Tag: Guwahati ITAT

Order passed by NFAC quashed as section 151A of e-assessment of income escaping assessment scheme 2022 had not commenced at the time of issuance of notice In A recent judgment, ITAT Guwahati quashed order passed by NFAC as the provisions of Section 151A had not come into operation …

Provisions of Section 41(1) not applicable to liabilities written back which were incurred in respect of capital assets and were capitalized In a recent judgment, ITAT Guwahati has held that when expenses liabilities written off were incurred in respect of capital assets and were capitalized, the provisions of …

ITAT upheld deletion of disallowance u/s 40A(3) where the nature of business remained the same and the patterns of cash withdrawals were also similar all through the years. In a recent judgment, ITAT Guwahati affirms deletion of disallowance u/s 40A(3) in respect of cash purchase where the nature …

ITAT deleted addition for cash deposited in bank account where return of income was filed u/s 44AD of the Income Tax Act In a recent judgment, ITAT Guwahati deleted addition u/s 69A on account of cash deposited in bank account out of sales, of which return of income …

ITAT remits case to examine claim of exemption u/s 10(26) for assessee being a Scheduled Tribe and residing in Meghalaya In a recent judgment, ITAT Guwahati set aside the order of the CIT(A) and remitted the case for examination of claim of exemption u/s 10(26) of the Income …

Real vs. Notional Income has considerable judicial precedents in terms of directing assessment of only real income and not any notional one – ITAT In a recent judgment, Guwahati ITAT deleted addition made by AO for notional interest income on interest free advances by observing that concept of …

Penalty u/s 271D deleted due to ‘reasonable cause’ as assessee belonged to Schedule Tribe and income earned by him was exempt u/s 10(26) of the Act. In a recent judgment, the ITAT Guwahati deleted penalty u/s 271D for violation of section 269SS observing that there was a ‘reasonable …

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 …