Recent Case Laws - Income Tax
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Income Tax
the provisions of Sec.2(22)(e) were not applicable since the payment was mere reimbursement of expenditure by M/s PHL – ITAT Mumbai
The provisions of Sec.2(22)(e) were not applicable since the payment was mere reimbursement of expenditure by M/s PHL. However, Ld.…
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Income Tax
Service of notice upon a dead person under section 142(1) would not authorise him to assume jurisdiction to pass assessment order on the Legal Representatives – ITAT Ahemdabad
It is found that before service of notice under section 142(1), assessee had already expired. His legal heirs did not…
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Income Tax
Where the assessee provided all the confirmation of the creditors at the CIT(A) level, the orders of the lower authorities set aside and send back for reconsideration – ITAT Delhi
During the assessment proceedings, the Assessee fails to provide confirmation of 04 creditors and the AO added the whole amount…
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Income Tax
Where assessment is framed without reference to any incriminating document or material found during search, the assessment is academic in nature- ITAT Delhi
Where the CIT(A) decided the appeal that that no assessment could be framed under section 153A because no incriminating document…
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Income Tax
Appeal withdrawn from ITAT as the same is filed to be settled under Vivad Se Vishwas Scheme- ITAT Delhi
Three appeals is withdrawn from ITAT Delhi as the assessee is availing the Vivad Se Vishwas Scheme, 2020 for the…
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Income Tax
Registration u/s 12AA of the Income Tax Act, 1961
Registration u/s 12AA of the Income Tax Act, 1961 nowhere stipulates that the trust should carry on certain charitable activities.…
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Income Tax
Where the assesse has made the FDR out of borrowed funds, the interest on such FDRs cannot be added back by invoking the provisions of section 57(iii) of the Income Tax Act, 1961 – ITAT Delhi
Crux : Where the assesse has made the FDR out of borrowed funds, the interest on such FDRs cannot be…
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Income Tax
Where the additions and disallowances are deleted by the higher authorities, there is no basis for levying penalty u/s 271(1)(c) of the Act – ITAT Delhi
Crux : Where the additions and disallowances are deleted by the higher authorities, there is no basis for levying…
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