lipped from: https://www.taxscan.in/transfer-of-cases-to-call-book-and-reviving-after-a-long-gap-without-any-reasonable-explanation-is-not-allowable-orissa-hc/260245/ By Yogitha S. Yogesh – On March 9, 2023 3:15 pm – 2 mins read The Orissa High Court (HC) held that the transfer of cases to
Category: Income Tax Cases
🙏🙏🙏🙏🙏No Reasonable Cause for Delay in filing Appeal: ITAT Refuses to Condone Huge Delay of 3047 based on Vague Reasons
Clipped from: https://www.taxscan.in/no-reasonable-cause-for-delay-in-filing-appeal-itat-refuses-to-condone-huge-delay-of-3047-based-on-vague-reasons/260110/ By Fathima Karama A.M – On March 9, 2023 1:45 pm – 2 mins read The Hyderabad Bench of Income Tax Appellate Tribunal ( ITAT ) has refused to condone the
AO failed to Produce Evidence for Cash Sales: ITAT deletes Addition
Clipped from: https://www.taxscan.in/ao-failed-to-produce-evidence-for-cash-sales-itat-deletes-addition/259777/ By Fathima Karama A.M – On March 9, 2023 1:15 pm – 2 mins read The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) has deleted the addition as
Monthly Rent paid by Company cannot be Allowed as Expenditure as Flat was Never Used for Business Purpose: ITAT
Clipped from: https://www.taxscan.in/monthly-rent-paid-by-company-cannot-be-allowed-as-expenditure-as-flat-was-never-used-for-business-purpose-itat/260088/ By Fathima Karama A.M – On March 9, 2023 12:45 pm – 2 mins read The Pune Bench of Income Tax Appellate Tribunal (ITAT) has held that the monthly
👍👍👍Assessment orders passed without affording opportunity of hearing to assessee is violative of principles of natural justice
Clipped from: https://taxguru.in/goods-and-service-tax/assessment-orders-passed-affording-opportunity-hearing-assessee-violative-principles-natural-justice.html Hon’ble Madras High Court in M/s. Novateur Electrical & Digital Systems Pvt. Ltd v. the Assistant Commissioner (ST) and Ors. has quashed the assessment orders
–Deduction u/s. 54F available as nexus sale of gold jewellery & purchase of flat established
Clipped from: https://taxguru.in/income-tax/deduction-u-s-54f-available-nexus-sale-gold-jewellery-purchase-flat-established.html Kishori Dwarakanath Pandey Vs ITO (ITAT Mumbai) ITAT Mumbai held that deduction under section 54F of the Income Tax Act duly available as
👍👍👍👍👍Gujarat High Court: Section 148A – Reassessment- Limitation of notices
Clipped from: https://taxguru.in/income-tax/gujarat-high-court-section-148a-reassessment-limitation-notices.html Case Name: Keenara Industries Pvt Ltd Vs ITO Writ Petition: 17321 of 2022 Date of judgement/order: 07.02.2023 A group of petitions filed writ before the
👍👍👍👍👍Initiation of scrutiny assessment based on wrong facts is untenable in law
Clipped from: https://taxguru.in/income-tax/initiation-of-scrutiny-assessment-based-on-wrong-facts-is-untenable-in-law.html Meena Shirish Kotwal Vs ITO (ITAT Pune) In this case the very basis of initiation of scrutiny assessment is the large investment made
👍👍👍👍👍Interest on capital accounts of partners to be calculated on actual duration basis
Clipped from: https://taxguru.in/income-tax/interest-capital-accounts-partners-calculated-actual-duration-basis.html Savla Agencies Vs JCIT (ITAT Allahabad) ITAT Allahabad held that the interests on the credit balance in the capital account of the partners
👍👍👍👍👍Assessee not required to establish that debt has become irrecoverable for writing off bad debts
Clipped from: https://taxguru.in/income-tax/assessee-required-establish-debt-irrecoverable-writing-bad-debts.html Sohanraj Khimraj Kothari Vs JCIT (ITAT Bangalore) ITAT Bangalore held that it is not necessary for assessee to establish that the debt, in
👍👍👍👍👍AO must give TDS credit on furnishing of TDS certificate by Assessee despite mismatch with NSDL data
Clipped from: https://taxguru.in/income-tax/ao-tds-credit-furnishing-tds-certificate-assessee-despite-mismatch-nsdl-data.html Machine Tools India Ltd. Vs ACIT (ITAT Kolkata) CBDT has issued instruction from time to time to the AO’s qua the manner of
👍👍👍👍👍Additions cannot be made merely on the basis of Form 26AS
Clipped from: https://taxguru.in/income-tax/additions-basis-form-26as.html Sureshkumar K Kataria Vs DCIT (ITAT Rajkot) ITAT notes that there was mismatch in the gross income reported by the assessee viz a
👍Validity of Second notice issued under Section 148 of Income Tax Act without disposing return filed to first notice
Clipped from: https://taxguru.in/income-tax/validity-second-notice-issued-section-148-income-tax-act-disposing-return-filed-first-notice.html Messrs. Elite Pharmaceuticals And Anr Vs ITO (Calcutta High Court) A short question of law involved in this writ petition is that whether
👍👍👍👍👍Addition to difference in Stock as per Books and Valuation Report can’t be made without Credible Evidence: ITAT
Clipped from: https://www.taxscan.in/addition-to-difference-in-stock-as-per-books-and-valuation-report-cant-be-made-without-credible-evidence-itat-read-order/253906/ The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that an addition on the difference in stock as per books and valuation
👍👍👍👍👍No penalty if Assessee revises return before completion of Assessment & correct Bonafide mistake
Clipped from: https://taxguru.in/income-tax/penalty-assessee-revises-return-completion-assessment-correct-bonafide-mistake.html Shri Altaf Hussain Laskar Vs DCIT (ITAT Guwahati) The case of the assessee is that he has committed certain mistakes in computing the
👍👍👍👍👍Section 263 notice issued to a person after his death is invalid
Clipped from: https://taxguru.in/income-tax/section-263-notice-issued-person-death-invalid.html Mohammad Sharif Siddiqui (Through legal Heir Suhail Siddiqui) Vs ITO (ITAT Mumbai) In the assessment order itself, the learned Assessing Officer has mentioned
👍👍👍👍👍Rajasthan HC stays Time barred Re-assessment Proceedings
Clipped from: https://taxguru.in/income-tax/rajasthan-hc-stays-time-barred-re-assessment-proceedings.html Rajendra Bana Vs ITO (Rajasthan High Court) Shri Vedant Agarwal, learned counsel representing the petitioner drew the Court’s attention to the order dated
👍👍👍👍👍Reassessment proceedings becomes null & void if no valid service of section 148 notice
Clipped from: https://taxguru.in/income-tax/reassessment-proceedings-null-void-valid-service-section-148-notice.html Chitra Supekar Vs ITO (Bombay High Court) We have heard both counsels at length and have perused the proceedings. we agree with the
👍Exemption u/s 54 to extent of non-deposit of unutilized amount in ‘Capital Gain Account Scheme’ not available
Clipped from: https://taxguru.in/income-tax/exemption-u-s-54-extent-non-deposit-unutilized-amount-capital-gain-account-scheme-available.html Ramalingam Nagarajan Vs ITO (ITAT Chennai) ITAT Chennai held that exemption under section 54 of the Income Tax Act not allowable to the
👍👍👍👍👍Mere ‘reason to believe’ not satisfy condition for reopening of assessment
Clipped from: https://taxguru.in/income-tax/mere-reason-believe-satisfy-condition-reopening-assessment.html Punia Capital Pvt. Ltd Vs ACIT (Bombay High Court) The Hon’ble Bombay High Court in Punia Capital Pvt. Ltd. v. the Assistant Commissioner of
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