ITO Vs Indica Industries Pvt. Ltd. (ITAT Delhi) Unless and until the position in initial year is disturbed, it is not possible to take a different view for the subsequent assessment years . It can be seen from the impugned order that ld. CIT(A) noted that assessment year 2014-15 is not the initial year to […]
DCIT Vs Paveljeet Singh Ruppal (ITAT Delhi) The Assessing Officer has to demonstrate from the records that there has been a failure on the part of the assessee to disclose fully and truly all material facts necessary for assessment. Here in this case, the assessee has duly disclosed the factum of total secured loan, total […]
ACIT Vs Sahyog Infrastructure Pvt. Ltd (ITAT Delhi) Based on the above reasons recorded, notice under Section 148 of the act was issued to the assessee on 25th of June, 2013. From the above reasons recorded it is evident that all these documents were available with the ld. Assessing Officer at the time of making […]
CIT (Exemptions) Vs Batanagar Education And Research Trust (Supreme Court of India) Supreme Court Orders Cancellation of Registration in Case of Misuse of Status Conferred under Section 12AA and 80G In this case donations were received by way of cheques out of which substantial money was ploughed back or returned to the donors in cash. […]
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 […]
