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In the present case, the payments made to individual lorry drivers has not been disputed. It is not the case of Revenue, that payment made by the assessee are not genuine or the payee is not identifiable. The assessee has explained that it is his business necessity that the assessee had to make payments to lorry drivers to deliver coke at the doors of customers.
M/S. S.D. MINERALS PVT. LTD. VERSUS JOINT COMMISSIONER OF INCOME-TAX CIRCLE –4 (OSD) SURAT
(2020) TaxCorp(LJ) 22337 (ITAT-SURAT) · https://taxcorp.in/FileOpenDT.aspx?ID=82684&Category=ITAT&CategoryType=Zip
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As during the year assessee had purchased the software and it was capitalized and the purchase of software has not been claimed as an expenditure. It is also a fact that no TDS was deducted by the assessee on the purchase price paid by it.
THE DY. COMMISSIONER OF INCOME TAX, CIRCLE – 6 (1) (1), BANGALORE VERSUS “FIS SOLUTIONS (INDIA) PRIVATE LIMITED, FORMERLY KNOWN AS M/S. SUNGARD SOLUTIONS INDIA PVT. LTD.
(2020) TaxCorp(LJ) 22336 (ITAT-PUNE) · https://taxcorp.in/FileOpenDT.aspx?ID=82685&Category=ITAT&CategoryType=Zip
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In the case of Manoj Kumar Jaiswal this Tribunal decided identical issue holding that the Act contains provision for declaring a return of income filed as invalid u/s.139(9) of the Act. There is no such provision for declaring a return of TDS as invalid. There is no power conferred, either under those provisions or under any other provisions of the Act, to declare the return of TDS filed u/s. 200(3) as non est.
SAROJA VASANTH VERSUS THE ASSISTANT COMMISSIONER OF INCOME TAX, CPC-TDS, GHAZIABAD.
(2020) TaxCorp(LJ) 22335 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=82647&Category=ITAT&CategoryType=Zip
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In this case the AO noted that the assessee has not maintained any books of accounts and as such he has committed a default within the meaning of provisions of sec 44AA of the Act which made the assessee liable for penalty u/s 271A. AO thus imposed the penalty u/s 271A which was confirmed by the ld. CIT(A). During the course of hearing, the Bench noted that the assessee did not maintain the books of account as provided u/s 44AA as the gross receipts of the assessee from business was more than ₹ 10 lacs.
SHRI SHARAD KANKARIA VERSUS THE ITO WARD- 6 (1) JAIPUR
(2020) TaxCorp(LJ) 22334 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=82648&Category=ITAT&CategoryType=Zip
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Merely because of method of calculating the interest income as adopted by the assessee company does not match with that adopted by the AO then no penalty can be levied. We are conscious of the fact that law for making addition in quantum proceedings is different from the law for imposing penalty. In recognition of this fundamental difference, both proceedings have been kept separate and independent.
M/S. ACCME (URVASHI PUMPS) ENGINEERS (P) LTD. VERSUS THE ACIT CIRCLE – 4, JAIPUR
(2020) TaxCorp(LJ) 22333 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=82649&Category=ITAT&CategoryType=Zip
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It is undisputed that the margin in trading of bullion is very less and 1% GP is considered as a reasonable prevailing margin. Thus, 99% of the export turnover can fetch only 1% margin being trading in bullion then in remaining 1.23% turnover of the assessee is representing the sale of jewellery. As per directions of the Bench the assessee has filed the details of exports from which it is clear that out of total turnover ₹ 53.56 Crore the turnover of trading in bullion is ₹ 52.96 Core and the turnover from sale of jewllery is ₹ 6,00,000/-.
SHRI NAVRATAN JOHARI VERSUS THE ACIT, CIRCLE-1, JAIPUR.
(2020) TaxCorp(LJ) 22332 (ITAT-INDORE) · https://taxcorp.in/FileOpenDT.aspx?ID=82651&Category=ITAT&CategoryType=Zip
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The assessee has now produced a letter from SPM & Sons, Kollam wherein it was stated that it had insisted for cash payments in view of the fact that the goods sold to them were mill goods, which is in high demand - as stated that the assessee’s Bank account was located at Punalur and for encashing the cheque/draft would require time. It was further mentioned in the said letter of SPM & Sons, Kollam that the purchases were effected in most of the days after the banking hours.
SHRI VINU SELVARAJ VERSUS THE INCOME TAX OFFICER, WARD-4, KOLLAM.
(2020) TaxCorp(LJ) 22331 (ITAT-COCHIN) · https://taxcorp.in/FileOpenDT.aspx?ID=82652&Category=ITAT&CategoryType=Zip
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The Officers vested with an obligation to discharge judicial functions are legitimately expected to resort to application of mind in a pragmatic and reasonable manner which is conspicuously absent in the instant case. For that reason, the impugned order Ext.P6 is set aside. The matter is remitted to the Commissioner of Income-tax (Exemption), Kochi to consider the revision petition afresh after affording an opportunity of hearing to the petitioner.
ST. JOSEPHS MONASTERY VERSUS INCOME TAX OFFICER (EXEMPTIONS) , COMMISSIONER OF INCOME TAX, (EXEMPTIONS), CENTRAL BOARD OD DIRECT TAXES
(2020) TaxCorp(LJ) 22330 (HC-KERALA) · https://taxcorp.in/FileOpenDT.aspx?ID=82743&Category=Judgment&CategoryType=Zip
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In the entire section 54, the requirement that the purchase to be made or the construction to be put up by the assessee, should be in the name of the assessee, is not expressly stated. Therefore, to attract section 54 of the Act, what is material is the investment of the sale consideration in acquiring or constructing residential premises. Once the sale consideration is invested in any of these manners, the assessee would be entitled to the benefit conferred under these provisions.
SMT. PINKY VERSUS THE INCOME TAX OFFICER WARD 2 (2) (1) BENGALURU.
(2020) TaxCorp(LJ) 22329 (ITAT-BANGALORE) · https://taxcorp.in/FileOpenDT.aspx?ID=82613&Category=ITAT&CategoryType=Zip
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CIT(A) affirmed the action of AO holding that disallowance of 12.5% in the business of wholesale trading of electronic items such as computer parties, accessorises, print cartridges and Sony tapes are rational and justified. We have noted that before us the assessee has not filed even a single document to substantiate his contention.
TEJASH SURESH SHAH VERSUS ITO-26 (3) (5) MUMBAI.
(2020) TaxCorp(LJ) 22328 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=82620&Category=ITAT&CategoryType=Zip
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The issue is covered in favour of the assessee by the ITAT decision for the A.Y. 2012-13. Provisions of section 45(3) is not a specific provision overrides the other provisions of the Act, importing a deeming fiction provided in section 50C of the Act cannot be extended to another deeming fiction created by the statute by way of section 45(3) to deal with special cases of transfer.
ASST. CIT, RANGE - 9 (1) (1) , MUMBAI VERSUS M/S. AMARTARA PVT. LTD.
(2020) TaxCorp(LJ) 22327 (ITAT-MUMBAI) · https://taxcorp.in/FileOpenDT.aspx?ID=82622&Category=ITAT&CategoryType=Zip
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During the previous relevant to AY 2014-15, the assessee qualifies as a non-resident in India and as a tax resident in Austria. The salary and allowances are earned by the assessee in respect of employment rendered in Austria due to his foreign assignment. Hence, the first two conditions enumerated under Article 15(1) of the India-Austria DTAA stands satisfied.
SREENIVASA REDDY CHEEMALAMARRI, HYDEREABAD. VERSUS INCOME-TAX OFFICER, INTERNATIONAL TAXATION – 1, HYDERABAD.
(2020) TaxCorp(LJ) 22326 (ITAT-INDORE) · https://taxcorp.in/FileOpenDT.aspx?ID=82626&Category=ITAT&CategoryType=Zip
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It is not in dispute that the assessee has obtained the cash from his own brother-in-law. It is also not in dispute that the assessee obtained the cash loan for the purpose of acquiring immovable property wherein he was constrained to resciend the agreement in the event the balance purchase consideration is not paid within the stipulated time and in such event the transaction has to be reversed.
A. VIJAY KUMAR, HYDERABAD. VERSUS DY. COMMISSIONER OF INCOME-TAX, CIRCLE – 4 (1) , HYDERABAD.
(2020) TaxCorp(LJ) 22325 (ITAT-HYDERABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=82627&Category=ITAT&CategoryType=Zip
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CIT(A) after considering the applicability of section 14A of the Act held that out of interest nothing was to be disallowed since the Assessing Officer had not attached attributability of such interest to any particular income and thus only administrative expenses were found to be disallowed. Thus, in this way, the disallowance of interest and administrative expenses in terms of section 14A have already been considered and decided by Ld.CIT(A) in an appeal against original order passed u/s.143(3) of the Act.
THE ACIT (OSD) CIRCLE-8, AHMEDABAD VERSUS M/S. TORRENT POWER LIMITED
(2020) TaxCorp(LJ) 22324 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=82628&Category=ITAT&CategoryType=Zip
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Identity, creditworthiness and genuineness of the transactions, all three requirements go hand-in-hand, however, among all the three, the genuineness of the transaction shall take precedence and the same should be demonstrated clearly when the same is called in question by the Revenue.
INCOME TAX OFFICER, WARD-BHIWADI VERSUS SMT. MANISHA TOMAR W/O SH. AJENDRA TOMAR
(2020) TaxCorp(LJ) 22323 (ITAT-JAIPUR) · https://taxcorp.in/FileOpenDT.aspx?ID=82563&Category=ITAT&CategoryType=Zip
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As additions concerned for want of TDS, we find that the said payment was made for printing of leaflet and thus it is in the nature of purchase and VAT has been charged by the seller of the goods under Delhi VAT Act and therefore, the provisions of TDS are not applicable on such facts, no inference is called for. This ground is also dismissed.
ITO, WARD NO. -1 (3), GHAZIBAD VERSUS M/S HERCULES CRANES PVT. LTD.
(2020) TaxCorp(LJ) 22322 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82564&Category=ITAT&CategoryType=Zip
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Both the lower authorities namely, the Ld. CIT(A) as well as the AO have failed to bring anything on record to prove conclusively, that the allegation of payment of on-money is in consonance with circle rate or with valuation of the land by Stamp Duty Authority.
SHRI VIJAY MOHAN GUPTA, NEW DELHI. VERSUS INCOME TAX OFFICER, WARD- 32 (3), NEW DELHI.
(2020) TaxCorp(LJ) 22321 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82565&Category=ITAT&CategoryType=Zip
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The inaction of the AO for not collecting the details of the parties from whom the assessee has received cheque does not absolve the assessee from furnishing the details of the parties as discussed above. As such, the liability under section 68 of the Act is upon the assessee to justify the source of deposits in the manner described aforesaid.
SHAUNAK SHAILESH SHAH, AHMEDABAD VERSUS I.T.O., WARD-15 (4), AHMEDABAD.
(2020) TaxCorp(LJ) 22320 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=82555&Category=ITAT&CategoryType=Zip
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We find the reasons given by the ld. AR for the assessee are without merits. We further find, when there is a revision order and an adverse order against the assessee then why the assessee should not have filed the appeal in time, where the issue under consideration was undisputedly decided against the assessee. Considering the same, we are of the opinion that the delay is not condonable and the reasons given by the applicability of the judgment of the Hon’ble Bombay High Court in the case of Kolte Patil Developers Ltd. is directly applied to this case.
SUNIL MANAKCHAND KOTECHA VERSUS ACIT, CIRCLE-1, NASHIK, PR. CIT, CENTRAL-NAGPUR NAGPUR.
(2020) TaxCorp(LJ) 22319 (ITAT-PUNE) · https://taxcorp.in/FileOpenDT.aspx?ID=82556&Category=ITAT&CategoryType=Zip
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Information and not conclusive evidence on the basis of which addition can be made. But in the present case, this statement is to be appreciated keeping in mind that certain papers and diaries inventorised as Annexure-4, 5 and 6 were found and seized. The assessee itself did not dispute disclosure made by it during the course of survey, and honoured to the extent of ₹ 23 lakhs.
CRP ASSOCIATES VERSUS ACIT, GANDHINAGAR CIR. GANDHINAGAR.
(2020) TaxCorp(LJ) 22318 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=82557&Category=ITAT&CategoryType=Zip
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