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The carried forward balance from earlier AYs is to be considered for determination of deemed dividend under Section 2(22)(e).
Dr. L.S. Ravi Prakash Vs Deputy Commissioner of Income-tax
(2022) TaxCorp(LJ) 30392 (ITAT-BANGALORE)
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The assessment order is erroneous and prejudicial to the interest of revenue since no verification could be done about the source of receipt of advance.
Karabi Dealers Pvt. Ltd Vs Pr. Commissioner of Income-tax-2
(2022) TaxCorp(LJ) 30391 (ITAT-KOLKATA)
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CIT cannot revise an order which is non-est in the eyes of law.
Maruti Clean Coal and Power Ltd Vs The Pr. Commissioner of Income Tax-1
(2022) TaxCorp(LJ) 30384 (ITAT-RAIPUR)
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Merely for the reason that the assignment agreement is not registered, the actual outflow from the hands of the assessee towards acquisition of the property cannot be ignored for computing the capital gains.
RaviKumar Tirupati Parthasarathy Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 30383 (ITAT-BANGALORE)
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Applicability of the principles of natural justice and fair play, depends on the facts and circumstances of each case and is subjected to statutory provisions.
Dinesh Chand Surana Vs Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 30382 (HC-MADRAS)
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The assessee is justified in adopting the ALP of the electricity supply bites captive power generation plant to its AEs at Rs. 8.74 and the Revenue is not justified in excluding certain heads of charges from out of it.
Sree Rayalaseema Hi Strength Hypo Limited Vs DCIT
(2022) TaxCorp(LJ) 30375 (ITAT-HYDERABAD)
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AO made adequate enquiries with regard to the Shareholders Account during the course of assessment proceedings and invocation of revisionary jurisdiction by PCIT under Section 263 was grossly incorrect and liable to be quashed.
Tata AIA Life Insurance Company Ltd Vs Pr. Commissioner of Income Tax
(2022) TaxCorp(LJ) 30374 (ITAT-MUMBAI)
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The revision order passed under Section 263 does not contain any DIN nor any reason for non-issuance of DIN, which is in violation of the CBDT Circular No.19 of 2019 dated Aug 14, 2019.
Dilip Kothari Vs The Principal Commissioner of Income Tax
(2022) TaxCorp(LJ) 30373 (ITAT-BANGALORE)
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Since the transaction of purchase of the property were duly registered, even the cancellation of the same has to be done through a registered cancellation deed.
Seema Promoters and Builders Pvt. Ltd Vs Dy.CIT
(2022) TaxCorp(LJ) 30371 (ITAT-MUMBAI) · Section 43CA
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The object of Assessee do not justify the nexus with the relevant clauses of MOU to be eligible for exemption under Section 11.
UMAK Education Trust Vs JCIT(E)
(2022) TaxCorp(LJ) 30370 (ITAT-DELHI) · Section 11
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Employees contribution has to be deposited within due dates under relevant legislation like PF Act, failing which the same would be treated as income in the hands of employer under Section 2(24)(x).
Pivotree Solutions India Pvt. Ltd Vs The ADIT
(2022) TaxCorp(LJ) 30369 (ITAT-BANGALORE)
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For the purpose of Section 10A the quantum of deduction is required to be computed taking into account the profits of the business.
Uni-Design Jewellery Pvt. Ltd Vs Dy. CIT
(2022) TaxCorp(LJ) 30368 (ITAT-MUMBAI) · Section 10A
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The subsequent reassessment notices issued on April 8, 2021 were not in consonance with the newly inserted Section 148A which mandates Revenue to conduct an enquiry before issuance of reassessment notice.
SYLVESA Infotech Private Limited Vs Additional Commissioner of Income Tax
(2022) TaxCorp(LJ) 30367 (HC-ORISSA) · Section 148
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The provisional approval granted by the Revenue for claiming exemption under Section 80G is applicable from the beginning of AY in which application was made and not from the date on which provisional approval was granted.
NSR Charitable Trust Vs The PCIT
(2022) TaxCorp(LJ) 30366 (ITAT-CHENNAI) · Section 80G
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Penalty of Rs. 1.5 Lac levied by Revenue under Section 271B is being deletd.
Perfect Stone Limited Vs The Assistant Commissioner of Income Tax, National Faceless
(2022) TaxCorp(LJ) 30365 (ITAT-CHENNAI)
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Death of the Managing Director of the companies was an extraordinary and exceptional event which would render non-grant of relief on equitable consideration irrational.
I A Housing Solution Private Limited Vs PRINCIPAL COMMISSIONER OF INCOME TAX-4
(2022) TaxCorp(LJ) 30358 (HC-DELHI)
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The observation of the AO is nothing, but a suspicion, because as claimed by the AO, the sales declared by the assessee for the AY 2017-18, is not increased when compared to last Financial Year.
Asokan Meena Vs The Income Tax Officer
(2022) TaxCorp(LJ) 30357 (ITAT-CHENNAI)
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Services rendered by marketing partner in terms of agreement was in the nature of FTS and in absence of tax deduction at source, the expenditure was liable to be disallowed under Section 40(a)(i).
Sunsmart Technologies Pvt. Ltd Vs The Asst. Commissioner of Income Tax
(2022) TaxCorp(LJ) 30356 (ITAT-CHENNAI)
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There is no requirement that the goods to be eligible for scrap should be produced by the seller itself.
Umeshkuamr Harilal Shah Vs ITO(TDS)-3
(2022) TaxCorp(LJ) 30349 (ITAT-AHMEDABAD)
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There is no requirement that there has to be formal order of condonation of delay to enable Assessee to avail benefit of VsV Act.
Medeor Hospital Limited Vs PRINCIPAL COMMISSIONER OF INCOME TAX
(2022) TaxCorp(LJ) 30348 (HC-DELHI)
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