Moti Adhesives P. ltd. Vs ITO (ITAT Delhi) Mere non production of Director of said share holder company cannot justify adverse inference u/s 68 of the Act. Even if there was any doubt if any regarding the creditworthiness of the share applicants was still subsisting, then AO should have made enquiries from the AO of […]
Where assessee failed to deduct tax at source under section 195 from payment made to non-residents on purchases of immovable property from them and also assessee failed to obtain certificate for non-deduction of TDS, assessee was, therefore, rightly treated by AO as assessee-in-default under section 201(1).
ACIT Vs Ravnet Solutions (P.) Ltd. (ITAT Delhi) Where assessee, in receipt of share capital, had established onus cast on it to explain identity and creditworthiness of subscribers and genuineness of impugned share transactions by filing evidences such as copies of confirmations, ITRs, PANs and bank statements, etc. AO was not justified in making addition […]
Eaton Industrial Systems (P) Ltd. Vs DCIT (ITAT Pune) Where assessee-company paid sales commission foreign of agents for securing export orders from the buyers abroad the services were not rendered by such foreign agents in India, and no part of the said income had arisen in India, therefore, TDS was not required to be deductible […]
Reuters case: When a duty is cast on the payer to deduct tax at source, on failure of the payer to do so, no interest can be imposed on the payee under Section 234B of the Act
Value of perquisite provided by the assessee company to its employees in the form of reimbursement of car running and maintenance charges was chargeable to tax in their hands and the assessee was liable to deduct tax at source from the said value.
B.S.A. College Vs CIT (ITAT Agra) Under section 12AA, CIT (E) was entitled to see as to whether objects of assessee were charitable in nature, and also whether activities were genuine or not. Examination of genuineness of activities would mean to see that activities were not by way of camouflage or bogus or artificial and […]
It is simply stated in the application for condonation of delay that due to time barring assessment, the impugned order was overlooked and got barred by limitation.
Lal Nathirmal Moolchandani Vs ITO (ITAT Mumbai) We find that the assessee has received an interest on refund for assessment year 2009-10 in the present assessment year on 31.03.2011. The said cheque was encashed subsequently. Subsequently, vide assessment order passed u/s. 143(3) on 08.12.2011 for the same assessment year a total demand of Rs.24,67,560/- was […]
Moreover, the change /lack of staff with the assessee-organization is not found substantiated by any evidence on record and such a reason, in our considered opinion, does not constitute to be a reasonable cause to file the TDS statements with such an inordinate delay.
