J.K. Council for Social Welfare And Information Technology Vs CIT (Exemption) (ITAT Amritsar) Brief fact of the case is that the assessee-society had submitted an application for registration u/s 12A of the Act. The primary object of the assessee is that running and maintaining institutions in rural area, and enhance the poor marginalised youth to […]
iTAT held that issuance of SCN, mentioning proposed additions under 144B(xvi), is a mandatory requirement and any assessment order passed without issuance of SCN is bad in law.
ITAT held that when assessee filed return of income well before due date, but due to inadvertence, not filed independent auditor’s report, which it has filed later on, the claim of assessee /- under section 80P(2)(d) of Income-tax Act, 1961, if otherwise admissible, cannot be denied.
Pathankot Hindu Urban Co-operative Bank Ltd Vs DCIT (ITAT Amritsar) In this case assessee claimed the loss on diminution value of securities as well as stock. The main grievance of the revenue is that this particular value was not taken in the books of accounts. But factually correct that the circular of the CBDT has […]
ITAT held that appellant having deducted the tax has obligation to file TDS statements within prescribed time limit which she failed to fulfil by filing the statement with delay. Therefore, late fee u/s 234E is justified for delayed period.
ITAT held that on account of the fault of authorised representative / chartered accountant / advocate of assessee, the assessee should not be made to suffer and more particularly, when the assessee happened to be a senior citizen and is not conversant with the digital communication.
ITAT Jaipur held that disallowance of marketing and survey expenditure merely because of non-production of the concerned party whose identity is proved is unsustainable in law.
ITAT Hyderabad held that no legal sale of gold can be made with the use of either prohibited currency or prohibited Specified Bank Notes (SBNs)
ITAT Delhi held that payment received from sale of software products/ licenses doesn’t fall in the nature of royalty as per Article 12(3) and as per section 9(1)(vi) and hence the same is not taxable in India.
ITAT Pune held that addition of notional rental not sustainable as the residential assets held in stock-in-trade.
