ITAT Gauhati held that provisions of section 41(1) of the Income Tax Act cannot apply since the liability is still payable to sundry creditor and had not been written off in the books of account and there is no evidence to indicate that said liabilities had ceased to exist.
ITAT Ahmedabad held that disallowance of expenditure in the assessment year 2012 on the reason that company went into voluntary liquation is unsustainable as the company was not into liquidation in the impugned year.
Delhi High Court held that reassessment proceedings cannot be initiated by mere change of opinion of the Assessing Officer regarding the question of the fair market value or whether the amount paid by the assessee to his sisters was deductible from the total consideration.
ITAT Delhi held that expenses paid to legal and professionals for an opinion about legal and tax consequences of the prospective investment cannot be considered to be a capital expenditure. Such expenses are revenue in nature.
ITAT Jaipur held that since the intimation under section 143(1) of the Income Tax Act, 1961 is not reflected in the online system, there cannot remain any consequent grievances on account of the said intimation.
ITAT Delhi held that initiation of reassessment proceedings without applying his mind based only on the sole reason that as per AIR information assessee has deposited cash in his savings bank is without authority of law.
Orissa High Court held that Central Government, in exercise of the powers conferred by Sub-Section (3-A) of Section 7 of the P.G. Act, 1972, vide Notification dated 01.10.1987, notified that simple interest @10% is payable for the time gratuity is not paid within the specified period.
ITAT Bangalore held that addition merely on the basis of third-party information, without any corroborative evidence, gathered by the Investigation Wing of the Department is unsustainable in law.
ITAT Indore held that TDS on salary is deductible on the basis of net salary i.e. gross salary (-) deduction under Chapter VI-A. Therefore, demanding amount on short-deduction of TDS calculated on gross salary is unsustainable.
ITAT Jaipur held that as the assessee is not driven primarily by desire or motive to earn profits but to do charity through advancement of an object of general public utility hence proviso to Sec.2(15) of the Act is therefore not applicable and accordingly assessee is entitled to benefits of section 11 of the Income Tax Act.
