Posted inINCOME TAX Disallowance Under Rule 8D is Not Compulsory Or Mandatory: ITAT Mumbai June 24, 2022June 24, 2022
Posted inJUDGEMENT Penalty Cannot Be Levied If Omission And Wrong Claim Was By Oversight And Auditors Did Not Point It Out: ITAT Mumbai June 21, 2022
Posted inJUDGEMENT CIT(A) Has No Power To Enhance New Source Of Income Neither Discussed in Assessment Order Nor Mentioned in ITR: ITAT Pune June 20, 2022
Posted inJUDGEMENT Income Which is Not Chargeable Under Specific Provisions Of Articles 6 to 21 Cannot Be Taxed Under Residuary Provision: ITAT Chennai June 19, 2022
Posted inJUDGEMENT Loose Papers Which Do Not Have Full Details Are “Dumb Documents” And Have No Evidentiary Value: ITAT Ahmedabad June 18, 2022
Posted inINCOME TAX Failure To Provide Copy Of Statement Relied Upon And Of Cross-Examination Renders Assessment Order Void: ITAT Ahmedabad June 17, 2022
Posted inJUDGEMENT Disallowance Has To Be Made Even in Respect Of Securities Held As Stock-in-Trade By Assessee: ITAT Kolkata June 16, 2022
Posted inJUDGEMENT The Onus is On Assessee To Establish Justification For Clubbing The Transactions: ITAT Bangalore June 14, 2022June 14, 2022
Posted inJUDGEMENT There is Distinction Between “Lack Of Enquiry” And “Inadequate Enquiry”: ITAT Mumbai June 13, 2022
Posted inJUDGEMENT “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 June 12, 2022June 12, 2022
Posted inJUDGEMENT Bogus Purchases Cannot Be Assessed As ‘Unexplained Expenditure’ If Transactions Are Duly Disclosed And Payments Are Through Banks: ITAT Mumbai June 10, 2022June 10, 2022
Posted inJUDGEMENT Penalty Proceedings Are “Quasi-Criminal” And Ought To Comply With Principles Of Natural Justice: ITAT Mumbai June 9, 2022
Posted inJUDGEMENT Gift Received From HUF By A Member Of HUF is Exempt From Tax: ITAT Mumbai June 8, 2022June 8, 2022
Posted inJUDGEMENT AO Has To Make Independent Inquiry To Treat Purchases As Bogus: ITAT Mumbai June 7, 2022June 7, 2022
Posted inINCOME TAX ‘Furnishing Of Inaccurate Particulars Of Income’ And ‘Concealment Of Particulars Of Income’ Have Different Connotations: ITAT Mumbai June 5, 2022June 5, 2022
Posted inJUDGEMENT Penalty For Delay in Filing TDS Returns Cannot Be Levied If Delay Was Due To Requirement To Collect PAN Of Payees: ITAT Jaipur June 3, 2022
Posted inJUDGEMENT 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 June 1, 2022June 1, 2022
Posted inJUDGEMENT Period Of Limitation For Rectification Application is Six Months From End Of Month in Which “Order is Passed”: ITAT Hyderabad May 31, 2022
Posted inJUDGEMENT Amounts Paid By Way Of Reimbursement Of Expenses Do Not Constitute Income in The Hands Of Recipient: ITAT Cochin May 30, 2022May 30, 2022
Posted inJUDGEMENT Section 69C Cannot Be Applied Where All Purchase And Sales Transactions Are Part Of Regular Books Of Accounts: ITAT Mumbai May 29, 2022May 29, 2022
Posted inJUDGEMENT “Concealment Of Particulars Of Income” And “Furnishing Of Inaccurate Particulars Of Income” Are Different Terms: ITAT Mumbai May 28, 2022May 28, 2022
Posted inJUDGEMENT No Addition Can Be Made in Absence Of Direct Evidence Showing Assessee Received Cash Payment: ITAT Mumbai May 27, 2022
Posted inJUDGEMENT Petitioner/Plaintiff Is The ‘Dominus Litis’ And It Is Open To Him To Pursue Or Abandon His Case: ITAT Mumbai May 26, 2022
Posted inJUDGEMENT The scheme Of Income Tax Act is To Assess Real Income And Not Hypothetical Income: ITAT Mumbai May 25, 2022May 25, 2022
Posted inINCOME TAX Acquisition Of New Flat in Apartment Under Construction Should Be Considered As “Construction” And Not “Purchase”: ITAT Mumbai May 24, 2022May 24, 2022
Posted inJUDGEMENT Common Area Maintenance Charges And Non-Occupancy Charges Paid to Society Are Deductible: ITAT Mumbai May 23, 2022
Posted inINCOME TAX Slump Price Paid To Acquire A Business Has To Be Bifurcated Between Tangible And Intangible Assets For Allowing Depreciation: ITAT Pune May 22, 2022
Posted inINCOME TAX Concealment Of Income And Furnishing Of Inaccurate Particulars Are Distinct And Separate Charges: ITAT Agra May 19, 2022
Posted inINCOME TAX Assessee Who Understates Consideration Received For Sale Of Agricultural Land To Avoid Payment Of Stamp Duty is Defrauding the Exchequer: ITAT Chandigarh May 17, 2022May 17, 2022
