ITAT

Order of the AO Imposing Penalty on Assessee Under Section 271AAB of the Income Tax Act Does Not Pass the Mandate of the Provisions of Section 271AAB of the Act. So Appeal of the Assessee is Allowed: ITAT Patna

Order of the AO Imposing Penalty on Assessee Under Section 271AAB of the Income Tax Act Does Not Pass the Mandate of the Provisions of Section 271AAB of the Act. So Appeal of the Assessee is Allowed: ITAT Patna

In the case of Shiv Bhagwan Gupta vs ACIT, ITAT Patna has held that: “The assessee has filed return u/s 139 showing income of Rs. 2808270/-The assessee has disclosed income of Rs.2179221/- during the year on account of undisclosed jewellery. Penalty u/s 271AAB is initiated.” A perusal of the above reproduced relevant part of the …

Order of the AO Imposing Penalty on Assessee Under Section 271AAB of the Income Tax Act Does Not Pass the Mandate of the Provisions of Section 271AAB of the Act. So Appeal of the Assessee is Allowed: ITAT Patna Read More »

There is No Employer- Employee Relationship If Doctor is Paid on the Basis of Patients Attended: ITAT

There is No Employer- Employee Relationship If Doctor is Paid on the Basis of Patients Attended: ITAT

In the case of DCIT vs Sir Hurkisondas Nurrotumdas Hospital & Research Centre, ITAT Mumbai has held that: Going by the factual matrix as enumerated in the preceding paragraphs, it could be noted that the terms of arrangement with consultant Doctors was different from employee-doctors. The consultant doctors were paid based on the services rendered …

There is No Employer- Employee Relationship If Doctor is Paid on the Basis of Patients Attended: ITAT Read More »

Only Amount Reflected in Form 26AS Does Not Mean that Assessee is the Actual Beneficiary Unless It is Established: ITAT

Only Amount Reflected in Form 26AS Does Not Mean that Assessee is the Actual Beneficiary Unless It is Established: ITAT

In the case of Dr Swati Mahesh Vinchurkar vs DCIT, ITAT Surat bench has held that: We have considered the rival submissions of the parties and have gone through the orders of the lower authorities carefully. There is no dispute that the assessee is resident of Surat. The assessee is qualified Doctor being Pediatric (Child …

Only Amount Reflected in Form 26AS Does Not Mean that Assessee is the Actual Beneficiary Unless It is Established: ITAT Read More »

As the Activities of the Assessee are Under the Statutory Obligation under Development Act 1973, The Activities Can Not be Treated as Trade, Commerce or Business: ITAT Agra

As the Activities of the Assessee are Under the Statutory Obligation under Development Act 1973, The Activities Can Not be Treated as Trade, Commerce or Business: ITAT Agra

In the case of Agra Development Authority vs DCIT, ITAT Agra has held that after respectfully following the decision of the coordinate bench in the matter of JHANSI DEVELOPMENT AUTHORITY (supra) we hold that the assessee activities like Income from sale of plots/ lands, Freehold conversion income, interest income from instalments, development charges, building plan …

As the Activities of the Assessee are Under the Statutory Obligation under Development Act 1973, The Activities Can Not be Treated as Trade, Commerce or Business: ITAT Agra Read More »

The Commissioner has to Re-Examine the Application of the Assessee Because He Rejected the Assessee's Application Without the Opportunity of Being Heard: ITAT Agra

The Commissioner has to Re-Examine the Application of the Assessee Because He Rejected the Assessee’s Application Without the Opportunity of Being Heard: ITAT Agra

In the case of Aashray vs CIT (Exemption), ITAT Agra has held that: The appeal of the assessee is allowed for statistical purposes, the Commissioner (exemption) is directed to examine the objects of the assessee and find out whether the objects of the assessee are charitable in nature or not on the basis of the …

The Commissioner has to Re-Examine the Application of the Assessee Because He Rejected the Assessee’s Application Without the Opportunity of Being Heard: ITAT Agra Read More »

CIT Has Rejected the Appeals Without Hearing the Assessee, So We are Giving Opportunity of Being Heard to the Assessee: ITAT Agra

CIT Has Rejected the Appeals Without Hearing the Assessee, So We are Giving Opportunity of Being Heard to the Assessee: ITAT Agra

In the case of Smt. Poonam Shivhare vs A.C.I.T., ITAT Agra has held that Having carefully examined the order of the CIT(A) in the aforesaid cases, we find that the CIT(A) has rejected the appeals without hearing the assessee, although, he has discussed the issue on merits. In the light of these facts, we are …

CIT Has Rejected the Appeals Without Hearing the Assessee, So We are Giving Opportunity of Being Heard to the Assessee: ITAT Agra Read More »

Must Read: Assessee Gets Relief From ITAT Agra Due to Word "May" as Used in Section 69 of the Income Tax Act [Read Order]

Must Read: Assessee Gets Relief From ITAT Agra Due to Word “May” as Used in Section 69 of the Income Tax Act [Read Order]

In the case of Smt. Uma Agarwal vs ITO, ITAT Agra has held that: The word “ may” had been used by the statute under section 69A, as had been used by the statute under section 69 of the Income Tax Act 1961, therefore applying the same analogy as laid down by SC in the …

Must Read: Assessee Gets Relief From ITAT Agra Due to Word “May” as Used in Section 69 of the Income Tax Act [Read Order] Read More »

Assessee has Explained the Source of Cash Deposits in the Bank, Therefore We Direct to Delete the Addition Made by AO: Jodhpur ITAT

Assessee has Explained the Source of Cash Deposits in the Bank, Therefore We Direct to Delete the Addition Made by AO: Jodhpur ITAT

In the case of Ashok Kumawat vs ITO, Jodhpur ITAT has held that: We have considered the rival contentions and carefully perused the material available on record. From perusal of the record, we observed that during the assessment proceedings, the A.O. had raised any doubt/query on the credit entries appearing in the bank statement, except …

Assessee has Explained the Source of Cash Deposits in the Bank, Therefore We Direct to Delete the Addition Made by AO: Jodhpur ITAT Read More »

Expenses Have Been Duly Verified From the Books Which are Duly Audited and Certified by Independent Chartered Accountant/ Auditor, So We Direct to Delete the Disallowance: Jodhpur ITAT

Expenses Have Been Duly Verified From the Books Which are Duly Audited and Certified by Independent Chartered Accountant/ Auditor, So We Direct to Delete the Disallowance: Jodhpur ITAT

In the case of M/s Indira Education Institute & Health Society, Udaipur vs ITO (Exemption) Udaipur, Jodhpur ITAT has held that: We have considered the rival contentions and carefully gone through the orders of the authorities below. From perusal of the record, we found that during the year under consideration the assessee has claimed the …

Expenses Have Been Duly Verified From the Books Which are Duly Audited and Certified by Independent Chartered Accountant/ Auditor, So We Direct to Delete the Disallowance: Jodhpur ITAT Read More »

In the Interest of Justice and Fair Play, Assessee Deserves One More Opportunity in Support of Claim for Seeking Registration u/s 12AA of the Income Tax Act: Jodhpur ITAT

In the Interest of Justice and Fair Play, Assessee Deserves One More Opportunity in Support of Claim for Seeking Registration u/s 12AA of the Income Tax Act: Jodhpur ITAT

In the case of Dawat E Islami Hind vs CIT, Jodhpur ITAT has held that: Having considered the facts and circumstances of the case, we belief that the assessee deserves one more opportunity to submit necessary details and documents in support of its claim for seeking registration U/s 12AA of the Act. Therefore, in the …

In the Interest of Justice and Fair Play, Assessee Deserves One More Opportunity in Support of Claim for Seeking Registration u/s 12AA of the Income Tax Act: Jodhpur ITAT Read More »

Section 43CA of the Income Tax Act is Not Applicable in the Case Where the Stamp Valuation of the Property is on Higher Side: Jodhpur ITAT

Section 43CA of the Income Tax Act is Not Applicable in the Case Where the Stamp Valuation of the Property is on Higher Side: Jodhpur ITAT

In the case of M/s Jodhana Homes vs ACIT, Jodhpur ITAT has held that: From perusal of the record, we found that the AO as well as ld. CIT(A) has failed to appreciate the fact that Section 43CA of the Act is not applicable in the instant case, as the stamp valuation of the property …

Section 43CA of the Income Tax Act is Not Applicable in the Case Where the Stamp Valuation of the Property is on Higher Side: Jodhpur ITAT Read More »

Interest Paid to Third Parties is Deductible from Net Profit: Jodhpur ITAT [Read Order]

Interest Paid to Third Parties is Deductible from Net Profit: Jodhpur ITAT [Read Order]

In the case of Shri Subhash Chand Jain vs Assistant Commissioner of Income Tax, Jodhpur ITAT has held that We are of the considered opinion that the interest paid to third parties is deductible from the profit arrived after application of net profit rate in light of decision of Hon’ble Rajasthan High Court and various …

Interest Paid to Third Parties is Deductible from Net Profit: Jodhpur ITAT [Read Order] Read More »

One More Opportunity Should be Given to the Assessee in the Interest of Justice: Jodhpur ITAT

One More Opportunity Should be Given to the Assessee in the Interest of Justice: Jodhpur ITAT

In the case of Kailash Goyal, Jodhpur ITAT has held that in the interest of justice and fair play, we believe that the assessee deserves one more opportunity to file necessary information/documentation in response to the issues raised by the ld. Pr. CIT in the impugned order. Therefore, we set aside the impugned order to …

One More Opportunity Should be Given to the Assessee in the Interest of Justice: Jodhpur ITAT Read More »

Contribution Towards ESI and PF are Deposited Before the Due Date Under Section 139(1). So No Disallowance Should Occur in Assessment: Jodhpur ITAT

Contribution Towards ESI and PF are Deposited Before the Due Date Under Section 139(1). So No Disallowance Should Occur in Assessment: Jodhpur ITAT

In the case of U and T Tractor Spares Private Limited Jodhpur, the Jodhpur ITAT has held that the employees’s contribution amounting to Rs 425,722/- towards ESI and PF which have been collected by the assessee from its employees have been deposited well before the due date of filing of return of income u/s 139(1) …

Contribution Towards ESI and PF are Deposited Before the Due Date Under Section 139(1). So No Disallowance Should Occur in Assessment: Jodhpur ITAT Read More »

TAX

Have You Shown Fake Income in Income Tax Return? This Practice might Lands You in Tax Trouble

A recent ruling by the Hyderabad ITAT wherein fake agricultural income shown by a student in income tax return to grab education loan was taxed by the Assessing Officer. This is an alarming ruling for those who are showing fake income in income tax return in order to get Bank CC/ loan etc. To Download …

Have You Shown Fake Income in Income Tax Return? This Practice might Lands You in Tax Trouble Read More »

ITAT

Diary, Note Book and Deleted Data in CPU are not Books of Accounts of the Asseseee: ITAT Chennai

ITAT Chennai held that diary, note book and deleted data in CPU are not books of accounts of the asseseee in course of its business and thus, no addition could be made towards entries found in those diary , note book and deleted entries of tally software from retrieved data of Computer CPU as unexplained …

Diary, Note Book and Deleted Data in CPU are not Books of Accounts of the Asseseee: ITAT Chennai Read More »

TAX

ITAT Delhi Begins E-filing Service, Other Benches to Go Live in July

The Income Tax Appellate Tribunal (ITAT) has opened its e-filing facility for appeals in Delhi and will extend it to other zonal [ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”2″ ihc_mb_template=”1″ ][/ihc-hide-content headquarters and benches by 19 July, the tribunal said in a statement. The move will make communication between the tribunal and disputing parties easier. Read More [/ihc-hide-content]

ITAT

E-filing Portal of Income Tax Appellate Tribunal (ITAT) will be Launched on 25th June 2021

The Income Tax Appellate Tribunal (ITAT) has issued a public notice on 21st June 2021 which is quoted as under: In continuation of Notice dated 4th June, 2021 on the above subject, I am happy to inform that Shri Ravi Shankar Prasad, Hon’ble Union Minister of Law & Justice, Communications, Electronics & Information Technology, Government …

E-filing Portal of Income Tax Appellate Tribunal (ITAT) will be Launched on 25th June 2021 Read More »

ITAT

Accumulated Savings are Acceptable Reason u/s 69A for Cash Deposit upto Rs 2.5 Lacs by Housewives under Demonetization: ITAT

Agra ITAT upholds cash deposit of Rs. 2.11 lacs into bank account during demonetisation period by the Assessee-individual for AY 2017-18; Assessee is a housewife having no source of income and claimed that the cash deposited into the account are sourced from her earlier years savings. During scrutiny, Revenue made the addition of Rs. 2.11 …

Accumulated Savings are Acceptable Reason u/s 69A for Cash Deposit upto Rs 2.5 Lacs by Housewives under Demonetization: ITAT Read More »

Good news came when the income tax stranded, the Supreme Court repealed this provision

The postponement is not carried forward even though the taxpayer is in no way responsible for the delay in hearing the appeal in the Income Tax Appellate Tribunal (ITAT). The Delhi High Court had termed this provision of the Income Tax Act as arbitrary and biased. A three-member bench of the Supreme Court has recently …

Good news came when the income tax stranded, the Supreme Court repealed this provision Read More »

Income Tax Appellate Tribunal (ITAT): A Success Story

I am very happy and grateful to the Honourable President and other organizers for having invited me to join in Platinum Jubilee celebrations of the Income Tax Appellate Tribunal completing 75 glorious years. I have also been asked to write a message for the Souvenir to be released on the auspicious day. I take it as my proud privilege.