Dashrathbhai Shivabhai Chaudhary Vs ITO (ITAT Ahmedabad) The assessee is engaged in farming and trading of milk and seeds. As per the information made available, the assessee made cash deposit of Rs. 21,95,000/- with Saving Bank Account. Being agricultural and the agricultural income is exempt the assessee did not file any return of income under […]
It is clear on the face of the record that the officer did not consider the detailed reply submitted on behalf of the petitioner while passing the impugned orders which are sketchy and non-speaking on the face of it.
A mere discrepancy in filing the Income Tax Return instead of the Income Certificate, despite the two documents evidencing the same parameters of income requirements, cannot lead to a situation where an eligible meritorious candidate is deprived of the scholarship.
ITAT held that matter relating to wages/labour expenses which was not subject matter of limited scrutiny cannot be raised in revisionary proceedings u/s 263 for the first time.
Appellant has been able to establish that income by way of Design Charges are in the nature of business income as the same are inherently connected with the business of export of jewellery undertaken by Unit-II of the Appellant, and therefore, the same must be included in business income for the purpose of computing deduction under Section 10A of the Act.
Simply rejecting on a technical ground amounts to denial of principles of natural justice to the assessee. Therefore, we are remanding back the appeal to the file of the CIT(A) for proper adjudication on merit.
Janki Vaishali Co-operative Housing Society Limited Vs CIT (Appeals) (ITAT Mumbai) Undisputedly, assessee filed return of income on 24/12/2018 i.e. beyond the due date for filing return of income u/s. 139(1) of the Act for the Assessment Year 201819. The solitary reason for denying benefit of deduction u/s 80P of the Act is that the […]
The assessee pleaded a reasonable cause before the AO that the audit could not be carried out because of ill-health of his wife, which further worsened the family problems. Section 271B is subject to provisions of section 273B which provides that in case of a reasonable cause, penalty under the concerned section need not be imposed.
Jet Airways (India) Limited Vs DCIT (ITAT Mumbai) According to the provisions of Section 140(c) of The Income Tax Act, in case of a company which has been referred to the insolvency resolution process of the insolvency and bankruptcy code, 2013 (31 of 2016) the return be verified by the insolvency resolution professional appointed by […]
Chetankumar Raojibhai Patel Vs DCIT (ITAT Ahmedabad) Sole issue in the present appeal relates to disallowance of interest expenditure under section 36(1)(iii) of the Act. Since the assessee has demonstrated the availability of sufficient own funds for the purpose of making interest free funds, the issue, we find, is squarely covered by the decision of […]
