Tag: ITAT Lucknow
Section 11(2) related to accumulation of income not require that it can be utilized only after expenditure of relevant assessment are applied. In a recent judgment, ITAT Lucknow has held that Section 11(2) related to accumulation of income by charitable institutions does not provide that expenditure of relevant …
Exemption u/s 11 can not be denied for belated filing of revised Form 10B when original Form 10B was filed within due date – ITAT In a recent judgment, ITAT Lucknow has held that benefit of exemption u/s 11 can not be denied on the ground of belated …
Without enquiring when the order was actually served, dismissing the appeal for inordinate delay was not justified – ITAT In a recent judgment, ITAT Lucknow has held that without enquiring into, when assessee was actually served with the order, dismissing the appeal for inordinate delay was not justified. …
Past savings can be a valid source of cash deposits unless proven otherwise by the Department – ITAT In a recent judgment, Lucknow ITAT has deleted addition made under section 69 towards cash deposited in bank account holding that past savings can be a valid source of cash …
ITAT Lucknow in a recent judgment has held that section 69 of the Income Tax Act, 1961 provides that the assessee must have incurred any expenditure and the additions can not be made by the Assessing Officer by just estimated the expenditure. Case Law Details: ITA Nos.35,36 & 37/Lkw/2016 Assessment years: 2004-05, …
Cancellation registration u/s 12AA of a charitable trust based on oral statement related to bogus donation entries without any evidence giving opportunity to cross-examine the witness quashed by ITAT Case Details: INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW ITA No.792/LKW/2015 Assessment Year:2011-12 M/s Fateh Chand Charitable Trust …
Addition for Unexplained Investment u/s 69 quashed as Muslims religion bars Interest income therefore cash was kept at home INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW ITA No.697/LKW/2015 Assessment year:2010-11 Mehrun Nisha (Appellant) vs. Income Tax Officer (Respondent) Date of Order: 04-03-2016 ORDER PER A. K. GARODIA, A.M. This is …
Penalty 271(1)(c) deleted for claiming deduction u/s 54 for two residential houses for ambiguity before amendment in 2014 INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH “A”, LUCKNOW ITA No.01/LKW/2015 Assessment year:2006-07 Sandeep Shukla (Appellant) vs. ACIT (Respondent) Date of Order: 04-03-2016 ORDER PER A. K. GARODIA, A.M. This is assessee’s appeal …
