Yearly Archive: 2019

The issue is restored to the file of the AO as the assessee was not provided adverse material used by the AO while framing assessment.

The issue is restored to the file of the AO as the assessee was not provided adverse material used by the AO while framing assessment. Further Issues of bogus share capital and share premium requires to be disposed in the…
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46A Rule, 68, bogus, bogus share capital, Bogus share premium, Delhi Tribunal, share premium

December 4, 2019

As per the insertion of the “Explanation” to sub-section (2) of section 11, if a trust donates its entire income for a year to another charitable trust, it would still be entitled to exemption under section 11(1)(a).

As per the insertion of the “Explanation” to sub-section (2) of section 11, if a trust donates its entire income for a year to another charitable trust, it would still be entitled to exemption under section 11(1)(a). IN THE…
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11(1)(a), 11(2), Delhi High Court

December 4, 2019

Eligible credit को मात्र इस आधार पर दिए जाने से मना नहीं किया जा सकता कि निर्धारिती ने TRAN-1 form सही नहीं भरा। सरकार या तो ऑनलाइन TRAN-1 सही करने का ऑप्शन दें या मैनुअली भरे हुए को सही मानकर क्लेम स्वीकार करें

Eligible credit को मात्र इस आधार पर दिए जाने से मना नहीं किया जा सकता कि निर्धारिती ने TRAN-1 form सही नहीं भरा। सरकार या तो ऑनलाइन TRAN-1 सही करने का ऑप्शन दें या मैनुअली भरे हुए को सही मानकर…
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117(1), 120A, 140(1), 140(2), 140(5), 164, 226, Central Excise Act 1944, Central Goods & Service Tax Act 2017, Central Goods Service Tax Rules 2017, Cenvat Credit Rules, Constitution of India, GST, Gujrat High Court

November 29, 2019

No addition as undisclosed income can be made on the basis of documents which are dumb and incapable of any interpretation in proceedings u/s 132, 158BC read with Section 158BD.-IT-CASES-204-2020

No addition as undisclosed income can be made on the basis of documents which are dumb and incapable of any interpretation in proceedings u/s 132, 158BC read with Section 158BD PRINCIPAL COMMISSIONER OF INCOME TAX vs. VIRENDER KUMAR BHATIA…
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132, 158BC, 158BD, High Court, incriminating material

November 19, 2019

Assessment framed in the name of non-existing entity/ died person is null and voidab initio ITAT BOMBAY on Nov 6, 2019

Assessment framed in the name of non-existing entity/ died person is null and voidab initio ITAT BOMBAY on Nov 6, 2019 M/S. CHURU TRADING CO. PRIVATE LIMITED (Now Mergced with Spirit Textiles Pvt. Ltd.) AND ANR. vs. ASSISTANT COMMISSIONER…
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143(3), 144C, 153, 153(1), 153(3), 170, ITAT Mumbai

November 17, 2019

It is well settled that in case the books of accounts are rejected the income of the business in which the Assessee was engaged can be determined by estimating the profit rate considering past history.

INCOME TAX OFFICER vs. ASHOK KUMAR PROP. M/S CHHABRA TIMBER STORE IN THE ITAT CHANDIGARH BENCH ‘A’ N.K. SAINI, VP & RAJPAL YADAV, JM. ITA No. 12/Chd/2019 8 Nov, 2019 Section 36(1)(iii), 44AB, 133A, 143(1), 143(3), 144, 145(3 Asst. Year…
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133A, 143(1), 143(3), 144, 145(3), 36(1)(iii), 44AB, Chandigarh ITAT

November 16, 2019

Though the limitation period is available for passing the order, not for service but as per the settled issue, the order must be served on the assessee within the reasonable time otherwise Order is Annulled.

Nov 8, 2019-ITAT VISHAKAPATNAM hold that The additional ground is admitted if it goes to the root of the order. Though the limitation period is available for passing the order, not for service but as per the settled issue, the…
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263-Revision of orders prejudicial to revenue, Limitation period, Revision of orders prejudicial to revenue-Section 263, VISHAKAPATNAM TRIBUNAL

November 16, 2019

Nov 8, 2019-ITAT VISHAKAPATNAM hold that The additional ground is admitted if it goes to the root of the order.

Nov 8, 2019-ITAT VISHAKAPATNAM hold that The additional ground is admitted if it goes to the root of the order. Though the limitation period is available for passing the order, not for service but as per the settled issue, the…
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263-Revision of orders prejudicial to revenue, Additional Ground, Limitation period, Revision of orders prejudicial to revenue-Section 263, VISHAKAPATNAM TRIBUNAL

November 16, 2019

1.4.2017 से केवल धारा 143(2) की प्रोसिडिंग के आधार पर करदाता का रिफंड नहीं रोका जा सकता

केवल धारा 143(2) की प्रोसिडिंग के आधार पर करदाता का रिफंड नहीं रोका जा सकता 14th Oct;2019 को दिल्ली हाईकोर्ट ने फैसला देते हुए कहा कि 1.4.2017 से धारा 241 हटा दी गई है। धारा 241A के प्रावधानों के अनुसार…
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141(1)(D), 143(2), 241, 241A, Delhi High Court

November 16, 2019

No valid addition can be made by merely proceeded to make allegation of suppression of production on the basis of excess consumption of manufacturing cost and electricity consumption it cannot be concluded that the assessee’s books of account were not reliable or the assessee is engaged in producing finished goods outside the books of account.

On 4th Nov, 2019, ITAT CUTTACK held that no valid addition can be made by merely proceeded to make allegation of suppression of production on the basis of excess consumption of manufacturing cost and electricity consumption it cannot be concluded…
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145(3), ITAT CUTTACK

November 16, 2019