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CIT(E) will admit all evidences/explanations filed by the assessee in its defense, and then decide on the application of the assessee for registration u/s. 12AA on merits in accordance with law.
THE HIGH COURT BAR ASSOCIATION VERSUS THE COMMISSIONER OF INCOME TAX, EXEMPTIONS, LUCKNOW
(2022) TaxCorp(LJ) 28315 (ITAT-ALLAHABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95383&Category=ITAT&CategoryType=Zip
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A debit balance in an account can either be reflected in the profit and loss account as expense or as an asset in the balance sheet. It cannot be reflected in both the financial statements at the same time.
R.S. STEEL MANUFACTURERS VERSUS THE ACIT, KHEDA CIRCLE NADIAD
(2022) TaxCorp(LJ) 28314 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95385&Category=ITAT&CategoryType=Zip
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The assessee has not furnished any certificate from the Auditor as there was any error or mistake in his audit report. Therefore, in the absence of such certificate by the Tax Auditor, we do not see any reason to interfere in the findings of the authorities.
BINDRA AUTOMOTIVE SYSTEM PVT. LTD., C/O-SSAR AND ASSOCIATES, CA VERSUS ITO, WARD-5 (1) , NEW DELHI.
(2022) TaxCorp(LJ) 28313 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95389&Category=ITAT&CategoryType=Zip
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Since the investments in the FDRs were not made during the year under consideration, the question of taxing the same alleging it as unexplained cash credit does not arise and hence, based on this factual position we delete the addition.
ABDULAZIZ ABDUL RASHID SHAIKH VERSUS THE ITO, WARD-5 (1) , SURAT.
(2022) TaxCorp(LJ) 28312 (ITAT-SURAT) · https://taxcorp.in/FileOpenDT.aspx?ID=95391&Category=ITAT&CategoryType=Zip
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Merely because claim of assessee was not accepted that by itself would not attract penalty u/s.271(1)(c) of the Income Tax Act, 1961.
THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, TRICHY. VERSUS M/S. DALMIA CEMENT (BHARAT) LTD., DALMIAPURAM
(2022) TaxCorp(LJ) 28311 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95393&Category=ITAT&CategoryType=Zip
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When two views are possible in respect of an issue from different High Courts, then view which is in favour of the assessee needs to be followed.
MR. M.V.A. SEETHARAMA RAJU VERSUS DEPUTY COMMISSIONER OF INCOME TAX, NON-CORPORATE CIRCLE-2, CHENNAI.
(2022) TaxCorp(LJ) 28310 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95397&Category=ITAT&CategoryType=Zip
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Tribunal rightly granted relief to the assessee and the order does not call for any interference.
PRINCIPAL COMMISSIONER OF INCOME TAX - 1, KOLKATA VERSUS M/S. BEEKAY STEEL INDUSTRIES LIMITED
(2022) TaxCorp(LJ) 28309 (HC-CALCUTTA) · https://taxcorp.in/FileOpenDT.aspx?ID=86454&Category=Judgment&CategoryType=Zip
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We deem it appropriate to remit the matter back to ld. CIT(E) who should pass a fresh order in accordance with the provisions of law and after providing sufficient opportunity to the assessee of being heard.
INTERNATIONAL DEVRAHA DIVYA FOUNDATION TRUST VERSUS CIT (EXEMPTION) , LUCKNOW
(2022) TaxCorp(LJ) 28308 (ITAT-LUCKNOW) · https://taxcorp.in/FileOpenDT.aspx?ID=95351&Category=ITAT&CategoryType=Zip
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The complete onus to reconcile the accounts including stock valuation was on the assessee and the assessee has failed to do so.
RAVILLA AEROSPACE INDUSTRIES PVT. LTD. VERSUS INCOME TAX OFFICER, CORPORATE WARD-3 COIMBATORE
(2022) TaxCorp(LJ) 28307 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95353&Category=ITAT&CategoryType=Zip
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Assessee is entitled to the depreciation under the provisions of section 32 of the Act inspite of the fact that the vehicle is registered in the name of the director of the appellant company.
SEHGAL AUTORIDERS PVT. LTD. VERSUS DCIT, CIRCLE-10 PUNE
(2022) TaxCorp(LJ) 28306 (ITAT-PUNE) · https://taxcorp.in/FileOpenDT.aspx?ID=95355&Category=ITAT&CategoryType=Zip
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No disallowance was called for on telephone expenses and the assessee is entitled to said deduction U/s 37(1) of the Act, accordingly, we direct to delete the same.
MAHARANI OF INDIA VERSUS A.C.I.T., CIRCLE-53 (1) NEW DELHI
(2022) TaxCorp(LJ) 28305 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95356&Category=ITAT&CategoryType=Zip
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Since the assessee has filed regular return for impugned assessment year within extended due date prescribed u/s.139(4) of the Act, the Assessing Officer cannot levy penalty u/s.271AAB of the Act.
M/S. POPULAR FOUNDATIONS PVT. LTD. VERSUS ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3 (4) , CHENNAI.
(2022) TaxCorp(LJ) 28304 (ITAT-CHENNAI) · https://taxcorp.in/FileOpenDT.aspx?ID=95364&Category=ITAT&CategoryType=Zip
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Transfer of shares was done prior to the amalgamation which was found not to be an afterthought as contented by the Revenue and thus, taxable in the hands of ITI (Old).
The Investment Trust of India Ltd Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 28303 (ITAT-CHENNAI)
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The notice issued by the AO was bad in law since it did not specify under which limb of Sec.271(1)(c) the penalty proceedings had been initiated.
Sucon India Ltd Vs Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 28302 (ITAT-DELHI) · Section 271(1)(c)
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In the draft assessment order no variation in the Assessee's income was proposed and thus, assessment should have been passed as per Sec. 153 r.w. 143(3).
Silver Bella Holdings Limited Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 28301 (ITAT-DELHI) · Section 144C(1)
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The tax authorities cannot evade the responsibility of ensuring correct collection of due taxes without burdening the taxpayer with unfair additions for lack of proper legal advice..
Naresh Sharma Vs The AO
(2022) TaxCorp(LJ) 28300 (ITAT-CHANDIGARH)
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Sec. 35D provides amortization of certain capital / preliminary expenditure incurred by the Assessee. Therefore, ROC expenditure u/s 35D is allowed.
Ocimum Bio Solutions India Ltd Vs Dy. Commissioner of Income-tax
(2022) TaxCorp(LJ) 28299 (ITAT-HYDERABAD) · Section 35D
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This is not a fit case for levy of penalty u/s 271(1).
Konkan Co-operative Housing Society Limited Vs Income Tax Officer
(2022) TaxCorp(LJ) 28298 (ITAT-MUMBAI) · Section 271(1)(c)
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Any expenditure incurred on account of training and imparting higher education in abroad or even inside the country are treated to be business expenditure provided after completion of their study they have contributed to the business activities of the assessee company irrespective of the fact whether the company has continued business activities or earned profit.
J.D. Jones & Company Private Limited Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 28297 (ITAT-KOLKATA)
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Where all the evidence had been produced and the CIT(A), after full investigation of the evidence and examination of the accounts, had given a definite finding on the question in issue, the Tribunal's order of remand is held to be invalid.
Ratanchand Manoharmal Vs Income Tax Officer
(2022) TaxCorp(LJ) 28296 (HC-MADRAS)
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