Radhika Chopra Vs ITO (ITAT Delhi) From the record it is seen that the Assessing Officer has not recorded in the assessment order that the reasons for reopening were supplied to the assessee. Since the reasons for reopening goes to the root of the case and the assessee has legal right to make objection against […]
Samarath Realities Vs DCIT (ITAT Ahmedabad) To sum up, the main arguments of the assessee are that the land cost varies from block to block and therefore the same is variable. The cost of land gets allocated through registered sale deed and the same is transferred to the land owner. The assessee of the project […]
ITAT held that that lack of cross examination and violation of principle of natural justice results is total nullity of the entire addition. P. Mittal Manufacturing Pvt. Ltd. Vs ITO (ITAT Delhi)
Mohan Exports India Pvt. Ltd Vs DCIT (ITAT Delhi) The penalty provisions of section 271(1)(c) of the Act are attracted, where the Assessee has concealed the particulars of income or furnished inaccurate particulars of such income. It is also a well-accepted proposition that the aforesaid two limbs of section 271(1)(c) of the Act carry different […]
ACIT Vs Dr. P. S. Prasad (ITAT Hyderabad) Learned CIT-DR vehemently reiterated the Revenue’s foregoing pleadings that the issuance of Section 143(2) notice is nowhere mandatory in Section 153A proceedings initiated in furtherance to a search in light of the various case law cited therein. We find no merit in the Revenue’s instant grievance since […]
Mohd Zaheeruddin Zeeshan Ayub Vs ITO (ITAT Hyderabad) Learned Counsel contended during the course of hearing that this assessee is drawing salary income on regular basis and it was only in the impugned assessment year that he had carried out corresponding transactions requiring audit report u/s.44AB of the Act. He therefore pleaded assessee’s ignorance only […]
Mahendra Kumar Agarwal Vs ACIT (ITAT Hyderabad) It is an admitted factual position that this assessee is assessed and lives in Hyderabad whereas all the corresponding loan creditors parties are from Kolkata only. And that too, there is not even a single loan agreement between the assessee and the said parties, reflecting the terms of […]
ACIT Vs S. Mohan Kumar (ITAT Chennai) Conclusion: Assessee failed to file necessary evidence to establish credits appearing in the names of above two persons in the books of account of the assessee as genuine transactions, therefore, addition of unexplained credits was rightly justified. Held: AO made additions towards credits on the ground that the […]
What cannot be done u/s. 154 of the Act on the ground of debatability ,cannot be done u/s. 143(1) of the Act to the assessee’s claim on which two views are possible A debatable issue cannot be a subject matter of adjustment u/s. 143(1) of the Act.
Shivalic Academy Society Vs CIT (E) (ITAT Delhi) Settled position of law is that for the purpose of exercising jurisdiction u./s. 263 of the Act, the conclusion that the order of the AO is erroneous and prejudicial to the interest of the revenue has to be preceded by some minimal enquiry. If the Revisional authority […]
