Judgments

Delay in filing Appeal due to sufficient cause can be Condoned on Grounds of Reasonable Cause: Gujarat HC

Lavjibhai Swaroopchand Mehta (CA/1544/2021) Facts:The applicant revenue has contended that order of the Income Tax Appellate Tribunal (for short ‘ITAT’) was received on 30.07.2018 and a rectification application came to be filed on 14.02.2019 which was dismissed by ITAT as …

Delay in filing Appeal due to sufficient cause can be Condoned on Grounds of Reasonable Cause: Gujarat HC Read More »

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India-UK agree to exchange experiences and best practices in areas of working of commercial courts, and ADR mechanisms like arbitration and mediation

During the recent meeting of India-UK Joint Consultative Committee (JCC), a broad agreement was reached to facilitate exchange of experiences and best practices in the area of  working of commercial courts, alternate dispute resolution mechanisms like arbitration and mediation, use …

India-UK agree to exchange experiences and best practices in areas of working of commercial courts, and ADR mechanisms like arbitration and mediation Read More »

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Promotion of e-Lok Adalat

Steps taken by Legal Services Authorities to promote e-Lok Adalats include – Standard Operating Procedure for conduct of e-Lok Adalat, Technical training through System officers to the Court Staff, Whatsapp groups for litigants, advocates and respondents for conveying them relevant …

Promotion of e-Lok Adalat Read More »

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PRESS COMMUNIQUE

In exercise of the power conferred by clause (l) of Article 217 and clause (1) of Article 224 of the Constitution of India, the President, after consultation with the Chief Justice of India, is pleased to appoint Judges/Additional Judges of …

PRESS COMMUNIQUE Read More »

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Penalty Cannot Be Levied If Omission And Wrong Claim Was By Oversight And Auditors Did Not Point It Out: ITAT Mumbai

In the case of Wadhwa Estate & Developers India Pvt. Ltd vs. ACIT, ITAT Mumbai has held that: Undisputedly, in the return of income assessee has failed to offer interest on fixed deposit amounting to Rs 5,92,186 and loss claimed …

Penalty Cannot Be Levied If Omission And Wrong Claim Was By Oversight And Auditors Did Not Point It Out: ITAT Mumbai Read More »

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CIT(A) Has No Power To Enhance New Source Of Income Neither Discussed in Assessment Order Nor Mentioned in ITR: ITAT Pune

In the case of Ram Infrastructure Ltd vs. JCIT, ITAT Pune has held that: It is well settled law laid down by the Hon’ble Apex Court in Commissioner of Income Tax Vs. Shapoorji Pallonji Mistry, 44 ITR 891 (SC) and …

CIT(A) Has No Power To Enhance New Source Of Income Neither Discussed in Assessment Order Nor Mentioned in ITR: ITAT Pune Read More »

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Income Which is Not Chargeable Under Specific Provisions Of Articles 6 to 21 Cannot Be Taxed Under Residuary Provision: ITAT Chennai

In the case of DCIT vs. Ford India Limited, ITAT Chennai has held that: An income is of such a nature as, on satisfaction of conditions specified in the related provision, could be taxed under any of these specific treaty …

Income Which is Not Chargeable Under Specific Provisions Of Articles 6 to 21 Cannot Be Taxed Under Residuary Provision: ITAT Chennai Read More »

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“On Money” Received By Assessee For Sale Of Agricultural Land Has To Be Treated As “Agricultural Income” If Assessee Has No Other Source For Receipt: ITAT Cochin

In the case of ITO vs. Abraham Varghese Charuvil, ITAT Cochin has held that: The payment of on-money is an unfortunate practice in most part of our country, and none can deny this factual situation. It is the case of …

“On Money” Received By Assessee For Sale Of Agricultural Land Has To Be Treated As “Agricultural Income” If Assessee Has No Other Source For Receipt: ITAT Cochin Read More »

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Bogus Purchases Cannot Be Assessed As ‘Unexplained Expenditure’ If Transactions Are Duly Disclosed And Payments Are Through Banks: ITAT Mumbai

In the case of Earthmoving Equipment Service Corporation vs. DCIT, ITAT Mumbai has held that: Section 69C could not be applied to the facts of the case as the payments were through banking channels which were duly reflected in the …

Bogus Purchases Cannot Be Assessed As ‘Unexplained Expenditure’ If Transactions Are Duly Disclosed And Payments Are Through Banks: ITAT Mumbai Read More »

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Penalty For Delay in Filing TDS Returns Cannot Be Levied If Delay Was Due To Requirement To Collect PAN Of Payees: ITAT Jaipur

In the case of Argus Golden Trades India Ltd vs. JCIT, ITAT Jaipur has held that: The assessee has submitted that since there were large number of deductees scattered throughout the country, a fact not disputed by the Revenue, it …

Penalty For Delay in Filing TDS Returns Cannot Be Levied If Delay Was Due To Requirement To Collect PAN Of Payees: ITAT Jaipur Read More »

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Penalty Cannot Be Levied Unless There is “Evidence Beyond Doubt” That There Was Concealment Of Particulars Of Income Or Furnishing Inaccurate Particulars Thereof: ITAT Delhi

In the case of DDIT vs. Metapath Software International Ltd, ITAT Delhi has held that: It is an well established proposition of law that being penal in nature, the provisions of section 271(1)(c) of the Act are invoked only when …

Penalty Cannot Be Levied Unless There is “Evidence Beyond Doubt” That There Was Concealment Of Particulars Of Income Or Furnishing Inaccurate Particulars Thereof: ITAT Delhi Read More »

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Period Of Limitation For Rectification Application is Six Months From End Of Month in Which “Order is Passed”: ITAT Hyderabad

In the case of Srinivas Sashidhar Chaganty vs. ITO, ITAT Hyderabad has held that: Section 254(2) of the Act refers to the period of limitation reckoning from the end of the month in which the order Is passed’ and not …

Period Of Limitation For Rectification Application is Six Months From End Of Month in Which “Order is Passed”: ITAT Hyderabad Read More »

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Amounts Paid By Way Of Reimbursement Of Expenses Do Not Constitute Income in The Hands Of Recipient: ITAT Cochin

In the case of ACIT vs. St. Mary’s Rubbers Private Ltd, ITAT Cochin has held that: The Tribunal, while giving the above decision, had also considered the effect of CBDT Circular No.715 dated 08.08.1995 and also ruled that the said …

Amounts Paid By Way Of Reimbursement Of Expenses Do Not Constitute Income in The Hands Of Recipient: ITAT Cochin Read More »

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Section 69C Cannot Be Applied Where All Purchase And Sales Transactions Are Part Of Regular Books Of Accounts: ITAT Mumbai

In the case of M/s. Fancy Wear vs. ITO, ITAT Mumbai has held that: The AO or the FAA have not rejected the books of accounts of the assessee nor have doubted the purchases made by it. The recognised principles …

Section 69C Cannot Be Applied Where All Purchase And Sales Transactions Are Part Of Regular Books Of Accounts: ITAT Mumbai Read More »

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“Concealment Of Particulars Of Income” And “Furnishing Of Inaccurate Particulars Of Income” Are Different Terms: ITAT Mumbai

In the case of Orbit Enterprises vs. ITO, ITAT Mumbai has held that: Notably, Sec. 292BB of the Act has been inserted w.e.f. 01.04.2008 and is understood basically as a rule of evidence. The implication of Sec. 292BB of the …

“Concealment Of Particulars Of Income” And “Furnishing Of Inaccurate Particulars Of Income” Are Different Terms: ITAT Mumbai Read More »

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CIT(A) Has To Apply His Own Independent Mind in Facts And Circumstances Of Case: Telangana High Court

In the case of APR Jewellers Private Limited vs CIT(A) and ITO, the Telangana High Court has held that: Supreme Court in Principal Commissioner of Income Tax vs. L.G. Electronics India Private Ltd, observed that an administrative circular would not …

CIT(A) Has To Apply His Own Independent Mind in Facts And Circumstances Of Case: Telangana High Court Read More »

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No Disallowance Can Be Made For Cash Payments If Transaction is Genuine And Identity Of Payee is Known: ITAT Jaipur

In the case of M/s A Daga Royal Arts vs. ITO, ITAT Jaipur has held that: Citation: Section 40A(3) Rule 6DD: No disallowance can be made for cash payments if the transaction is genuine and the identity of the payee …

No Disallowance Can Be Made For Cash Payments If Transaction is Genuine And Identity Of Payee is Known: ITAT Jaipur Read More »

income tax judgment

Disallowance u/s 14A & Rule 8D Has To Be Made Even If Assessee Not Earned Any Tax-Free Income On Investment: ITAT Amritsar

In the case of Lally Motors India (P.) Ltd vs. PCIT, ITAT Amritsar has held that: Citation: Disallowance u/s 14A & Rule 8D has to be made even if the assessee has not earned any tax-free income on the investment. …

Disallowance u/s 14A & Rule 8D Has To Be Made Even If Assessee Not Earned Any Tax-Free Income On Investment: ITAT Amritsar Read More »

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