ITAT Chandigarh held that late deposit of employees’ share of PF/ ESI contribution to the relevant funds beyond prescribed due date as per respective Act is liable to be disallowed.
ITAT Surat held that gift received from HUF cannot be added back to the total income of the assessee being Karta (Manager) of such HUF.
ITAT Delhi held that business promotion expenditure incurred for improving the visibility of the brand and sale of the products is routine expenses incurred during the course of the business. Accordingly, the same is allowable expenditure.
ITAT Delhi held that the assessee (M/s. Cane Development Council Titawi) being a local authority are not chargeable to tax in terms of section 10(20) of the Income Tax Act.
ITAT Delhi held that the assessment order passed against a non-existing company is void ab initio and hence liable to be quashed.
ITAT Delhi held that addition sustained as onus to prove genuineness of the transaction is not proved by the assessee.
ITAT Delhi held that to burden assessee with capital gain arising out of transfer of immovable property or an interest in it, the cost of acquisition is necessarily to be established. Here, cost of acquisition of so called right of preemption is considered as NIL. Hence, computation provisions fail, therefore capital gains could not have been calculated.
ITAT Chennai held that trade payable appearing in the books of accounts duly explained. Accordingly, addition towards the same u/s 68 of the Income Tax Act is unjustified and liable to be deleted.
ITAT Raipur held that addition towards unexplained cash credits u/s 68 of the Income Tax Act sustained as assessee failed to prove the identity and creditworthiness of lenders of unsecured loans.
ITAT Kolkata held that reassessment proceeding initiated in the name of nonexistent amalgamated company is without jurisdiction, void ab initio and is liable to be annulled.
