Kailas Chand Agrawal Vs DCIT (ITAT Raipur) Our careful consideration of assessment records and the records of appellate proceedings it transpired that, neither of the lower tax authorities had pointed any such voucher, the genuineness of the expenditure therein claimed to have been incurred by the assessee wholly and exclusively for the purpose of its […]
NFAC has erred in not granting an opportunity to the appellant bank to present the case through the video conferencing as specified under the Faceless Appeals Scheme 2020
Penta Media Graphics Ltd Vs DCIT/ACIT (ITAT Chennai) Disallowance u/s 40(a)(i) justified if assessee failed to deduct TDS on payment for software development consultancy charges to foreign companies. Conclusion: Since assessee had not deducted TDS under section 195 on payment for software development consultancy charges was made to foreign companies and failed to file any […]
Assessee consistently deposited sale proceeds realized by way of cash, such deposit is in accordance with law, addition deleted
Form no. 10CCB clearly states that the undertaking is partly owned. Sale proceeds are also deposited equally in individual account. Deduction u/s 80IB(10) allowed
Held that the development fees received from students for acquisition of Fixed Assets and utilized for acquisition of Capital Assets, taken directly to corpus fund, is allowed as capital receipt
Even though the agricultural land was converted for non-agricultural purposes, but cultivation of land continued till the date of sale of the land. Thus, the land should have been treated as agricultural land and exempt from capital gain in view of section 2(14).
Held that as the assessee was not able to furnish any evidence to the fact that the seized cash represent accounted income and also assessee has accepted that no proper cash books was maintained. Accordingly, addition u/s 69A sustained and also penalty leviable u/s 271AAA.
ACIT Vs Anush Infrastructure (P) Ltd (ITAT Chennai) Upon careful consideration of material facts, it could be gathered that the whole basis to make additions in the hands of the assessee is sale agreement dated 24.08.2009 allegedly executed between the assessee and one Mrs. Bhavika Jain. On the basis of this agreement, it has been […]
Tulip Infratech Private Limited Vs Addl. CIT (ITAT Delhi) Ld. AO was of the view the assessee has paid EDC for the works carried out by HUDA and hence the same was liable for TDS u/s 194C Ld. AO also noticed that certain tax deductor sought clarification regarding applicability of TDS provisions on EDC charges […]
