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Since the society is not registered u/s 12A/12AA of the Act, in our considered view, the AO/CPC has right in making the addition treating the corpus fund receipts/donations as income.
BHAGAWAN SREE MAHAYOGI LAKSHMAMMA EDUCATIONAL SOCIETY, ADONI. VERSUS INCOME-TAX OFFICER, WARD – 2, KURNOOL
(2021) TaxCorp(LJ) 28073 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=94813&Category=ITAT&CategoryType=Zip
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The additions made on mere presumptions could not be sustained and there must be something more than mere suspicion to support the assessment.
SHRI VASANTLAL NYALCHAND KIKAVAT (THROUGH L/H SHRI PANKAJ V. KIKAVAT) VERSUS DCIT-CC 3 (4) , MUMBAI
(2021) TaxCorp(LJ) 28072 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=94818&Category=ITAT&CategoryType=Zip
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There is substance in the claim of the assessee of having received part/full sale consideration qua sale of the properties in question and the same had wrongly been rejected by the lower authorities.
FAKRUDDIN ALI AHMED VERSUS ITO WARD- 1 (4) GURGAON
(2021) TaxCorp(LJ) 28071 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=94822&Category=ITAT&CategoryType=Zip
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Nowhere in the statute it has been provided that the PAN address will determine the territorial jurisdiction of the AO, the territorial jurisdiction is decided by the CBDT in terms of Section 120.
UV Realtors Pvt. Ltd Vs ACIT
(2022) TaxCorp(LJ) 28070 (ITAT-DELHI)
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Amendment to section 50C for acceptable threshold is curative in nature, and therefore applicable retrospectively.
Banwari Lal Sharma Vs The Income Tax Officer
(2022) TaxCorp(LJ) 28066 (ITAT-JAIPUR) · Sections 292B, 50C
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In case any part of forfeited amount is received, it shall be taxable in year of receipt.
Amarjeet Kaur Vs ACIT
(2022) TaxCorp(LJ) 28065 (ITAT-DELHI)
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The CIT(A), without considering assessee’s submissions, erred in making enhancement in the hands of the assessee.
Arysta LifeScience India Limited Vs ACIT
(2022) TaxCorp(LJ) 28064 (ITAT-MUMBAI)
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Advances lost during the course of business would be business losses and hence, an allowable deduction.
Maneesh Pharmaceuticals Ltd Vs DCIT- CC-7 (1)
(2022) TaxCorp(LJ) 28063 (ITAT-MUMBAI)
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Since Assessee duly explained the source of deposit, it is for the AO to bring on record some cogent evidence to prove the amount deposited in the bank was undisclosed income arising from the business or from any other activities.
Uma Agrawal Vs I.T.O –1( 3)
(2022) TaxCorp(LJ) 28062 (ITAT-AGRA) · Section 69A
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Danish Tax Council: The employee of the Questioner-Company compelled to work in Denmark due to COVID-19 did not constitute a permanent establishment of the Questioner-Company in Denmark under Danish-English DTAA.
H1 Vs Foreign Court Denmark
(2021) TaxCorp(LJ) 28061 (HC-Forein)
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The liability on account of debenture redemption premium is liable to be deducted from the income and cannot be treated as contingent liability.
63 Moon Technologies Limited Vs DCIT
(2021) TaxCorp(LJ) 28060 (ITAT-MUMBAI)
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No disallowance out of the cost incurred towards free samples is called for.
Procter & Gamble Health Limited Vs The Asstt.Commissioner of Incometax-7(1)(1)
(2021) TaxCorp(LJ) 28059 (ITAT-MUMBAI)
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Any expense incurred by way of interest which will benefit the company's director on a personal level will not be allowed as deduction.
Rukmini Realtors Pvt. Ltd Vs The Assistant Commissioner of Income-tax
(2021) TaxCorp(LJ) 28058 (ITAT-BANGALORE)
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In absence of any adverse material, Revenue could not question the wisdom and business expectancy.
Chadha Power Vs ACIT
(2021) TaxCorp(LJ) 28057 (ITAT-DELHI)
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Even if deduction u/s 80G has been claimed, then also revenue cannot disallow the deduction taken by the assessee for incurring CSR expenditure.
Naik Seafoods Pvt. Ltd Vs Pr. CIT – 2
(2021) TaxCorp(LJ) 28056 (ITAT-MUMBAI) · Sections 37, 80G
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Prior approval is the sine qua non for issuance of notice u/s 148.
Svitzer Hazira Pvt. Ltd Vs Assistant Commissioner of Income Tax
(2021) TaxCorp(LJ) 28055 (HC-BOMBAY) · Section 151
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No income chargeable in India has accrued in the hands of the foreign agents. Therefore assessee is not liable to deduct tax at source from the payments made to the foreign agents.
M/S TECNOTREE CONVERGENCE PRIVATE LIMITED VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 7 (1) (1) BANGALORE
(2021) TaxCorp(LJ) 28054 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=94788&Category=ITAT&CategoryType=Zip
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When we peruse the reasons recorded for reopening of assessment in the present case of the assessee as recorded by the Assessing Officer, we find that there is no scope for any hypothetical or any contingency in the given reasoning.
SHRI RAVI PICHAYA, DIRECTOR IN HEXTECH ENGINEERS INDIA PVT. LTD. VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, NASHIK
(2021) TaxCorp(LJ) 28053 (ITAT-PUNE) · https://taxcorp.in/FileOpenDT.aspx?ID=94790&Category=ITAT&CategoryType=Zip
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Under the present Act, the Income Tax Officer has no option like the one he had under the 1922 Act. He can, and he must, tax the right person and the right person alone.
SHRI K. NAGESH REDDY, SHRI K. VENKATASWAMY REDDY, SMT. RADHIKA REDDY, SHRI K. JAIPAL REDDY VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2 (1) , BANGALORE
(2021) TaxCorp(LJ) 28052 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=94791&Category=ITAT&CategoryType=Zip
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The remission to the AO for fresh determination after hearing the Assessee is, thus, rendered of no consequence.
Ajay Arora Vs Additional Commissioner of Income Tax
(2022) TaxCorp(LJ) 28051 (ITAT-LUCKNOW) · Sections 40(a)(i), 10B
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