"17 December 2017" Archive

Applicability of time-limit U/s. 153(2A) when ‘assessment’ is set aside and an ‘assessment order’ being set aside

Nokia India (P) Ltd. Vs Dy. CIT (Delhi High Court)

In other words, in all instances of an assessing officer having to pass a fresh assessment order upon remand where section 153(2A) would apply, the assessing officer would be bound to follow the time-limit imposed by sub-section (2A). Where the assessing officer was only giving effect to an appellate order, then section 153(3)(ii) of the ...

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Tax Exemption to encourage Industrialization cannot be equated with Tax Refund

M/s. Ultratech Cement Limited Vs. State Of Gujarat And Ors. (Delhi High Court)

Exemption from tax to encourage industrialization cannot be equated with refund of tax. They are two different legal and distinct concepts. An exemption is a concession allowed to a class or individual from general burden for valid and justifiable reason. ...

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Receipt of alimony from ex-husband is nothing but Gift and is exempt

Prema G. Sanghvi Vs. ITO (ITAT Mumbai)

In our view, no law prevents such a lump sum payment by a husband to his wife in lieu of her maintenance for the whole life. In the proviso to section 56(2)(vi) any sum received from a relative is exempt from tax. In the definition of relative, the receipt from whom is exempt under the Act, inter alia not only the spouse but the brother a...

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Accommodation entries: AO cannot make addition without showing that explanation of Assessee is not satisfactory or incorrect

ITO Vs. Shreedham Construction Pvt Ltd (ITAT Mumbai)

ITO Vs. Shreedham Construction Pvt Ltd (ITAT Mumbai) Section 68 casts the initial burden of proof on the assesse to show prima facie and to explain the nature and source of credit found in its When the statute places the burden of proof in income tax cases on the tax payer, it is understood to […]...

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Sec. 43B: Amusement Tax paid before due date of Filing Income Tax Return is eligible for deduction

Ratan Saha Vs. ITO (ITAT Kolkata)

The Kolkata bench of Income Tax Appellate Tribunal recently ruled that Amusement Tax paid before the due date of filing of Income Tax Return is eligible for deduction under the Income tax Act, 1961. ...

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Non-issue of notice u/s. 143(2) after filing of return makes assessment u/s. 143(3) /147 bad in law

Dr. SB Kalidhar Vs. ITO (ITAT Delhi)

Non-issue of notice u/s. 143(2) after filing of the return of the Assessee, by way of letter, makes the assessment order passed u/s. 143(3) r.w.s. 147 bad in law. ...

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Intimation issued U/s. 143(1) cannot stop Assessee from filing revised return

TATA AIG General Insurance Company Ltd. Vs DCIT (ITAT Mumbai)

Intimation issued under section 143(1) cannot be treated as order of assessment and on the basis of such order the assessee denied his statutory rights to file a revised return within the period of limitation....

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Assessment U/s. 147 not become invalid for satisfaction of Reasons recorded by both CIT & JCIT

Mayurbhai Mangaldas Patel Vs. Income Tax Officer (ITAT Ahemdabad)

Merely because an even higher authority has expressed similar satisfaction does not obliterate the satisfaction of appropriate authorities....

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Section 263: Revisional order becomes legally fragile on failure to provide opportunity of hearing to assessee

Bses Rajdhani Power Ltd. Vs. Principal Commissioner Of Income Tax (Delhi High Court)

What is contemplated by Section 263, is an opportunity of hearing to be afforded to the assessee. Failure to give such an opportunity would render the revisional order legally fragile not on the ground of lack of jurisdiction but on the ground of violation of principles of natural justice....

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Depreciation @ 100% on’ Advertisement hoardings treated as temporary structures allowable

D.C.I.T. Vs. M/s. One Ad Display Pvt. Ltd. (ITAT Kolkata)

Depreciation @ 100% on' hoardings treated as temporary structures as against the treatment given by the AO as plant and machinery allowing depreciation @ 15%....

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