ITAT Jaipur held In the case of Nirmal Kumar Bardia vs. DCIT that argument of the assessee that the assessee had disclosed salary received from RMC Gems Thai Co. Ltd., Bangkok voluntarily has not substantiated with any evidence.
ITAT Jaipur held In the case of ACIT vs. Shri Johari Lal Sodhani that the CIT (A) had given various reasons of retraction and also has considered the evidence for not honouring the statement made under section 132(4).
I would like to attract your attention for seeking extension of the Tax Audit date of 30th September 2015 as it is totally unjustified to look towards the fraternity of Chartered Accountants to complete their job within 23 days against statutory availability of 180 days.
As I close this article today on September 6, 2015, the Indian Express is carrying an interview of Mr. Sitaram Yechuri with the heading If caste numbers are known, Janata Parties will gain. That’s why Census data is not coming out.
ITAT Delhi held in Ambience Hotel & Resort Pvt. Vs CIT that if the AO had done his assessment ignoring the provisions of the IT act and TPA and ignoring the examinations/inquiry then that assessment was erroneous
ITAT held in Almora Urban Co-operative Bank Ltd Vs ITO that TDS was not required to be deducted when co-operative society pays interest to its members as per sec 194A(3).
Delhi High Court held in CIT Vs DLF Universal Ltd held that If assessee got hundi from its suppliers and get it discounted from the bank ,then the discounting charges paid by the assessee would be treated as a revenue expense;
ITAT held in Envogue Wood Working Pvt Ltd Vs ACIT that if the assessee had taken and repaid the loan in cash and provided the sufficient reasonable cause of doing such then penalty u/s 271D & 271E would not be imposed.
ITAT Delhi held in Executive solutions Pvt Ltd Vs ITO that reasonable opportunity of being heard should be given to the assessee as per the principle of natural justice irrespective of the fact the number of times opportunity of being heard had already been given to the assessee.
Public Education Society Vs DDIT (Exemptions) (Bangalore ITAT) Since the expenditure incurred by the assessee was more than 93% of the gross receipts, no part of the gross receipts are liable to be taxed in the year under consideration, as the balance amount was set apart for application in the next year.
