Long Term Capital Gains Claimed Exempt u/s 10(38) Cannot Be Treated As Bogus Unexplained Income If Paper Work is in Order: ITAT Kolkata Leave a Comment / INCOME TAX / / June 28, 2022 / INCOME TAX, ITAT
Stock Options Are Intended To Motive Employees And So Expenditure Thereon Is A Deductible Revenue Expenditure: ITAT Delhi Leave a Comment / INCOME TAX / / June 27, 2022 / INCOME TAX, ITAT
Purchases Cannot Be Treated As Bogus Merely On The Basis Of Statements And Affidavits Filed By Alleged Vendors Before Sales Tax Department: ITAT Mumbai Leave a Comment / INCOME TAX / / June 26, 2022 / INCOME TAX, ITAT
Section 206AA Does Not Have Overriding Effect Over Other Provisions Of The Act: ITAT Hyderabad Leave a Comment / JUDGEMENT / / June 25, 2022 / INCOME TAX, ITAT
Disallowance Under Rule 8D is Not Compulsory Or Mandatory: ITAT Mumbai Leave a Comment / INCOME TAX / / June 24, 2022 / featured, INCOME TAX, ITAT
Penalty Cannot Be Levied If Omission And Wrong Claim Was By Oversight And Auditors Did Not Point It Out: ITAT Mumbai Leave a Comment / JUDGEMENT / / June 21, 2022 / INCOME TAX, ITAT
CIT(A) Has No Power To Enhance New Source Of Income Neither Discussed in Assessment Order Nor Mentioned in ITR: ITAT Pune Leave a Comment / JUDGEMENT / / June 20, 2022 / INCOME TAX, ITAT
Income Which is Not Chargeable Under Specific Provisions Of Articles 6 to 21 Cannot Be Taxed Under Residuary Provision: ITAT Chennai Leave a Comment / JUDGEMENT / / June 19, 2022 / INCOME TAX, ITAT
Loose Papers Which Do Not Have Full Details Are “Dumb Documents” And Have No Evidentiary Value: ITAT Ahmedabad Leave a Comment / JUDGEMENT / / June 18, 2022 / INCOME TAX, ITAT
Failure To Provide Copy Of Statement Relied Upon And Of Cross-Examination Renders Assessment Order Void: ITAT Ahmedabad Leave a Comment / INCOME TAX / / June 17, 2022 / INCOME TAX, ITAT
Disallowance Has To Be Made Even in Respect Of Securities Held As Stock-in-Trade By Assessee: ITAT Kolkata Leave a Comment / JUDGEMENT / / June 16, 2022 / INCOME TAX, ITAT
The Onus is On Assessee To Establish Justification For Clubbing The Transactions: ITAT Bangalore Leave a Comment / JUDGEMENT / / June 14, 2022 / INCOME TAX, ITAT
There is Distinction Between “Lack Of Enquiry” And “Inadequate Enquiry”: ITAT Mumbai Leave a Comment / JUDGEMENT / / June 13, 2022 / INCOME TAX, ITAT
“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 Leave a Comment / JUDGEMENT / / June 12, 2022 / INCOME TAX, ITAT
Bogus Purchases Cannot Be Assessed As ‘Unexplained Expenditure’ If Transactions Are Duly Disclosed And Payments Are Through Banks: ITAT Mumbai Leave a Comment / JUDGEMENT / / June 10, 2022 / INCOME TAX, ITAT
Penalty Proceedings Are “Quasi-Criminal” And Ought To Comply With Principles Of Natural Justice: ITAT Mumbai Leave a Comment / JUDGEMENT / / June 9, 2022 / INCOME TAX, ITAT
Gift Received From HUF By A Member Of HUF is Exempt From Tax: ITAT Mumbai Leave a Comment / JUDGEMENT / / June 8, 2022 / featured, INCOME TAX, ITAT
AO Has To Make Independent Inquiry To Treat Purchases As Bogus: ITAT Mumbai Leave a Comment / JUDGEMENT / / June 7, 2022 / featured, INCOME TAX, ITAT
‘Furnishing Of Inaccurate Particulars Of Income’ And ‘Concealment Of Particulars Of Income’ Have Different Connotations: ITAT Mumbai Leave a Comment / INCOME TAX / / June 5, 2022 / INCOME TAX, ITAT
A Trust is Eligible For Section 54F Deduction: ITAT Mumbai Leave a Comment / JUDGEMENT / / June 4, 2022 / INCOME TAX, ITAT
Penalty For Delay in Filing TDS Returns Cannot Be Levied If Delay Was Due To Requirement To Collect PAN Of Payees: ITAT Jaipur Leave a Comment / JUDGEMENT / / June 3, 2022 / INCOME TAX, ITAT
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 Leave a Comment / JUDGEMENT / / June 1, 2022 / INCOME TAX, ITAT
Period Of Limitation For Rectification Application is Six Months From End Of Month in Which “Order is Passed”: ITAT Hyderabad Leave a Comment / JUDGEMENT / / May 31, 2022 / INCOME TAX, ITAT
Amounts Paid By Way Of Reimbursement Of Expenses Do Not Constitute Income in The Hands Of Recipient: ITAT Cochin Leave a Comment / JUDGEMENT / / May 30, 2022 / INCOME TAX, ITAT, TDS
Section 69C Cannot Be Applied Where All Purchase And Sales Transactions Are Part Of Regular Books Of Accounts: ITAT Mumbai Leave a Comment / JUDGEMENT / / May 29, 2022 / INCOME TAX, ITAT
“Concealment Of Particulars Of Income” And “Furnishing Of Inaccurate Particulars Of Income” Are Different Terms: ITAT Mumbai Leave a Comment / JUDGEMENT / / May 28, 2022 / INCOME TAX, ITAT
No Addition Can Be Made in Absence Of Direct Evidence Showing Assessee Received Cash Payment: ITAT Mumbai Leave a Comment / JUDGEMENT / / May 27, 2022 / INCOME TAX, ITAT
Petitioner/Plaintiff Is The ‘Dominus Litis’ And It Is Open To Him To Pursue Or Abandon His Case: ITAT Mumbai Leave a Comment / JUDGEMENT / / May 26, 2022 / INCOME TAX, ITAT
The scheme Of Income Tax Act is To Assess Real Income And Not Hypothetical Income: ITAT Mumbai Leave a Comment / JUDGEMENT / / May 25, 2022 / INCOME TAX, ITAT
Acquisition Of New Flat in Apartment Under Construction Should Be Considered As “Construction” And Not “Purchase”: ITAT Mumbai Leave a Comment / INCOME TAX / / May 24, 2022 / featured, INCOME TAX, ITAT
