All ITAT

Expense cannot be disallowed merely for not having direct bearing on earning

Loesche India Pvt. Ltd. Vs. Addl. CIT (ITAT Delhi)

Loesche India case: it is not necessary that all the payments/expenditure incurred by the assessee should have direct bearing on earning of income, but some payments are also made under certain business expediency...

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Bill discounting charges cannot be considered as Interest for TDS U/s. 194A

Omkara Impex & Merchandise P. Ltd. Vs. ITO (ITAT Ahemdabad)

Discounting charges are outside the purview of interest expenses, therefore, in our considered view, the question of making any disallowance on account of non-deduction of TDS on such discounting charges does not arise. ...

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Addition U/s 68 not justified for Mere Non-Production of Director of Share Holder Company

Moti Adhesives P. ltd. Vs ITO (ITAT Delhi)

Moti Adhesives P. ltd. Vs ITO (ITAT Delhi) Mere non production of Director of said share holder company cannot justify adverse inference u/s 68 of the Act. Even if there was any doubt if any regarding the creditworthiness of the share applicants was still subsisting, then AO should have made enquiries from the AO of […]...

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Addition U/s. 68 for Receipt of share capital not justified when Identity, creditworthiness & genuineness proved

Asstt. CIT Vs Ravnet Solutions (P.) Ltd. (ITAT Delhi)

ACIT Vs Ravnet Solutions (P.) Ltd. (ITAT Delhi)  Where assessee, in receipt of share capital, had established onus cast on it to explain identity and creditworthiness of subscribers and genuineness of impugned share transactions by filing evidences such as copies of confirmations, ITRs, PANs and bank statements, etc. AO was not justified...

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Disallowance U/s. 40(a)(i) on commission to foreign agents paid outside India

Eaton Industrial Systems (P) Ltd. Vs Dy. CIT (ITAT Pune)

Eaton Industrial Systems (P) Ltd. Vs DCIT (ITAT Pune) Where assessee-company paid sales commission foreign of agents for securing export orders from the buyers abroad the services were not rendered by such foreign agents in India, and no part of the said income had arisen in India, therefore, TDS was not required to be deductible [&hellip...

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Interest U/s. 234B cannot be levied on payee for failure of payer to deduct TDS

DCIT Vs Reuters Transaction Services Ltd. (ITAT Mumbai)

Reuters case: When a duty is cast on the payer to deduct tax at source, on failure of the payer to do so, no interest can be imposed on the payee under Section 234B of the Act...

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Assessee liable to deduct TDS on perquisite Value of Motor Car

TCG Lifesciences Pvt. Ltd Vs ITO (ITAT Kolkata)

Value of perquisite provided by the assessee company to its employees in the form of reimbursement of car running and maintenance charges was chargeable to tax in their hands and the assessee was liable to deduct tax at source from the said value. ...

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Registration U/s. 12AA cannot be denied for non-filing of books & vouchers

B.S.A. College Vs CIT (ITAT Agra)

B.S.A. College Vs CIT (ITAT Agra) Under section 12AA, CIT (E) was entitled to see as to whether objects of assessee were charitable in nature, and also whether activities were genuine or not. Examination of genuineness of activities would mean to see that activities were not by way of camouflage or bogus or artificial and […]...

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Delay in filing appeal with ITAT due to time barring assessment work not acceptable

ITO Vs Gisil Designs Pvt.ltd. (ITAT Delhi)

It is simply stated in the application for condonation of delay that due to time barring assessment, the impugned order was overlooked and got barred by limitation....

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Interest on Income tax refund cannot be taxed if same is withdrawn subsequently

Lal Nathirmal Moolchandani Vs ITO (ITAT Mumbai)

Lal Nathirmal Moolchandani Vs ITO (ITAT Mumbai) We find that the assessee has received an interest on refund for assessment year 2009-10 in the present assessment year on 31.03.2011. The said cheque was encashed subsequently. Subsequently, vide assessment order passed u/s. 143(3) on 08.12.2011 for the same assessment year a total demand o...

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