Income Tax Latest

Where the High Court has framed substantial question of law in respect of the additions confirmed by the ITAT, penalty u/s 271(1)(c ) of the Income Tax Act cannot be levied as the same are on debatable and disputable issues on which difference of opinion can legitimately exist – ITAT Dellhi

by Team Taxcharcha12/04/20190561

M/S ADMACH AUTO LIMITED, ITA NO. 9543/DEL/2019

[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2019/04/Bombay-HIgh-Court.odt” comments=”true” SVG=”true”]

To Download, GE Packaged Power Inc. Vs. DCIT (International Taxation)

previous post

ICAI issues Exposure Draft on Accounting Standard 34 Interim Financial Reporting

next post

That the return of notices issued under Section 133(6) unserved by the postal authorities is not sufficient to reach to the conclusion that sales to those parties are not genuine where the assesse has provided all the documentary evidence to prove genuineness of the sales. Further, disallowance on the ground of non-genuine sales cannot be a basis for addition u/s 68 of the Income Tax Act, 1961 – ITAT Delhi

Team Taxcharcha