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The order was passed within the time limit laid down under rule 34(5) of ITAT Rules considering the extraordinary situation of Covid 19 epidemic, the period of lockdown is required to be excluded in computation of the 90 days.
Newtech (India) Developers Vs Income Tax Officer
(2020) TaxCorp(LJ) 22784 (ITAT-MUMBAI)
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There is no minimum threshold or gap of time prescribed u/s. 143 (2).
Surana Enterprises Vs ITO
(2020) TaxCorp(LJ) 22783 (ITAT-DELHI) · Section 143(2)
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HC - Revenue having invoked powers u/s.245, cannot withheld the admitted refundable amount.
Vodafone Idea Limited Vs The Assistant Commissioner of Income Tax, The Principal Commissioner of Income Tax
(2020) TaxCorp(LJ) 22782 (HC-BOMBAY) · Section 245
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ITAT - Since the rent have been paid to each of the co-owners, tax deductible at source as per the provisions of section 194I of the Act, has been complied by the assessee. No TDS on rent as individual share not exceeding Sec. 194-I threshold.
M.P. Warehousing & Logistics Corporation Vs ACIT
(2020) TaxCorp(LJ) 22781 (ITAT-INDORE) · Section 194I
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In case, there is a default or delay in submitting the TDS statements, a late fee is levied as contemplated U/s 234E of the Act and the A.O. while processing the statements of TDS shall make the adjustment on this account.
GOVERNMENT SECONDARY SCHOOL PRINCIPAL OFFICER VERSUS A.C.I.T., CPC-TDS, GAZIABAD.
(2020) TaxCorp(LJ) 22780 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=83784&Category=ITAT&CategoryType=Zip
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Merit in the case made out by the assessee that various clauses of Section 92BA of the Act were not applicable in the factual matrix.
ASHISH SUBODHCHANDRA SHAH (HUF) VERSUS PR. COMMISSIONER OF INCOME TAX-5 AHMEDABAD
(2020) TaxCorp(LJ) 22779 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=83785&Category=ITAT&CategoryType=Zip
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Giving up of a right to claim specific performance by conveyance in respect to an immovable property, amounts to relinquishment of the capital asset. Therefore, there was a transfer of capital asset within the meaning of the Act. The payment of consideration under the agreement of sale, for transfer of a capital asset, is the cost of acquisition of the capital asset. Therefore, in lieu of giving up the said right, any amount received, constitutes capital gain and it is exigible to tax.
SHRI CHANDRASHEKAR NAGANAGOUDA PATIL VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-6 (2) (1) , BANGALORE
(2020) TaxCorp(LJ) 22778 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=83786&Category=ITAT&CategoryType=Zip
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We modify the order passed by Ld Pr. CIT and direct the AO to examine the claim of the assessee and compute the addition to be made under clause (f) to Explanation 1 to sec.115JB of the Act independently without having regard to the provisions of sec.14A of the Act.
M/S TANGLIN DEVELOPMENTS LTD. VERSUS THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1 (3) , CR BUILDINGS, QUEEN’S ROAD, BANGALORE
(2020) TaxCorp(LJ) 22777 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=83787&Category=ITAT&CategoryType=Zip
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In the present case, the assessee has furnished all the information available with him. The learned assessing officer had the investigation wing report available with him. Undoubtedly in the report of the Principal Director Of Investigation, Kolkata dated 27 April 2015 contains the name of 84 companies, out of which one company at serial number 71 is Nouvea global venture limited (NOUVEAU) wherein total alleged transactions took place.
SHRI SURESH KUMAR AGARWAL VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE -25 NEW DELHI
(2020) TaxCorp(LJ) 22776 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83788&Category=ITAT&CategoryType=Zip
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On due analysis of record, we are of the view that the AO has unnecessarily created an artificial distinction. The assessee is not admitting other persons in the building. It is providing facility only to the students, and there are lots of rules and regulations, bye-laws for admitting students, according to their merits in education. Thus, taking into account overall facts and circumstances, we are of the view that the assessee is entitled for benefit of sections 11 and 12 of the Income Tax Act.
SHREE DESHI LOHANA VERSUS ITO (E) WARD-2 AHMEDABAD
(2020) TaxCorp(LJ) 22775 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=83792&Category=ITAT&CategoryType=Zip
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ITAT - It is not the requirement of law that the assessee, before he claims credit under the Indo - US convention or under IT Act should pay tax in India on such income. ITAT directed the AO to consider the claim of foreign tax credit as per the directions of the Hon'ble Karnataka High Court in the case of Wipro Ltd 382 ITR 179.
The Dy. C.I.T Vs HCL Comnet Systems and Services Ltd
(2020) TaxCorp(LJ) 22774 (ITAT-DELHI) · Section 10A
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Even though the assessee had failed to bring on record any evidence issued by Thomas Cook in support of exchange of foreign currency with Indian Rupees, there was no basis for invoking the provisions of section 69 in the instant case.
Shri Rajesh Chadha Vs DCIT
(2020) TaxCorp(LJ) 22773 (ITAT-JAIPUR) · Section 69
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Merely because of the fact that such assessee could not get his name registered in municipal records, he cannot be held not to be the owner of the property.
Sanjeev Jain Vs The Deputy Commissioner of Income Tax
(2020) TaxCorp(LJ) 22772 (ITAT-DEHRADUN)
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Where the agricultural land doesn't qualify as a capital asset, provisions of section 56(2)(vii)(b) cannot be invoked.
Sh. Prem Chand Jain Vs ACIT
(2020) TaxCorp(LJ) 22771 (ITAT-JAIPUR) · Section 56(2)(vii)(b)
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Assessment order passed subsequently in the name of non-existing company would be without jurisdiction and a nullity.
Intas Lifesciences Vs ACIT
(2020) TaxCorp(LJ) 22770 (ITAT-AHMEDABAD)
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The activity of the assessee commenced upon the acquisition of the shares of the company. Thus, the expenses incurred by the assessee as specified under the provisions of section 35D of the Act, before the commencement of the business are eligible for deduction.
Addlife Investments Pvt. Ltd. Vs The DCIT
(2020) TaxCorp(LJ) 22769 (ITAT-AHMEDABAD) · Section 35D
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Genuineness of the donation cannot be considered while determining whether the donation is anonymous or not.
Bhartiya Kissan Charitable Club Trust Vs The Income Tax Officer
(2020) TaxCorp(LJ) 22768 (ITAT-DEHRADUN)
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ITAT - Since funds were specifically borrowed for infusion of equity in the associate concerns as such interest on borrowings further advanced to sister-concerns for 'equity infusion' in group companies not allowable as a deduction u/s. 36(1)(iii).
Abhinav International Pvt. Ltd. Vs DCIT
(2020) TaxCorp(LJ) 22767 (ITAT-DELHI)
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CIT (A) has correctly accepted and found it correct regarding the amounts received as gifts from husband and from her father-in-law. CIT (A) confirmed the remaining amount owing to non-substantiation of the amounts received.
SUNITA RANI VERSUS INCOME TAX OFFICER, WARD-2, SONIPAT, HARYANA
(2020) TaxCorp(LJ) 22766 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=83763&Category=ITAT&CategoryType=Zip
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We find merit in the claim of the assessee that one more opportunity be granted to the assessee to substantiate its above claim considering the undisputed fact that all the documents were lost by the assessee in a major fire and procuring evidence to substantiate its claim therefore was a very difficult process.
M/S RECORDERS AND MEDICARE SYSTEMS PVT. VERSUS THE A.C.I.T., CIRCLE 2 (1), CHANDIGARH.
(2020) TaxCorp(LJ) 22765 (ITAT-CHANDIGARH) · https://taxcorp.in/FileOpenDT.aspx?ID=83766&Category=ITAT&CategoryType=Zip
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