DCIT Vs Late Ajit Kumar Vaddevalli (ITAT Hyderabad) We find substance in the submissions of the ld. AR that the AO has passed the order in the name of late Ajit Kumar, nonexistent person, the information of which has been intimated to AO by the wife of assessee, who is the legal heir, during assessment […]
Abhinav International Pvt. Ltd. Vs DCIT (ITAT Delhi) In the present case, the assessee is saying that value of the shares owned by the assessee company of the listed companies which are recorded at the book value (cost price) is far less than the listed price (traded price) of those shares, therefore, same should be […]
Late Shri Bhushan Lal Sawhney Vs DCIT (ITAT Delhi) Facts: 1. The IT Investigation wing had information that assessee maintained Swiss Accounts but this was vehemently denied by the assessee. 2. Swiss competent authorities provided information only from April 1, 2011. Earlier years (to which this litigation pertained) were not covered by the Exchange of […]
Naveen Infradevelopers & Engineers Pvt. Ltd Vs DCIT (ITAT Delhi) With the approval of the Competent Authority, the following officers shall hold the charge along with zonal charges mentioned against their name with immediate effect, until further orders: Reopening of assessment u/s 147 – Addition u/s 68 – optionally convertible debentures issued to the Infotel technologies […]
Uttarakhand Purv Sainik Kalyan Nigam Ltd. Vs ITO (ITAT Dehradun) Reassessment on the basis of change of opinion, bad-in-law, more-so, when the case was re-opened after the expiry of four year and there was no non-disclosure which could be attributable to the assessee A) Re-opening of assessment on the same issue which was dealt during […]
ACIT Vs Ajay Jagdishnarain Agarwal (ITAT Mumbai) fter going through the order passed by the CIT(A), we noticed that the property was purchased by Jagdish Narian Agarwal in the year 1974 after paying the full consideration. The original owners/vendors confirmed the transaction and the parties had given requisite confirmation before the district collector. They transferred […]
Azamgarh Steel & Power Pvt. Ltd. Vs CPC (ITAT Delhi) 1. ITAT Delhi deletes addition made u/s 36(1)(va) read with section 2(24)(x) of the Income Tax Act, 1961 in respect of contributions received from employees on account of ESI / EPF deposited beyond time specified in respective law but before the due date u/s 139(1). […]
Smt. Rontala Tirumala Vs ACIT (ITAT Hyderabad) ITAT finds that the statement of the M.D Shri Rontala Raji Reddy was recorded on 17.10.2014 i.e. a day after the survey on 16.10.2014 and the diaries impounded during the course of survey allegedly corroborated the statement. It is a settled position that no addition can be made […]
ITO Vs Ayesha Abid Ali (ITAT Hyderabad) We find that the Assessing Officer has made the addition in the hands of the assessee of interest income from an A/c with HSBC held by the assessee jointly with her husband which was opened by his employer to deposit his salary income. Therefore, it is not an […]
ACIT Vs V.V. Rajam (ITAT Hyderabad) On perusal of the statement, AO has observed that the assessee has purchased a land of 2 acres in survey No. 356/3E1/1 situated at Pragnyapur village, Gajwel Mandal, Medak District in his name for a consideration of Rs. 1.2 crore as well as purchased a house in Hyderabad in […]