If the Assessing Officer passed the order without giving opportunity of being heard to the assessee, then in such situation appellate authority should set aside the impugned order and remand the matter back to the file of AO for fresh adjudication.
Nirmala Devi Vs ITO (ITAT Delhi) In the given case, the Investigation Directorate, Ahmedabad carried out survey u/s 133(A) to examine the misuse of Client Code Modification for tax evasion. The client code of the assessee was SS 493 & as per the Assessing Officer the error by the operator could be in the form […]
HPL Additive Ltd Vs DCIT (ITAT Delhi) The issue under consideration is whether the addition made by A.O. u/s 41(1) treating the outstanding as cessation of liability is justified in law? During the course of scrutiny assessment proceedings, assessee was asked to furnish complete details of sundry creditors. After perusing the details, AO noticed that […]
Haresh Khiamal Nanwani Vs ACIT (ITAT Mumbai) The issue under consideration is whether ACIT is correct in treating the sale of investments in immovable properties as a business activity rather than considering it as capital gains, in spite of the appellant holding the flats for more than 36 months. Assessee state that, he had shown […]
Bimla Devi D/o. Shri Phool Chand Vs ITO (ITAT Delhi) The issue under consideration is whether the ex-parte order passed by CIT(A) without discussing merit of the case is justified in law? ITAT studied the matter and state that it is pertinent to note that the CIT(A) has passed ex-parte order and dismissed the appeal […]
The issue under consideration is whether the officer is correct in rejecting claim for deduction u/s 10AA of the Act on the amount of transfer pricing adjustment voluntarily made by the assessee?
The issue under consideration is whether the Seizure of consignments by Assam Excise Officers in a process of transaction of export from Arunachal Pradesh and imported to Nagaland via Assam route is justified in law?
Whether increase in threshold by CG through notification for initiating CIRP is prospective or retrospective in effect?
International Flavours and Fragrances India Private Limited Vs DCIT (Madras High Court) The issue under consideration is whether the notice issued u/s 147 for re-opening the assessment is justified in law? Petitioner is engaged in manufacture of flavour essences, mixed seasoning powders (dry mix) and formulated perfumery compounds etc. The petitioner started a new manufacturing […]
ACIT Vs PNB Gilts Ltd. (ITAT Delhi) The issue under consideration is whether diminution or reduction in price of the stock-in-trade can be allowed while computing business income? In the given case, the assessee, PNB Gilts Ltd is a Non-Banking Financial Company (NBFC), filed its return of income declaring total income. The return of income […]
