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The CIT(A), without considering assessee’s submissions, erred in making enhancement in the hands of the assessee.
Arysta LifeScience India Limited Vs ACIT
(2022) TaxCorp(LJ) 28064 (ITAT-MUMBAI)
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Advances lost during the course of business would be business losses and hence, an allowable deduction.
Maneesh Pharmaceuticals Ltd Vs DCIT- CC-7 (1)
(2022) TaxCorp(LJ) 28063 (ITAT-MUMBAI)
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Since Assessee duly explained the source of deposit, it is for the AO to bring on record some cogent evidence to prove the amount deposited in the bank was undisclosed income arising from the business or from any other activities.
Uma Agrawal Vs I.T.O –1( 3)
(2022) TaxCorp(LJ) 28062 (ITAT-AGRA) · Section 69A
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Danish Tax Council: The employee of the Questioner-Company compelled to work in Denmark due to COVID-19 did not constitute a permanent establishment of the Questioner-Company in Denmark under Danish-English DTAA.
H1 Vs Foreign Court Denmark
(2021) TaxCorp(LJ) 28061 (HC-Forein)
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The liability on account of debenture redemption premium is liable to be deducted from the income and cannot be treated as contingent liability.
63 Moon Technologies Limited Vs DCIT
(2021) TaxCorp(LJ) 28060 (ITAT-MUMBAI)
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No disallowance out of the cost incurred towards free samples is called for.
Procter & Gamble Health Limited Vs The Asstt.Commissioner of Incometax-7(1)(1)
(2021) TaxCorp(LJ) 28059 (ITAT-MUMBAI)
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Any expense incurred by way of interest which will benefit the company's director on a personal level will not be allowed as deduction.
Rukmini Realtors Pvt. Ltd Vs The Assistant Commissioner of Income-tax
(2021) TaxCorp(LJ) 28058 (ITAT-BANGALORE)
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In absence of any adverse material, Revenue could not question the wisdom and business expectancy.
Chadha Power Vs ACIT
(2021) TaxCorp(LJ) 28057 (ITAT-DELHI)
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Even if deduction u/s 80G has been claimed, then also revenue cannot disallow the deduction taken by the assessee for incurring CSR expenditure.
Naik Seafoods Pvt. Ltd Vs Pr. CIT – 2
(2021) TaxCorp(LJ) 28056 (ITAT-MUMBAI) · Sections 37, 80G
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Prior approval is the sine qua non for issuance of notice u/s 148.
Svitzer Hazira Pvt. Ltd Vs Assistant Commissioner of Income Tax
(2021) TaxCorp(LJ) 28055 (HC-BOMBAY) · Section 151
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No income chargeable in India has accrued in the hands of the foreign agents. Therefore assessee is not liable to deduct tax at source from the payments made to the foreign agents.
M/S TECNOTREE CONVERGENCE PRIVATE LIMITED VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7 (1) (1) BANGALORE
(2021) TaxCorp(LJ) 28054 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=94788&Category=ITAT&CategoryType=Zip
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When we peruse the reasons recorded for reopening of assessment in the present case of the assessee as recorded by the Assessing Officer, we find that there is no scope for any hypothetical or any contingency in the given reasoning.
SHRI RAVI PICHAYA, DIRECTOR IN HEXTECH ENGINEERS INDIA PVT. LTD. VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, NASHIK
(2021) TaxCorp(LJ) 28053 (ITAT-PUNE) · https://taxcorp.in/FileOpenDT.aspx?ID=94790&Category=ITAT&CategoryType=Zip
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Under the present Act, the Income Tax Officer has no option like the one he had under the 1922 Act. He can, and he must, tax the right person and the right person alone.
SHRI K. NAGESH REDDY, SHRI K. VENKATASWAMY REDDY, SMT. RADHIKA REDDY, SHRI K. JAIPAL REDDY VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2 (1) , BANGALORE
(2021) TaxCorp(LJ) 28052 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=94791&Category=ITAT&CategoryType=Zip
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The remission to the AO for fresh determination after hearing the Assessee is, thus, rendered of no consequence.
Ajay Arora Vs Additional Commissioner of Income Tax
(2022) TaxCorp(LJ) 28051 (ITAT-LUCKNOW) · Sections 40(a)(i), 10B
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For the purpose of 271AAB of the Act, this amount from SA/1 cannot be termed as undisclosed income as per the definition given under Section 271AAB of the Act (supra) and therefore penalty u/s. 271AAB of the Act cannot be levied in this case.
LATE CHIRANJILAL AGARWAL (LEGAL HEIR SAMEER AGARWAL) VERSUS ACIT CC-2 (1) KOLKATA
(2021) TaxCorp(LJ) 28050 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=94768&Category=ITAT&CategoryType=Zip
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Balance sheet drawn up as on 31/03/2013 was rightly taken by the Assessing Officer as well as the ld. CIT(A) for the determination of the FMV of the shares sold by the assessee.
CHAMUNDI EXTRUSIONS PVT. LTD. VERSUS ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-36 KOLKATA
(2021) TaxCorp(LJ) 28049 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=94769&Category=ITAT&CategoryType=Zip
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Penalty U/s. 271(1)(c) is not justified and is directed to be deleted.
CHANDRA SURESH KOTHARI VERSUS D.C.I.T., CENTRAL CIRCLE-2 (2) , NAGPUR
(2021) TaxCorp(LJ) 28048 (ITAT-NAGPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=94770&Category=ITAT&CategoryType=Zip
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Second Ld. Pr. CIT without satisfying the condition precedent u/s 263 of the Act has invoked the revisional jurisdiction, so all his actions are ab initio void.
STARPOINT CONSTRUCTION PVT. LTD. VERSUS PRINCIPAL COMMISSIONER OF INCOME TAX KOLKATA-4, KOLKATA.
(2021) TaxCorp(LJ) 28047 (ITAT-KOLKATA) · https://taxcorp.in/FileOpenDT.aspx?ID=94771&Category=ITAT&CategoryType=Zip
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Penalty in the case of assessee cannot be sustained as the assessee was not a person who was subjected to search u/s. 132 of the Act and consequently the provisions of section 271AAB could not be invoked in his case.
SHRI ANJANEYALU PRATHIPATHI VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1 (2) , BENGALURU. AND (VICE-VERSA)
(2021) TaxCorp(LJ) 28046 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=94775&Category=ITAT&CategoryType=Zip
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Provision of section 69C cannot be attracted in this case, unless revenue brings on record any proof of expenditure incurred.
M/S TYLAN ORGANICS PVT LTD C/O KALYANIWALLA AND MISTRY LLP VERSUS DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 1 (3) (1) , MUMBAI
(2021) TaxCorp(LJ) 28045 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=94779&Category=ITAT&CategoryType=Zip
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