Mismatch in income returned in ITR and FORM 26AS is not covered within purview of Explanation (a) to section 139(9) (Defective Return)
Object to develop training and research centre to facilitate skill development to entire chain of work force engaged at various levels in garment and textile industry entitle for registration under provisions of Section 12AA.
ITAT held that passing the assessment order against non existing entity is not sustainable in the eyes of law and the same is void ab initio.
Part B of New Appendix I is a general entry whereas Entry 5 of Part A of New Appendix I is a specific entry read with Note 7. Tribunal held that assessee is eligible to claim depreciation at 60% of Computer Software.
After considering detailed reasoning by AO as to how assessee has introduced unaccounted money in the garb of LTCG, ITAT upheld addition.
M.D. Noorudin Zariwala Vs CIT (ITAT Mumbai) Disallowance of amount paid to Mosque and debited as donation- It is evident from the letter of mosque produced by the assessee that the free lunch used to be provided by the mosque labourers/artisan etc. in that area. The facility of the assessee happened to be in vicinity […]
Education cess is an additional surcharge levied on income tax and hence it partakes the character of income tax and is not allowable as deduction.
ITAT held that interest earned on late payment from sundry debtors and VAT remission shown as miscellaneous income are eligible profit for deduction under section 80IE
DCIT Vs Flt Lt. Rajan Dhall Charitable Trust (ITAT Delhi) he issue in the present ground is with respect to the denial of claim of Rs.3.32 crores (rounded off) as application of income on account of provisions for doubtful debts. We find that CIT(A) after considering the submissions of the assessee has given a finding […]
ITAT held that mere disallowance of depreciation would not lead to imposition of penalty under Section 271(1)(c) , more particularly where quantum disallowance of depreciation itself is highly debatable
