In a significant decision, ITAT Jaipur, in Suman Solanki vs DCIT case, rules that timely deposited PF/ESI contributions before return filing are admissible deductions. Explore the detailed analysis.
Jeen Mata Buildcon Pvt. Ltd. Vs ITO (ITAT Jaipur) The ld. AR of the assessee argued that merely there is a difference in the 26AS and the books results, there cannot be an addition to returned income the books of account of the assessee duly audited. AO has not found any single defect in the […]
DCIT Vs JLC Electromet Pvt. Ltd. (ITAT Jaipur) In the present case, undisputed facts are that the commission has been paid to various nonresident entities in respect of sales affected by the assessee outside of India, the services have been rendered outside of India and the payments have been made outside of India. In light […]
The assessee filed its return of income on 15.10.2019 which was processed u/s 143(1) of the Act whereby an adjustment was made on account of disallowance of claim of deduction with respect to employees’ contribution towards PF and ESIC deposited belatedly.
The pertinent assertion of learned counsel Shri Gargieya is that the assessing authority could not have adopted the procedure provided under Section 148 of the Income Tax Act for reopening the assessment of the petitioner because such action was taken on the basis of facts revealed to the assessing authority during the assessment of DRA Group at Ahmedabad and the proceedings, if any, would have to be conducted under Section 153A read with Section 153C of the Income Tax Act.
Anil Tambi challenges income tax assessment in Rajasthan HC, citing lack of effective hearing. Stay granted on the impugned order. Case ongoing.
It not the entire sales consideration which is to be brought to tax but only the profit attributable on the total unrecorded sales consideration which alone can be subject to income tax
I.T.O. Vs Bhagchand Jain (ITAT Jaipur) Disallowance of depreciation on vehicles is also not warranted with the facts and merits of the case as depreciation being a statutory allowance and hence cannot be restricted on the basis of personal use as has been held by Coordinate Bench of this Tribunal in ITA no. 373/JP/2002 in […]
Sunil Mathur Vs ITO (ITAT Jaipur) The issue under consideration relates to source of cash deposits during the year in the two bank accounts maintained by the assessee amounting to Rs 13.5 lacs. In this regard, firstly, it is noted that during the year under consideration, the assessee has sold a property and consideration thereof […]
PCIT Vs Mahla Real Estate Pvt. Ltd. (Rajasthan High Court) We do not find that the Tribunal has committed any error in setting aside the assessment. The counsel for the revenue however has strenuously argued that in view of Section 292BB inserted in the Income Tax Act, mere defect in service of notice had to […]
