Vodafone India Ltd. Vs ACIT (ITAT Ahmedabad) Where assesse engaged in business of providing mobile telephone services, sold prepaid vouchers to its distributors at a rate lower than its face value, difference between face value and selling price of prepaid voucher could not be regarded as commission requiring deduction of tax at source under section […]
Smt. Yannaben Anilbhai Jethani Vs ITO (ITAT Rajkot) We find that the issue for our consideration is, whether penalty initiated and levied under section 18(1)(c) of the Wealth Tax Act, without clearly specifying particular default relates concealment of wealth and/or furnishing of inaccurate particulars is valid in law ? The contention of the assessee that […]
ACIT Vs Chironji Lal Shivhare (ITAT Agra) During the course of hearing on 23/2/2021 it was informed by the Ld.AR for the assessee that the assessee has expired in the month of November 2020, therefore he will not be able to argue the matter and sought time to bring on record the Legal Heirs, death […]
M/s. Chandri Papers and Allied Products Pvt. Ltd. Vs ACIT (ITAT Mumbai) We find that assessee had taken property on lease for the purpose of its business. The said property is situated at Lonavala. The said property belongs to the wife of director of the assessee company. The property has been taken on lease based […]
DCIT Vs Late Ajit Kumar Vaddevalli (ITAT Hyderabad) We find substance in the submissions of the ld. AR that the AO has passed the order in the name of late Ajit Kumar, nonexistent person, the information of which has been intimated to AO by the wife of assessee, who is the legal heir, during assessment […]
Abhinav International Pvt. Ltd. Vs DCIT (ITAT Delhi) In the present case, the assessee is saying that value of the shares owned by the assessee company of the listed companies which are recorded at the book value (cost price) is far less than the listed price (traded price) of those shares, therefore, same should be […]
Late Shri Bhushan Lal Sawhney Vs DCIT (ITAT Delhi) Facts: 1. The IT Investigation wing had information that assessee maintained Swiss Accounts but this was vehemently denied by the assessee. 2. Swiss competent authorities provided information only from April 1, 2011. Earlier years (to which this litigation pertained) were not covered by the Exchange of […]
Naveen Infradevelopers & Engineers Pvt. Ltd Vs DCIT (ITAT Delhi) With the approval of the Competent Authority, the following officers shall hold the charge along with zonal charges mentioned against their name with immediate effect, until further orders: Reopening of assessment u/s 147 – Addition u/s 68 – optionally convertible debentures issued to the Infotel technologies […]
Uttarakhand Purv Sainik Kalyan Nigam Ltd. Vs ITO (ITAT Dehradun) Reassessment on the basis of change of opinion, bad-in-law, more-so, when the case was re-opened after the expiry of four year and there was no non-disclosure which could be attributable to the assessee A) Re-opening of assessment on the same issue which was dealt during […]
ACIT Vs Ajay Jagdishnarain Agarwal (ITAT Mumbai) fter going through the order passed by the CIT(A), we noticed that the property was purchased by Jagdish Narian Agarwal in the year 1974 after paying the full consideration. The original owners/vendors confirmed the transaction and the parties had given requisite confirmation before the district collector. They transferred […]
