Explore the case law of ITO vs. Shri R.K. Gupta (ITAT Delhi) regarding filing returns in response to notice under section 148. Understand the importance of proper compliance with the notice for reassessment.
ITAT Delhi held that no part of the RPC fee is liable to be disallowed in terms of clause (i) of s. 40(a) because the second proviso clause (i) of Section 40(a) being curative and declaratory in nature has to be given retrospective effect.
ITAT Pune held that addition on account of cash deposits unsustainable as reasonable and plausible explanation given by the assessee.
ITAT Delhi held that addition of rental income as undisclosed merely because tenant as wrongly deducted TDS u/s. 194J is unsustainable as landlord cannot be blamed for wrong deduction of TDS.
ITAT Mumbai held that plausible view of AO cannot be held as erroneous by ld. CIT(E) without conducting necessary enquiries or verification. Accordingly, initiated of revision jurisdiction u/s 263 on mere conjectures, suspicions and surmises, which is not permitted.
ITAT Bangalore held that provisions of section 269SS of the Income Tax Act cannot be applied when explanation given by the assesse constitutes a reasonable cause. Accordingly, concluded that bonafide business transaction cannot be considered for levying the penalty u/s 271D of the Act.
ITAT Mumbai held that expenditure incurred towards Corporate Social Responsibility are specifically disallowed as per explanation 2 to Section 37(1) of the Income Tax Act.
Value of goodwill is amount paid over & above tangible assets and values assigned to other intangible assets – Depreciation allowed
Pankajkumar Babulal Tiwari Vs ACIT (ITAT Amhadabad) Asessee under the bona fide belief not offered income on receipt from LIC in original return however rectified the same while filing the return under section 148 of the Act. The assessee also paid due tax on such receipt even before issuance of notice under section 148 of […]
ITO Vs Sk. Sahanewaj Ali (ITAT Kolkata) CBDT had modified Circular No. 3 of 2018 dt. 11/07/2018. Further, the CBDT in its circular F. No. 279/Misc./M-93/2018-ITJ, dt. 20/08/2019, has clarified that the revised monetary limits, so mentioned in Circular No. 17/2019 is applicable to all pending appeals. As per these circulars all the revenue appeals […]
