ITAT Judgments - Page 4

AO has no power to review entire assessment order on debatable issues and to make additions in order U/s.154

M/s City Clinic Pvt. Ltd. Vs. ACIT (ITAT Chandigarh)

Hon'ble Supreme Court in the leading case, ITO vs. Volkart Brothers [(1971) 82 ITR 50 (SC)] has held that a mistake apparent on the record must be an obvious and patent mistake and not something which can be established by a long drawn process of reasoning on points on which there may conceivably be two opinions....

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Commission paid against Guarantee by Directors in violation of RBI guidelines is not allowable

Eastman Industries Ltd. Vs A.C.I.T., Circle 10(1) (ITAT Delhi)

Assessing Officer to examine from the original bank documentations/ agreements/ sanction letter and to ascertain whether the requirement of non-payment of commission to the guarantors was incorporated in the terms and conditions of bank for sanctioning of credit limit or whether any undertaking to this effect was taken from the company or...

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If transactions are at ALP no further income can be said to be attributable to assessee in India from PE

Taj TV Ltd. Vs. Additional Director of Income Tax (ITAT Mumbai)

Assessee- company was engaged in business of broadcasting of sports channel, namely Ten Sports across globe, including India. Its subsidiary (Taj India) was appointed as exclusive distributor of TV Channel Ten Sports to cable operators and other permitted systems on principal-to-principal basis....

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Assessee can claim expense on removal of encumbrance created by ancestors

Smt. Maniza Jumabhoy, Vs Asst. Commissioner Income of Tax (ITAT Hyderabad)

During the course of appellate proceedings, the representative of the assessee submitted that the expenditure towards proportionate compensation of Rs. 79,36,350/- is allowable u/s. 48(1) of the Act, as upon succession of the impugned property, the assessee had paid the compensation as per the document submitted. The representative averre...

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Notice by affixture to avoid expiration of time limit to serve notice is invalid

Heaven Distillery (P) Ltd. Vs. ITO (ITAT Mumbai)

The inaction or delay on the part of the assessing officer in issuing notice under section 143(2) of the Act cannot be a ground to straightway effect service by affixture....

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HUF income cannot be taxed in members hand after demise of Karta

Smt. P. G. Sunandamma Vs Income Tax Officer (ITAT Bangalore)

In P.G Sunandamma Vs. ITO, the ITAT, Bangalore, held that the transfer of excise license to a member of HUF on death of Karta cannot be reason to assess HUFs income in the hands of that individual member....

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AO cannot review assessment order already framed vide section 154 rectification

M/s City Clinic Pvt. Ltd. Vs. ACIT (ITAT Chandigarh)

he issue raised by the AO in proceeding under section 154 of the Act is highly debatable and requires the issue to be reconsidered by the AO about applicability of provision of section 115JB of the Act which was not raised by the AO in the original assessment proceeding. Therefore AO has no power to […]...

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ITAT cannot allow AO to cover up the deficiency in its case

Income Tax Officer Vs M/s. Aditya Narain Verma [HUF] (ITAT Delhi)

it is a very settled position that the power of ITAT in setting aside cannot be exercised so as to allow Assessing Officer to cover up the deficiency in its case....

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TDS credited can be claimed on Unrealised Rent / Bad Debts

Shri Rangji Realties Pvt. Vs ITO (ITAT Mumbai)

TDS credit is allowed on deduction of Income under u/s 80IA, 8oIB, 80IC of the act, etc and also TDS credit is allowed on bad debts claimed u/s 36(1 )(vii) of the Act. Accordingly I am of the view that that the Unrealized rent is duly offered to tax by the assessee at first instance, and then the same is claimed as deduction from Rental I...

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Protective assessment without substantive assessment is invalid

Income Tax Officer Vs M/s Fussy Financial (ITAT Delhi)

In this case we find that AO has not made any substantive assessment. There may be substantive assessment without any protective assessment, but there cannot be any protective assessment without there being a substantive assessment....

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