ITAT Judgments - Page 5

No penalty for non deduction of TDS on sale of SIM Cards/recharge coupons at discounted rate

Vodafone Cellular Limited Vs. Additional Commissioner of Income Tax, TDS Range (ITAT Pune)

Tribunal held that sale of SIM Cards/recharge coupons at discounted rate to distributors is not commission and therefore, not liable to TDS provisions u/s. 194H of the Act. Once, the substratum for levy of penalty has eroded there is no question for sustaining the penalty....

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GP on unaccounted Sales cannot be less than that of Accounted Sales

Income Tax Officer Vs Paraskumar V.Kataria Prop. (ITAT Rajkot)

We note that GP rate on the accounted sales estimated by the assessee himself stands at 07.29%. We thus fail to understand as to how the GP for the unaccounted sale should be so lower at 03.56% which is less than half of the GP rate declared by the assessee himself on accounted sales....

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No disallowance for Non deduction of TDS on amount paid to Tata Group Companies

Shri Navubha J. Chavda Vs Income Tax Officer (ITAT Rajkot)

In the present appeal, the assessee is aggrieved by the action of the Commissioner of Income Tax (Appeals)-Jamnagar [CIT(A)- in short] in confirming the addition of Rs.3,25,528/- made by the Assessing Officer (AO) under s.40(a)(ia) of the Income Tax Act, 1961 (hereinafter referred to as the Act)....

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Disallowance U/s. 40(a)(ia) also applies to payment made during the year without TDS deduction

I.T.O. vs. M/s. Ruia Sons Pvt. Ltd. (ITAT Kolkata)

Provision of section 40(a)(ia) of the Act are applicable not only to the amounts which is shown as payable on the date of balance sheet but it is applicable to such expenditure which becomes payable at any time during the relevant previous year and was actually paid within the previous year. ...

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No TDS deductible on Tips received by Hotel Staff

EIH Ltd., Vs ITO (ITAT Delhi)

Since TIPS were received from customers and not from employer these would be chargeable in the hands of employee as income from other sources and section 192 would not get attracted on facts of case....

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No cessation of liability merely because amount is outstanding for several years

The Income Tax Officer Vs M/S. Vikram A. Pradhan (ITAT Mumbai)

Amounts shown as liabilities / Outstanding in the Balance Sheet cannot be deemed to be "cessation of liability" under Section 41(1) of Income Tax Act, 1961 merely because the liabilities are outstanding for several years. Assessing Officer has to bring on record any material evidence to establish that there was cessation of liability in ...

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No Penalty for addition due to mere non submission of supportings

Farmson Pharmaceuticals Gujarat Pvt. Ltd. Vs Deputy Commissioner of Income Tax (ITAT Ahmedabad)

There is hardly any dispute about the settled law that quantum and penalty proceedings are altogether different and each and every disallowance/addition made in the course of former proceedings does not ipso facto attract the latter penal action as per hon'ble apex decision in CIT vs. Reliance Petroproducts Pvt. Ltd. 322 ITR 158 (SC)....

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Duty of AO in case of Reassessment after 4 Year of original assessment

ACIT Vs Shri Venkataraman S. Iyer (ITAT Ahmedabad)

AO bound to demonstrate that the assessee has failed to disclose material facts fully and truly which has resulted in escapement of income. If he fails to demonstrate this aspect, then, in the case where scrutiny assessment has been made and four years have expired, he cannot take action under section 147 of the Income Tax Act....

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No Penalty when Quantum addition itself not sustained; No Statutory Obligation to follow FIFO Method for Stock Valuation

Pareshkumar Bhikamchand Shah Vs. ITI (ITAT Ahmedabad)

P:enalty u/s 271(1)(c) of the Act has been levied on the addition made by ld. Assessing Officer but when the basis i.e. quantum addition has itself been deleted by the Co-ordinate Bench,...

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Section 40(b)(v): AO cannot compel assessee to charge interest or remuneration

M/s Sagar Foods Vs ITO (ITAT Ahmedabad)

It is correct that the terms of partnership provided payment of interest at the rate of 12 per cent on capital of partners as well as remuneration to the working partners. The assesses, however, did not make payment thereof to the partners nor made any provision of liability in the books of account...

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