Held that there was bonafide belief of the assessee that passing journal entries, even though in violation of mode prescribed u/s. 269SS and section 269T, is permissible. Entries done before judgement of Hon’ble Bombay HC in the case of Triumph International. Penalty deleted on the basis of reasonable cause.
Held that co-operative banks are liable to deduct TDS on payment of interest on time deposits only from 01.06.2015 and not before that.
Held that in the present case the approving authority has acted casually and granted the approval u/s. 153D in a mechanical manner without judicious exercise of power. According, approval granted u/s 153D was quashed and consequently the assessment order u/s 153A was also quashed.
Held that there is no material/ evidence to say that the assessee was having any business connection in India. Addition unsustainable.
Held that the act of University in granting affiliation to a private college is service in furtherance of providing education and accordingly the affiliation fees collected is exempted from service tax.
Sahyadri Vividdhodesha Areca Vs ITO (ITAT Bangalore) Held that object of section 80P(4) was to exclude cooperative banks that function at par with other commercial banks and noted that as primary agricultural credit societies are not entitled for obtaining a banking license would not be hit by this provision. Facts- Assessee is a society registered […]
Held that imposing penalty u/s. 271(1)(b) justified as necessary record impounded by the department was not supplied to the assessee, accordingly assessee failed to comply with the notice u/s. 142(1).
Respondent furnished inaccurate particulars of his income in the garb of fictitious cash sales with a view to claim Section 81-IC exemption
Held that appellant has transferred the land to the developer through JDA and the developer had power to alienate their portion of property. Accordingly, property so transferred is not subject to wealth tax.
Held that services are supplied to Foreign Telecom Operators and hence place of supply of service will be location of service receiver as per section 13(2). Provisions of section 13(3)(b) are not attracted as the services are not provided to the individual.
