In an appeal before Ahmedabad ITAT, DCIT vs. Parinay Organizers Pvt. Ltd., one of the grounds raised was that whether on the facts of the circumstances of the case, the CIT(A) was justified in deleting the penalty levied by the AO on account of dis allowances of interest expenses of Rs. 44,19,194/- without considering the merits of the case.
ACIT Vs. M/s. Sutures India Pvt. Ltd. (ITAT Bangalore)- ITAT Slams CIT(A) for violation of Judicial Discipline by taking contradictory view on issue already confirmed on merit by it and CIT (Appeals) have no jurisdiction to take any decision on issue which is already been decided by CIT under Section 263.
Bechtel India Pvt. Ltd. Vs ACIT (ITAT Delhi) Hedging forward contracts of foreign currency cannot be marked to market (MTM) on balance sheet date as already there is a underlying asset and there is no extra outgo for settlement of the forward contract other than already determined in the contract and thus there is no […]
Assessee was engaged in the business of plant floriculture and tissue culture, and claimed exemption of income under section 10(1) for being agricultural income, AO was not justified in disallowing exemption on the ground that basic operation were done in greenhouse since involvement of greenhouse would not change the nature of operations.
The Income Tax Appellate Tribunal [ITAT], Chandigarh bench, has held that the appellate authority cannot dismiss an appeal by pointing out the defects in its form without granting an opportunity to the assessee to cure the defects.
Out of these four appeals two appeals are filed by the assessee while the other two appeals are filed by the Revenue for against the orders of the CIT(A) – 4, Mumbai dated 13.02.2017 and 06.02.2017 for assessment years 2011-12 and 2012-13 respectively.
These two appeals of the same assessee (assessed in the name of different agents) relating to the assessment year 2007-08 are directed against separate orders of the Commissioner (Appeals), Bareilly of the even date 27-9-2016 arising out of the order passed under section 144/147 of the Income Tax Act framed by the Income Tax Officer, Ward-1(3), both dated 3-3-2015.
In the year 2011, a search conducted on the premises of the residence of the assessee resulted in recovery of certain documents on the basis of which, the department made some addition on account of undisclosed income arising out of appearance fee in ICC Awards function, unexplained expenditure etc.
Briefly the facts of the case as noted in the assessment order are that in this case assessment for A.Y. 2006-2007 has been reopened after recording satisfaction and obtaining approval of Addl. CIT, Range-25, New Delhi, under section 17 of the Wealth Tax Act.
Select Infrastructure Pvt. Ltd Vs. Addl. CIT (ITAT Delhi) Here in this case, qua the retail space, the assessee was not carrying on any systematic or organized activity of providing service to the occupiers of the shops, albeit other service charges pertaining to the common maintenance, event and advertising, parking fees, etc., has been offered […]
