Srabani Construction (P) Ltd Vs DCIT (ITAT Cuttack) In respect of addition of Rs.51,84,803/- made by the AO u/s.68 of the Act with regard to sundry creditors, on observing the financial statement it is found that the assessee could not produce the creditors as well as could not satisfy the three ingredients i.e. identity, creditworthiness […]
Bank of India Vs ACIT (ITAT Mumbai) To sum up, the assessee is declined the foreign tax credits for Rs 182,64,22,948, and, accordingly, we hold that the assessee is not entitled to seek a refund of that money from the Indian tax exchequer. As we hold so, we may add that in the present case, […]
ACIT Vs Mittal Roadways Pvt. Ltd. (ITAT Jabalpur) From the above correspondence between the A.O. on one hand and the JCIT on the other hand and the letter addressed by the JCIT to the Commissioner clearly shows that it was at the stage of discussion and the JCIT could not able to make his mind. […]
M.L. Singhi & Associates (P) Ltd. Vs DCIT (ITAT Delhi) No addition could be made against the assessee if no incriminating material was found during the course of search It is not in dispute that whatever queries were raised by the A.O. time to time, have been replied by assessee along with documentary evidences. All […]
Saket M. Jain (HUF) Vs PCIT (ITAT Ahmedabad) In the assessment framed in the case of M/s Greenwell Orchard under section 143(3) read with section 147 of the Act has been set aside by the learned Pr. CIT under section 263 on the reasoning that the entire amount of sale proceeds is unaccounted income of […]
Paresh V. Shah Vs DCIT (ITAT Mumbai) I find that by way of this miscellaneous application it is the contention of the learned counsel of the assessee that the ITAT has felt into apparent error while upholding the disallowance of commission payment by not taking into account the document which were submitted. It is the […]
Shri Praveen Garg Vs ITO (ITAT Delhi) There is no dispute with regard to the legal proposition that the First Appellate Authority cannot consider new source of income. However, in the present case the A.O. reopened the assessment because it was found that there were cash deposits in several Bank accounts of the assessee which […]
Travancore Textiles P. Ltd. Vs ITO (ITAT Chennai) The Assessing Officer has assessed interest income under the head income from other sources and further disallowed total expenditure incurred at Head Office on the ground that said expenditure is relatable to agricultural operations of the assesse. We find that the Assessing Officer is following different method […]
ACIT Vs M/s. Mackintosh Burn Ltd (ITAT Kolkata) The issue is whether the addition in question can be made u/s 41(1). The ld. CIT(A) has already concluded that no additions can be made u/s 41(1) of the Act. He agreed that the propositions of law cited by the assessee are in its favour and hence addition […]
Neither the conduct of the assessee, nor the approach of the assessee is appropriate. It is only when administrative remedies are exhausted that the assessee should approach a judicial or quasi-judicial forum. In any case, the conduct of the assessee, in not taking reasonable steps to ensure expeditious disposal of these appeals, does not impress us.
