Tag: summons u/s 131

Non-compliance of summons issued u/s 131 by investing companies is no ground to make addition under section 68 of the Income Tax Act In a recent judgment ITAT Ranchi has held that mere non-compliance of summons issued u/s 131 of the Act and non production of the directors …

Mere TDS deduction not decisive factor to treat payment received as income of the assessee ABCAUS Case Law Citation:ABCAUS 3347 (2020) (07) ITAT Important case law relied upon by the parties:CIT vs. Panbari Tea Company Ltd. (1965) 57 ITR 422(SC)Win Chadha vs CIT (International Taxation)Sumati Dayal vs. CIT …

AO cannot sit back with folded hands in not issuing summons u/s 131 of Income Tax Act in quest for the truth. ITAT deleted additions made on account of cash deposits ABCAUS Case Law Citation:ABCAUS 3227 (2020) (01) ITAT In the instant case, appeal was filed by the …