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It is settled law that deduction can be permitted only with respect to those expenses which are incurred in the relevant AY.
Geetha Pundaleeka Vs The Deputy Commissioner of Income Tax (International Txn.)
(2020) TaxCorp(LJ) 28375 (ITAT-BANGALORE) · Section 40(a)(ia)
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The powers of provisional attachment are drastic powers and should be exercised in appropriate cases for proper reasons.
Raghunandan Enterprise Vs ASSISTANT COMMISSIONER OF INCOME TAX
(2020) TaxCorp(LJ) 28374 (HC-GUJARAT)
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In cases where the return of an assessee is accepted without scrutiny, the assessing officer enjoys a greater latitude to reopen the assessment.
JAWARI LAL LUNIA S/O SH. GHEVAR CHAND VERSUS UNION OF INDIA, PRINCIPAL CHIEF COMMISSIONER OF INCOME TAX (NAFAC)
(2022) TaxCorp(LJ) 28373 (HC-RAJASTHAN) · https://taxcorp.in/FileOpenDT.aspx?ID=86549&Category=Judgment&CategoryType=Zip
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Interest shall be paid at the rate prescribed under Section 244A(1)(b) for the period from the date of payment of tax, i.e., 7th January, 2011.
ROHAN DEVELOPERS PVT. LTD. VERSUS INCOME-TAX OFFICER (INTERNATIONAL TAXATION) -3 (1) , MUMBAI, DIRECTOR OF INCOME-TAX (INTERNATIONAL TAXATION -II MUMBAI, UNION OF INDIA
(2022) TaxCorp(LJ) 28372 (HC-BOMBAY) · https://taxcorp.in/FileOpenDT.aspx?ID=86551&Category=Judgment&CategoryType=Zip
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We do not find any ambiguity in the order passed by the learned CIT(A) and he has rightly directed the learned AO to compute the commission income @ 0.25 paise per lakh deposited in the bank account.
ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1 RAJKOT VERSUS SHRI ANIRUDDHSINH J. SOLANKI
(2022) TaxCorp(LJ) 28371 (ITAT-RAJKOT) · https://taxcorp.in/FileOpenDT.aspx?ID=95579&Category=ITAT&CategoryType=Zip
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Failure of the assessee to deduct tax at source from payment made to the Netherlands entity clearly magnetizes section 40(a)(i) of the Act.
VANDERLANDE INDUSTRIES PRIVATE LIMITED VERSUS ACIT, CIRCLE-13, PUNE
(2022) TaxCorp(LJ) 28370 (ITAT-PUNE) · https://taxcorp.in/FileOpenDT.aspx?ID=95581&Category=ITAT&CategoryType=Zip
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The plea of the assessee is not acceptable.
SMT. LATA GARG VERSUS THE DCIT, CENTRAL CIRCLE-4, DELHI.
(2022) TaxCorp(LJ) 28369 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95583&Category=ITAT&CategoryType=Zip
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In order to fall within the ambit of FTS, the service providers should have made available, to the Assessee, the technical knowledge, experience, skill, know-how etc.
Wipro Limited Vs Deputy Commissioner of Income-tax
(2022) TaxCorp(LJ) 28368 (ITAT-BANGALORE) · Section 195
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If any steps are taken for recovery, Assessee may file an application before the AO requesting to keep the demand in abeyance and grant stay on recovery atleast till the time the application that may be filed by the writ-applicant under Section 119 before the Chief Commissioner is decided one way or the other.
Rajkamal Healds And Reeds Pvt. Ltd Vs ASSISTANT DIRECTOR OF INCOME TAX
(2022) TaxCorp(LJ) 28367 (HC-GUJARAT) · Section 119(2)(b)
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Revisionary jurisdiction is not as wide as appellate jurisdiction, at the same time cannot be confused with power of review, which is limited in nature.
Hapag Lloyd India Pvt. Ltd Vs Principal Commissioner of Income-Tax
(2022) TaxCorp(LJ) 28366 (HC-BOMBAY)
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A mere statement that the land was situated in urban area and the agriculture was not carried out at the relevant point of time could not be concluded as suppression.
H. Ameerdeen Vs The Income Tax Officer
(2022) TaxCorp(LJ) 28365 (HC-MADRAS)
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Provision of section 133A(4) prohibits the income tax authority to remove cash, stock or other valuable article and it is only upon non-cooperation or refusal by the person under search that power under section 131(1) can be resorted.
RAJ ENTERPRISE VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6, SURAT.
(2022) TaxCorp(LJ) 28364 (ITAT-SURAT) · https://taxcorp.in/FileOpenDT.aspx?ID=95558&Category=ITAT&CategoryType=Zip
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The assessee is entitled to claim the benefit of deduction u/s 54 of the IT Act on account of sale of the property and the subsequent investment in the residential property.
CHARU AGARWAL VERSUS DCIT (INTERNATIONAL TAXATION) , CIRCLE GURGAON. AND (VICE-VERSA)
(2022) TaxCorp(LJ) 28363 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95560&Category=ITAT&CategoryType=Zip
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The loss arising in the process of conversion of foreign currency, which is part of trading asset of the assessee, is a trading loss as any other loss.
THE DY. COMMISSIONER OF INCOME TAX, NON-CORPORATE CIRCLE-I (1), CHENNAI VERSUS M/S. KUNNAM GRANITE WORKS
(2022) TaxCorp(LJ) 28362 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95567&Category=ITAT&CategoryType=Zip
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Since the credit balance appearing in the accounts of the assessee does not pertain to the year under consideration, therefore assessing officer was not justified in making the addition under Section 68 of the Act.
PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL-1, KOLKATA VERSUS M/S. MAHALUXMI MARKETING PVT. LTD.
(2022) TaxCorp(LJ) 28361 (HC-CALCUTTA) · https://taxcorp.in/FileOpenDT.aspx?ID=86539&Category=Judgment&CategoryType=Zip
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All the notices issued in the present cases are after 01.04.2021 and have been issued without following the procedure contained in Section 148A of the Act and are therefore invalid.
RATAN KUMAR BANSAL HUF VERSUS INCOME TAX OFFICER, WARD 1 (2) , NEW CENTRAL REVENUE, UNION OF INDIA
(2022) TaxCorp(LJ) 28360 (HC-RAJASTHAN) · https://taxcorp.in/FileOpenDT.aspx?ID=86540&Category=Judgment&CategoryType=Zip
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When a donor trust which is a charitable trust donates its income to another trust, the provisions of Section 11(1)(a) can be said to have been met by such donor trust and the donor trust can be said to have applied its income for religious and charitable purposes.
COMMISSIONER OF INCOME TAX, (EXEMPTIONS) , KOLKATA VERSUS NAWAL KISHORE KEJRIWAL CHARITY TRUST, ALKING CHARITY TRUST, ALWAR CHARITY TRUST, ASHOK KUMAR MEMORIAL TRUST, LAKSHMI TRUST
(2022) TaxCorp(LJ) 28359 (HC-CALCUTTA) · https://taxcorp.in/FileOpenDT.aspx?ID=86544&Category=Judgment&CategoryType=Zip
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Non filing of return for proper period and not in appropriate status is not at all a procedural mistake, it is quite substantial mistake.
Achal Housing LLP Vs ACIT
(2022) TaxCorp(LJ) 28358 (ITAT-MUMBAI)
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As tax was deducted at source, the payments were genuine and the source of the expenditure was also satisfactorily explained by the assessee.
M/s. Agrawal Construction Co. Vs ACIT
(2022) TaxCorp(LJ) 28357 (ITAT-INDORE)
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As per the settled position of law, it was not permissible for an assessee to raise a fresh claim for deduction otherwise than by filing a revised return of income.
Shri Raja Vikram Vs The Income Tax Officer
(2022) TaxCorp(LJ) 28356 (ITAT-RAIPUR) · Section 54B
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