the recipient or signature-ITAT deleted the adhoc disallowance. ABCAUS Case Law Citation: ABCAUS 2295 (2018) (04) ITAT The appellant assessee had challeneged the order passed by the Commissioner of Income …
