Further it is the claim of the assessee that subsequent to the sale of flat on which depreciation was claimed assessee has purchased a flat the income from which has been offered under the income from house property and that the new flat enters into the block of asset irrespective of the use. When the income from the new flat is being offered as income from house property by no stretch of imagination it can be said that it falls into the block of depreciable assets.
Pioneer Distilleries Limited Vs Pr. CIT (ITAT Pune) In the present set of facts where the Commissioner himself has given a finding that the re-assessment proceedings have not been correctly carried out against the assessee and the Assessing Officer has failed to fulfill his obligation, then under such circumstances where, he has also held that […]
Vijaya Durga Devi Trust Vs DCIT (ITAT Pune) It is an undisputed fact that the trust has been created in the year 1968 and as per the trust deed, the entire income is to be used for the upkeep of Deity. It is also an undisputed fact that the Deity is the sole beneficiary of […]
Ms Bhangal Construction Co. Vs ITO (ITAT Jalandhar) Simpliciter payment towards hiring charges of cranes cannot be brought within the sweep of the definition of the term work as envisaged in Sec. 194C of the IT Act. We thus are of the considered view that the lower authorities had erred in concluding that as the […]
B. Kannabiran Vs ACIT (ITAT Chennai) Tahsildar, being the head of the revenue unit of the Taluk, issued certificate saying that the land in question is beyond 9 KMs radius from Tambaram municipality. This certificate issued by the Tahsildar was rejected by the CIT(Appeals) on the basis of bus route. The details with regard to […]
Shri Basant Kumar Nahata Vs ACIT (ITAT Kolkata) It is noted that a house property was inherited by the assessee in his native village situated at Rajasthan which was duly shown in his Balance Sheet. Since the assessee has residential house at Kolkata, the AO invoked sec. 22 and 23 of the Act, estimated the […]
Assessment made by AO under section 153A was was barred by limitation as though assessment order was dated 28-3-2013, however, it was served on assessee on 18-4-2013, i.e., after expiry of period on which assessment order was liable to be time-barred as per section 153, i.e., 31-3-2013.
When assessee received advances from customers and the same were subsequently adjusted against goods sold to them, then, the advances could not be treated as unexplained cash credit under section 68, therefore, addition under section 68 made by AO on account of unexplained cash advances was deleted.
Smt. Archana Kanwar Vs ITO (ITAT Chennai) We have heard both the sides, perused the materials available on record and gone through the orders of authorities below. During the previous year relevant to the assessment year 2012-13, the assessee sold a vacant plot at Gurgaon, Haryana for a consideration of ₹.75,00,000/- after reducing the index […]
Assessee was not entitled to claim gifts and presents given to the customers by way of cash as business expenditure as the same was against the provisions contained u/s 40A(3)
