ACIT Vs M/s Sur Buildcon Pvt. Ltd. (ITAT Delhi) LANDMARK ORDER – Bhushan group companies get big relief by ITAT DELHI – First Of This Kind Where Addition under section 68 Quashed on Sole Ground of Violation of Natural Justice. – No Second Innings Given. Addition under section 68 deleted of Rs.36.50 Crore in three […]
Calcutta High Court issues interim order in Apeejay Tea Ltd. petition challenging constitutional validity of Income Tax Section 194N. Stay till September 30, 2021.
No action appears to have been taken in the preceding assessment year treating the purchase of the shares as bogus. Therefore, once such bogus purchase is sold then the entire amount, in my opinion, cannot be added u/s 68 of the IT Act, 1961.
Ess Advertising (Mauritius) S.N.C. Et Compagnie Vs ACIT (Delhi High Court) No Power to Carry Out Reassessment On Same Material And Facts Available On Record And Rubber Stamp Approval Held Invalid Following Synfonia Decision Of Own Court Thus, the moot question, which arises for consideration, is: should the respondent be permitted to assess the petitioners‟ […]
PCIT Vs Brahma Centre Development Pvt. Ltd. (Delhi High Court) Revision by CIT Held Invalid Where Interdiction of Assessment Order In Substitution of View Taken By AO Is Not Permissible Under Section 263 To answer this issue, one would have to bear in mind, the following aspects. i. Was there an enquiry carried out by […]
PCIT (Central) Vs Rashmi Rajesh Bafna (Gujarat High Court) Appeals Could Not Be Filed In High Court As Per CBDT Circular No. 23/2019 On Low Tax Effect Appeals If Review Application Before Tribunal Has Already Been Filed When Revenue Already Filed Rectification Application Before Tribunal For Review Of Order Which Has Been Dismissed Than Appeal […]
Delhi Police Welfare and Recreational Club Fund vs. CIT (ITAT Delhi) We have gone through the record in the light of the submissions made on either side. Insofar as the nature of activity of promotion of welfare and recreational activities of the police personnel, by its nature, is concerned, Ld. CIT(E) does not dispute whether […]
McKinsey Global Service India Private Limited Vs ACIT (Madras High Court) 6. The contention of the petitioner is that the principles laid down by the Hon’ble Supreme Court of India, re-opening of assessment proceedings in the case of GKN Driveshafts India Ltd., Vs. ITO reported in (2003) 259 ITR 19 (SC) has not been complied […]
S. Ravinder Vs CIT (Telangana High Court) It is also to be noted that Section 251(1)(a) of the Act stipulates that an appeal filed before the appellate authority to be considered as disposed, would require such order under challenge to be either confirmed, reduced, enhanced or annulled. It goes without saying that the disposal is […]
Mahadev Cold Storage Vs Jurisdictional Assessing Officer (ITAT Agra) No disallowance on late deposit of ESI and PF in section 143(1)(a) if deposited before due date of return u/s 139(1). Decision of Jurisdictional Honorable Allahabad High Court in the case of Sagun Foundry (P) Ltd. Vs CIT ( 97CCH 0160 and 145 DTR 0265) followed […]
