"05 October 2022" Archive

Expenses accounted in regular books of accounts, cannot be disallowed under Section 69C

Dell International Services India Private Limited Vs JCIT (ITAT Bangalore)

As entire amount is debited to the Profit and Loss account and accounted in the regular books of accounts, the same cannot be disallowed under Section 69C ...

ITAT allows section 80G Deduction as sufficient evidence produced by Assessee

JCIT Vs Shree Ganesh Construction (ITAT Ahmedabad)

JCIT Vs Shree Ganesh Construction (ITAT Ahmedabad) It is observed that even though the original receipt for payment of donation of Rs.50,000/- made to Chief Minister Kanya Kelvani Nidhi was not produced by the assessee as the same was lost or misplaced, sufficient evidence was produced by the assessee to support and substantiate its claim...

Fee receipt available in Public domain cannot be treated as incriminating material

ACIT Vs Padmshree Dr. D.Y. Patil University (ITAT Mumbai)

ACIT Vs Padmshree Dr. D.Y. Patil University (ITAT Mumbai) Before us, the main plea of the Ld. CIT-­DR was that the development fee collected by the assessee trust on the basis of a single fee receipt from the students, shows that the students didn’t had any option but to mandatorily give/remit the fees (including the […]...

Addition based on investigation wing report in violation of principles of natural justice not valid

Prakash Javia HUF Vs ITO (ITAT Indore)

Prakash Javia HUF Vs ITO (ITAT Indore) Records placed before us also shows that report of the investigation wing or any enquiry conducted from 3rd persons were not made available to the assessee which thus grossly violates the principles of natural justice. As the assessee never got opportunity to go through these reports this action [&he...

In absence of International Transaction ALP Determination not necessary

DCIT Vs Ferrero India Pvt. Ltd (ITAT Pune)

DCIT Vs Ferrero India Pvt. Ltd (ITAT Pune) The main contention that was advanced by the assessee in this case before the Tribunal was that the existence of international transaction cannot be inferred by the T.P.O in the absence of any actual transaction and the presumption by the lower authorities that the benefit had endured […]...

Manual Filing of Appeal instead of online due to difficulty in e-filing – ITAT directs CIT(A) to accept appeal

Pamstar Exports Vs ACIT (ITAT Mumbai)

Pamstar Exports Vs ACIT (ITAT Mumbai) Assessee has filed the appeal physically on 26.04.16 which was before the due date of filing the appeal and Ld. CIT(A) has dismissed the appeal holding that assessee has filed the appeal manually which is invalid. Admittedly, the scheme of physical filing of appeal was replaced by electronic /online [...

Advice of Consultant not constitute sufficient cause to condone delay in appeal filing

Shri Dilip Manichand Nahar Vs ITO (ITAT Pune)

Shri Dilip Manichand Nahar Vs ITO (ITAT Pune) ITAT held that The reason explained by the assessee in both the notarized affidavits that the appeal was not filed on the advice of his Consultant does not constitute a sufficient cause to condone the delay of 807 days, thus the reasons stated in both the notarized […]...

Depreciation not allowable if proof of addition to fixed Assets not submitted

Owens Corning India Pvt. Ltd. Vs ACIT (ITAT Mumbai)

Owens Corning India Pvt. Ltd. Vs ACIT (ITAT Mumbai) We observe that in A.Y. 2006-07 Assessing Officer observed that assessee has claimed depreciation of ₹.93,40,242/- and when the assessee was asked to submit the supporting evidences in support of the above claim, assessee failed to furnish the supporting evidences such as bills, date o...

ATM Machines Eligible for Depreciation rate of Computer Software

Financial Software and Systems Private Limited Vs DCIT (ITAT Chennai)

In other words, the test would be: Does an ATM fulfil the functions of a Computer in the business activity of an assessee? Is it a tool of his trade with which it carries on his business? ...

Expense on routine replacement of spare parts is Revenue Expenditure

Angalakshmi Spinning Mill Vs ITO (ITAT Chennai)

Explore Angalakshmi Spinning Mill vs ITO ITAT Chennai case. ITAT allows spare parts replacement as revenue expenditure. Full text of ITAT Chennai order....

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