Bapujibuwa Nagari Sahakari Pat Sanstha Maryadit VS JCIT (ITAT Pune) The expression ‘reasonable cause’ has to be considered pragmatically and if the facts of the present case are examined keeping this legislative spirit in mind, we find that there were enough circumstances to show that the assessee company had acquired bona-fide belief that its activities […]
D.S. Suresh vs ACIT (ITAT Bangalore) In the present case, the addition is based on the diary jottings found during the course of search action in the case of RNSIL on 16.02.2012. We have carefully gone through the diary jottings recorded earlier part of this order. It contains the entry No.5 – MLA Tarikere Rs.27 […]
M/s Perfect Constech Pvt. Ltd. Vs ACIT (ITAT Delhi) Penalty not leviable for non deduction of TDS under section 271C for EDC charges paid to HUDA as it is non statutory contractual liability It is seen that in Para 4.3.2, subparagraph (iv) of the order passed u/s 271C of the Act, the AO has himself […]
ITO Vs Sh. Sunil Nayyar (ITAT Delhi) In the instant case, the AO has not pointed out any accounting defects in the books of accounts. Rather he is summarily ignored the books of accounts but has proceeded to invoke section 145(3) which is bad in law.” 14. The ld. CIT (A) held that there is […]
Alliance Filaments Ltd Vs ACIT (Gujarat High Court) A plain reading of the reasons recorded revels that the Assessing Officer has solely relied on the information received from the Investigation Wing- Surat. We are of the view that, the Assessing Officer has not applied his independent mind while recording the reasons that the income has […]
Sushila Birla Memorial Institute Vs ITO (ITAT Kolkata) There is no dispute of the fact that the assessee Trust exists solely for philanthropic purposes and not for the purpose of profit. There is also no dispute of the fact that the annual receipts of the assessee do not exceed the amount prescribed. The only issue […]
TRN Impex Pvt. Ltd Vs ITO (ITAT Delhi) It is not in dispute that reopening of the assessment was made on the basis of the search conducted in the cases of Shri Deepak Agarwal and Shri Mukesh Kumar. Their statements were also recorded which were adverse in nature against the interests of the assessee. Certain […]
Nilkantha Saha Vs ITO (ITAT Kolkata) AO Cannot Simultaneously Reject and Rely Audited Books And Make Additions Under Section 68 For Cash Deposit During Demonetisation Period Out Of Cash Sales From a perusal of the cash deposits/ banking transactions, the Ld. A.R drew our attention to the fact that as per the audited books, especially […]
Vishnu Prasad Vs DCIT (ITAT Jaipur) In the case of the assessee, (i) the identity of Shri Hanuman remains undisputed, as the summons issued by the AO was duly served upon him, (ii) genuineness of the transaction is also proved (from books of accounts) beyond doubt, as amount paid as advance to him, duly appeared […]
Regular Books Of Accounts Maintained By Assessee Can Not Be Termed As Incriminating Material To Frame Assessment Under Section 153A , All Addition On Basis Of Such Material Is Therefore Invalid
