Tag: ITAT Chandigrah

Indirect expenses can never be in proportion to sale. There was no reason to ask justification to explain variation in expenses for the fluctuation in sales

Indirect expenses can never be in proportion to sale. There was no reason to ask justification to explain variation in expenses for the fluctuation in sales and make addition of projected expenses on the basis of increase in sale.  This was held by ITAT, Chandigarh while quashing additions …

Penalty-2711c not imposable if income estimated u/s 144 where books of accounts not produced

Penalty-2711c not imposable if income estimated u/s 144 where books of accounts not produced INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR ITA No.293(Asr)/2013 Assessment year: 2005-06 Income Tax Officer (Appellant)  vs. M/s. Age Construction Pvt. Ltd. (Respondent) Date of Order: 04-03/2016 ORDER PER A.D. JAIN, JM: This is the Department’s …

Penalty 271(1)(c) – Limitation provisions apply as per law in force at the time of filing of return

Penalty 271(1)(c) – Limitation provisions u/s 275(1A) apply as per law in force at the time of filing of return INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No.137(Asr)/2014 Assessment Year: 1994-95 Income Tax Officer (Appellant) vs. K.D. Bali (Respondent) Date of Order: 04-03-2016 ORDER PER T. S. KAPOOR (AM): This …