Dive deep into case of DCIT Vs Suman Solanki, as ITAT Jaipur discusses its authority to rectify mistakes, amendments from Finance Act, 2021, and interpretation of Section 254(2).
Read the full text of the order of ITAT Jaipur in the case of Lalit Kumar Kalwar Vs ITO. The quantum appeal is allowed, and the deduction under Section 54F is granted, resulting in the penalty being vacated.
ITAT Jaipur reinforces section 54F’s applicability, highlighting the distinction between actual sale consideration and stamp duty value for capital gains exemption, affirming the principle of real consideration over deemed value for investment in new assets.
ITAT Jodhpur upholds CIT(A)’s decision, negating the AO’s addition of Rs. 1.62 crore under Section 69C for Shri Prahalad Rai Rathi. The judgment clarifies all transactions were through banking, dismissing the alleged unexplained expenditure and unsecured loans as baseless.
Precondition of applicability of S. 14Ahas not been fulfilled in the present case in as much the law never contemplates to apply S. 14A in relation to a taxable income as in the present case
Shri Keshoraipatan Sahkari Sugar Mills Ltd. Vs PCIT (ITAT Jaipur) We find that the assessment was taken up for scrutiny under CASS to examine the deduction claimed chapter VIA for limited purpose and on this issue, there is finding of the ld. AO in the assessment order. Yet, learned PCIT has subjected the assessment order […]
Voluntary Income declared by assessee on its own i.e. without any detection cannot be considered as equivalent to providing inaccurate particulars of income or concealing particulars of Income
Jagdish Chandra Suwalka Vs JCIT (ITAT Jaipur) ITAT observed that the provisions contained u/s 275(1)(a)are not applicable on the facts of present case for the reason that undisputedly no appeal has been filed against the assessment order passed on 28.12.2017. Therefore, it cannot be said that the relevant assessment or other order was subjected to […]
Dhanraj Chhipa Vs PCIT (ITAT Jodhpur) CIT cannot invoke his powers of revision under section 263 if the Assessing Officer has conducted enquiries and applied his mind and has taken a possible view of the matter. If there was any enquiry and a possible view is taken, it would not give occasion to the Commissioner […]
Smt. Priyanka Agarwal Vs DCIT (ITAT Jaipur) Taking into facts and circumstances of the case it is an evident from the show cause notice u/s 274 read with section 271AAB of the Act that the Assessing Officer was not clear i.e whether it is for the clause (a) or clause (b) or clause (c) of […]
