ACIT Vs M/s. Sattva Developers Pvt. Ltd. (ITAT Kolkata) From the entry made on 06-09-2011, it would be found that the Authorised Representative filed all the details excepting the explanation regarding treatment of compensation, and for this purpose the hearing was adjourned to 13-09-2011. The next entry on 19-09-2011 inter alia reads that the Authorised […]
Botil Oil Tools (I) Pvt. Ltd. Vs PCIT (ITAT Delhi) Facts of the case, in brief, are that the assessee is a company engaged in the business of manufacturing Oil Field Drilling and Production Equipment, which are used for drilling the Wells to pull out the oil from the wells. It filed its return of […]
DCIT Vs Dee Development Engineers Ltd. (ITAT Delhi) The assessee company has not deposited the employees’ contribution within the due date which is prescribed under the said statute i.e. Provident Fund and ESIC. This issue is dealt by the Hon’ble Delhi High Court in case of CIT vs. M/s Bharat Hotels Ltd. 410 ITR 417 […]
Venugopal Naidu Pushparaj Vs ITO (ITAT Bangalore) Conclusion: Once assessee adopted the cost of these 7 flats received under JDA for the purpose of offering the capital gain, same to be considered as cost of construction from the sale consideration of flats received from the developer under the agreement. Held: AO initiated re-assessment proceedings on the […]
Shri Kamal Kishore Soni Vs ITO (ITAT Hyderabad) Assessee has made the investment in the shares of Rockon Fintech in the year 2008-09 whereas the report of the investigation wing is dated 16.3.2018. Therefore, the argument of the assessee’s counsel that the assessee could not have known that Rockon Fintech is a penny stock company […]
Goodwill Management Pvt. Ltd. Vs DCIT (ITAT Bangalore) The assessee, out of ignorance or inadvertence has omitted to mention the details of exempt income in the relevant ‘Schedule EI’. So, the ignorance of the assessee or inadvertent mistake committed by the assessee should not come in his way in claiming exemption, which is otherwise allowable […]
Dipal Suresh bhai Patel Vs ITO (ITAT Ahmedabad) The case of the Revenue is this that the unutilized amount of sale consideration since not deposited in the capital gain account within the time limit prescribed under Section 139 of the Act, benefit of claim of capital gain under Section 54F cannot be extended to the […]
Once the substantive assessment in the case of Mr. Siya Ram Gupta was confirmed , the protective assessment had no independent standing but dependent on the final outcome of the substantive assessment. CIT(A) was right for deleting the addition on protective basis on the ground that AO had already taxed the same in the hands of Mr. Siya Ram Gupta on substantive basis.
Hero Motocorp Ltd Vs ACIT (ITAT Delhi) FULL TEXT OF THE ORDER OF ITAT DELHI Regarding Ground No. 16 relating to disallowance of reimbursement of foreign travelling expenses to directors/employees amounting to 7.38 crores, the Ld. AR submitted that the disallowance was made on the ground of non-submission of evidence/proof of actual expenses incurred by employees. […]
Elite Realtech Pvt. Ltd. Vs ACIT (ITAT Delhi) As regards penalty order, firstly, the correct limb was not struck off or rather indicated by the Assessing Officer in the notice under Section 274 r.w.s. 271(1)(c) of the Act and hence the decision of the Jurisdictional High Court in case of M/s Sahara India Life Insurance […]
