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Archive: 03 April 2022

Posts in 03 April 2022

Issuance of Section 143(2) notice mandatory in Section 153A proceedings

April 3, 2022 2421 Views 0 comment Print

ACIT Vs Dr. P. S. Prasad (ITAT Hyderabad) Learned CIT-DR vehemently reiterated the Revenue’s foregoing pleadings that the issuance of Section 143(2) notice is nowhere mandatory in Section 153A proceedings initiated in furtherance to a search in light of the various case law cited therein. We find no merit in the Revenue’s instant grievance since […]

Ignorance of Law is not a reasonable cause to delete Section 273 Penalty

April 3, 2022 1938 Views 0 comment Print

Mohd Zaheeruddin Zeeshan Ayub Vs ITO (ITAT Hyderabad) Learned Counsel  contended during the course of hearing that this assessee is drawing salary income on regular basis and it was only in the impugned assessment year that he had carried out corresponding transactions requiring audit report u/s.44AB of the Act. He therefore pleaded assessee’s ignorance only […]

CESTAT allows two day delay in filing appeal due to calculation error

April 3, 2022 648 Views 0 comment Print

Dow International Pvt Ltd Vs Commissioner of Customs (CESTAT Delhi) The Appellant is in Appeal against impugned Order-in-Appeal whereby, the Commissioner (Appeals) have rejected the Appeal on the ground of limitation. It has been observed in the impugned order that although the Appellant had filed an application of condonation of delay but have not given […]

Unsecured Loan from Kolkata Parties: ITAT confirms additions

April 3, 2022 3324 Views 0 comment Print

Mahendra Kumar Agarwal Vs ACIT (ITAT Hyderabad) It is an admitted factual position that this assessee is assessed and lives in Hyderabad whereas all the corresponding loan creditors parties are from Kolkata only. And that too, there is not even a single loan agreement between the assessee and the said parties, reflecting the terms of […]

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