We are of the view that the AO has re-opened the assessment on mere change of opinion, because it is the assessing officer who took a different view at the time of reopening of assessment, i.e., he has entertained an opinion that the family members should have transferred the gold to the assessee firm and then the assessee firm should have held the gold on its own account.
Nazareth Hospital Society Vs DCIT Exemption (ITAT Allahabad) In the instant case before us, we have observed that the objects of the donor viz. assessee only permitted to engage in activities to establish and run hospitals, nursing homes, welfare homes, rest houses for the good and benefit of the people, and other objects which are […]
TRN Impex Pvt. Ltd Vs ITO (ITAT Delhi) It is not in dispute that reopening of the assessment was made on the basis of the search conducted in the cases of Shri Deepak Agarwal and Shri Mukesh Kumar. Their statements were also recorded which were adverse in nature against the interests of the assessee. Certain […]
Smt. Harmohinder Kaur Vs. DCIT (ITAT Amritsar) The Apex Court in the cases of Central Bureau of Investigation vs. V.C. Shukla (supra) and Common Cause (A registered Society and Ors Vs. Union of India & Ors.(supra) analyzed the position of law with regard to the loose sheets/diary in which some noting has been made by […]
Dabur Invest Corp Vs JCIT (ITAT Delhi) Only issue before the Coordinate bench in that case was in which year the income accrues. It was not the issue before the coordinate bench that whether the money received by the assessee as an option price is a revenue receipt or a capital receipt. In the facts […]
Suraj Stones Corporation Ltd. Vs ITO (ITAT Bangalore) Without issuing summons under section 131 of the Act to a party who filed confirmation, no adverse inference can be drawn by the AO. It is clear from the orders of the revenue authorities that they not made any reference to the documentary evidence filed by the […]
Kunwar Tuli Vs ITO (Delhi High Court) We find that the Assessing Officer has disallowed the part of the commission expenses paid on the ground that the assessee failed to produce the requisite evidences, including contract agreement between the parties and the assessee sought to justify the commission expenses only in view of the tax […]
Nilkantha Saha Vs ITO (ITAT Kolkata) AO Cannot Simultaneously Reject and Rely Audited Books And Make Additions Under Section 68 For Cash Deposit During Demonetisation Period Out Of Cash Sales From a perusal of the cash deposits/ banking transactions, the Ld. A.R drew our attention to the fact that as per the audited books, especially […]
Daawat Foods Ltd. Vs ACIT (ITAT Delhi) As far as the disallowance of the depreciation of Rs.93,406/-on the capital expenditure is concerned, we find that AO has disallowed the depreciation on the capital expenditure of Rs.5,35,468/- which has been stated to have been incurred by the assessee in cash. We find that the Co-ordinate Bench […]
Abid Ali Vs ACIT (ITAT Delhi) FULL TEXT OF THE ORDER OF ITAT DELHI The present appeal has been filed by the assessee against the order of the ld. CIT(A), Aligarh dated 06.11.2017. 2. At the outset, it was brought to the notice of bench by the ld. AR that the assessee has filed application under […]
