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Demonetisation Cash Deposits: Assessee Bears Burden to Prove Genuineness

April 4, 2024 966 Views 0 comment Print

Read the full text of the ITAT Bangalore order on Aijaz Ahmed Suri Vs ITO regarding demonetization deposits. Analysis and conclusion included.

Section 68 addition invalid if creditworthiness proven: ITAT Delhi

April 4, 2024 786 Views 0 comment Print

In the ITAT Delhi case I.T.O Vs Placid Buildwell Pvt Ltd, the addition u/s 68 was deemed invalid as creditworthiness was proven. Detailed analysis here.

Developer engaged in “development” of new infrastructural facility eligible for Section 80 IA(4) deduction

April 4, 2024 282 Views 0 comment Print

Understand Section 80-IA(4) deductions: N.C.C. – M.S.K.E.L (J.V.) Vs Income Tax Officer (ITAT Ahmedabad) clarifies eligibility for developers.

Cash Deposits During Demonetization: ITAT Delhi deletes Addition

April 4, 2024 7890 Views 1 comment Print

Explore the ITAT Delhi’s ruling on cash deposits during demonetization in the case of Shivam Industries Radheshyam Sharma & Co. Vs ACIT for AY 2017-18.

TDS credit on Salary cannot be granted if Assessee fails to furnish salary slip or Form No.16

April 4, 2024 660 Views 0 comment Print

In Ajit Chandrashekar Dighe Vs DCIT (ITAT Mumbai), learn about the importance of substantiating Form 26AS or Form 16 for claiming TDS credit. Detailed analysis provided.

PCIT Cannot invoke Section 263 jurisdiction Solely Based on Disagreement with AO’s Plausible View

April 4, 2024 279 Views 0 comment Print

Analysis of Satbir Mahato Vs PCIT case by Kolkata ITAT, highlighting the dispute over Section 263 jurisdiction due to plausible views of AO.

CIT(A) Cannot disbelieve Cash Book Solely Based on General Practice

April 4, 2024 423 Views 0 comment Print

Mool Chand Aggarwal Vs ACIT (ITAT Delhi) CIT(A) cannot disbelieve cash book only on the ground that ‘generally individuals do not maintain cash book and it is not mandatory to maintain cash book for the individual’.

ITAT directs Readjudication of Section 35AD deduction

April 4, 2024 189 Views 0 comment Print

Explore ITAT Indore’s order in ACIT Vs MP Warehousing case, challenging deduction under section 35AD for specified and non-specified business income.

Share capital/premium cannot be added to income for mere non-compliance of summons by subscribers

April 4, 2024 474 Views 0 comment Print

In the Nano Infra Promoters Pvt Ltd vs ITO case at ITAT Kolkata, learn why receipts couldn’t be added to income under section 68 just for summons non-compliance.

Delay in appeal cannot be condoned for Vague & unsatisfactory reasons

April 4, 2024 363 Views 0 comment Print

Indore ITAT dismisses Abhishek Singh’s appeal against PCIT for filing belatedly, citing insufficient cause for the 6-year delay.

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