ITAT Judgments judiciary-2

Income Tax Exemption to MIG Cricket Club under department scanner

MIG Cricket Club Vs Director of Incometax (ITAT Mumbai)

We are prima facie of the opinion that the activities of the assessee of Banquet Hall Hiring, Hospitality (Restaurants) and Permit Room (Bar) are in the nature of carrying on trade, commerce, or business for consideration, which are hit by proviso to Section 2(15) of 1961 Act. ...

Read More

No TDS liability can be imposed for notional provision reversed afterwards

State Bank of India Vs Income Tax Officer (ITAT Bangalore)

If the assessee is able to establish that it was only a notional provision which was reversed afterwards, then no TDS liability can be imposed on the assessee....

Read More

Unaccounted Money Received on Sale of Agricultural Land is not Taxable

Income-tax Officer Vs Shri Abraham Varghese Charuvil (ITAT Cochin)

Any surplus money arising to an assessee on sale of agricultural land would always partake the character of agricultural income itself. The consideration stated in the Registered Sale Deed was agricultrual income. Likewise, the on money also should be treated as agricultural income. ...

Read More

Misappropriation of fund cannot be ground for cancellation of Trust registration

Vignana Jyothi Vs Director of Income Tax (ITAT Hyderabad)

The Hyderabad bench of Income Tax Appellate Tribunal (ITAT) held that Collection of donation by Educational Institution/ Society is not ‘Capitation Fee. ...

Read More

Right to receive a property is a valuable and transferable right

Satnam Overseas Exports Vs DCIT (ITAT Delhi)

ITAT has held that right to receive a property is a valuable and a transferable right and falls within the ambit of "capital asset" and hence profit earned on sale of allotment right (without physical possession of the property) is taxable as Capital Gains and not as Income from other sources....

Read More

No Tax on amount not receivable under a void contract

I- Process Services (India) Pvt. Ltd. Vs DCIT (ITAT Delhi)

On the contract becoming void ab initio, the transaction of income from ICICI Home Financing Co. Ltd. was reversed by the assessee since there was no legally enforceable right to such income on the contract being declared as void ab initio....

Read More

Sec. 12AA registration cannot be denied merely for having activities outside India

National Informatics Centre Services Inc. Vs DIT (ITAT Delhi)

On the facts and circumstances of the case, the learned Director of Income Tax (Exemption)has erred both on facts and in law in rejecting the application of the assessee for registration under Section 12A of the Income Tax Act, 1961....

Read More

Purchase cannot be termed bogus for mere non-appearance of supplier

M/s Beauty Tax Vs DCIT, ((ITAT Jaipur)

Merely non-appearance of the supplier in absence of any other corroborate evidence cannot be a basis to justify the stand of the Revenue that the transaction of purchase is bogus. ...

Read More

Closely connected international transaction can be clubbed / aggregated

M/s. Kaypee Electronics & Associates Pvt. Ltd. Vs Deputy Commissioner of Income Tax (ITAT Bangalore)

These are appeals filed by the assessee-company directed against the assessment orders dated 24.12.2014, 17.12.2015 and 30.11.2016 for the assessment years 2010-11, 2011-12 and 2012-13 respectively u/s. 143(3) r.w.s. 144C of the Act by the Deputy Commissioner of Income-tax / Assistant Commissioner of Income-tax, Circle-4(1)(1), Bangalore....

Read More

S. 263 Inadequate enquiry cannot be termed as lack of enquiry

Small Wonder Industries Vs CIT-24 (ITAT Mumbai)

Uncontrovertedly, necessary details/reply to the questionnaire were filed/produced by the assessee and the same were examined by the Assessing Officer, therefore, it is not a case of lack of enquiry by the Assessing Officer...

Read More
Page 1 of 37612345...102030...Last »

Browse All Categories

CA, CS, CMA (3,354)
Company Law (3,238)
Custom Duty (6,410)
DGFT (3,340)
Excise Duty (3,989)
Fema / RBI (3,152)
Finance (3,316)
Income Tax (24,362)
SEBI (2,658)
Service Tax (3,261)

Search Posts by Date

April 2017
M T W T F S S
« Mar    
 12
3456789
10111213141516
17181920212223
24252627282930