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Ca Vijayakumar Shetty

Latest Posts by Ca Vijayakumar Shetty

Refusal to Pay Maintenance to Flat Owners Association is Unjustified: Karnataka HC

September 23, 2024 3033 Views 0 comment Print

Karnataka HC rules refusal to pay maintenance unjustified in Shangrila Flat Owners Assn Vs Capt. Mohan Prabhu. Case highlights apartment owner obligations.

No Violation in Payments to Persons u/s 13(3) if Trust Predates Act & Follows Trust Deed

September 21, 2024 219 Views 0 comment Print

Madras High Court rules on CIT Vs Indian Institute of Engineering, affirming tax exemption under Section 11 for payments made as per trust deed.

If Assessee Denies Transaction, onus shifts to AO to prove allegation with positive evidence

August 27, 2024 1014 Views 0 comment Print

ITAT Pune nullifies AO’s Rs.3.36 lakh addition for cash purchases, citing lack of evidence and failure to provide requested information.

SC decision on condonation of delay followed by Mumbai Tribunal & matters remanded

August 27, 2024 513 Views 0 comment Print

ITAT Mumbai condones delay in Jayesh Hirji Savla’s case, following Supreme Court principles on substantial justice, and remands the matter for reassessment.

Interest & Late Fee for Non-Compliance Under Various Acts, Being Compensatory, Are Allowable

August 23, 2024 3816 Views 0 comment Print

ITAT Bangalore allows Vyoma Technologies to claim GST late fees and interest as business deductions, ruling them compensatory, not penal, under Section 37(1).

Rejection of Appeal for Non-Payment of Advance Tax Without Return of Income is Invalid

August 23, 2024 270 Views 1 comment Print

ITAT Bangalore ruled CIT(A)’s rejection of Smt. Prameela Parameshwar’s appeal for non-payment of advance tax invalid, as the addition was based on incorrect information.

Disallowance of agricultural expenses on estimation is not sustainable

August 13, 2024 465 Views 0 comment Print

ITAT Bangalore held that disallowance of agricultural expenses based on estimation is unsustainable without concrete evidence, ruling in favor of A.S. Srinath (HUF).

Deemed Dividend u/s 2(22)(e) cannot be assessed by way of double deeming

August 13, 2024 441 Views 0 comment Print

ITAT Bangalore rules that deemed dividend u/s 2(22)(e) can’t be assessed by double deeming unless the assessee receives a direct benefit from the company’s payment.

Initiation of Section 271D/271E penalty must arise out of assessment proceedings

August 13, 2024 246 Views 0 comment Print

ITAT Bangalore held penalty initiation under Sections 271D/271E must be noted in assessment order; temporary family loans without interest are not penalized as deposits.

Adhoc expense disallowance without rejecting books of accounts not justified

August 13, 2024 264 Views 0 comment Print

ITAT Bangalore rules against adhoc expense disallowance without rejecting books of accounts, citing Karnataka HC’s stance in Konkan Marine Agencies case.

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