ITAT Chennai held that if TDS is deducted by applying wrong provisions or at lower rates, the sum paid cannot be disallowed attracting provisions of section 40(a)(ia) of the Income Tax Act.
L&T Infra Debt Fund Limited Vs CIT (Exemption) (ITAT Mumbai) In the instant case, we notice that the AO did not examine the exemption claimed u/s 10(47) of the Act, meaning thereby, the assessment order has been passed by the AO without application of mind. The exemption so allowed without examining the claim would be […]
Govind Ramprashad Baheti Vs ITO (ITAT Pune) The assessee admittedly runs Baba Ramdev Krishi Seva Kendra involving primarily rural customers engaged in agricultural activities. And that he carries out his business activities regarding sale of various agricultural products only. There is further no dispute that the recipient herein is also engaged in very line of […]
Sathyanarayanan Radhika Vs ACIT (ITAT Chennai) ITAT noted that the loan amount of Rs. 1.25 Crores was taken in previous year from Shri R. Sathyanarayanan and the balance amount of Rs. 17,00,690/- was interest on the loan amount and this cannot be treated as unexplained and moreover, there is no failure of the provisions of […]
ITAT Mumbai held that consultancy services not of technical nature cannot treated as Fees for Included Services as per sub-clause 4B of Article 12 of DTAA between India –USA and hence addition unsustainable
ITAT Mumbai held that as per the provisions of 56(2)(vii)(b) of the Income Tax Act if the date of agreement fixing the consideration and date of registration are not in same, the stamp duty value may be taken as on the date of agreement fixing the consideration, instead of that on the date of registration.
ITAT Jaipur held that additions on account of LIC Premia treated as unexplained investment deleted as merely based on rough notings without any substantive evidence.
ITAT Delhi held that in case of limited scrutiny, AO cannot exceed the jurisdiction beyond the one which he has carved out himself in the notice issued for limited scrutiny. Addition beyond his jurisdiction is unsustainable.
ITAT Ahmedabad held that assessee has produced many evidences to provide genuineness of the transactions and hence addition confirmed by CIT(A) is liable to be deleted.
ITAT Chennai held that TDS credit of the earlier financial years is available as income relating to said TDS has been offered to tax for the impugned assessment years on the basis of mercantile system of accounting.
