Assessing donation write-off & fixed asset depreciation as income application. AO directed for verification. ITAT Mumbai
ACIT Vs M/s. R J Corp. Ltd. (ITAT Delhi) The A. O. has made a observation that the short term capital loss has been incurred on share of group companies and such shares have also been sold to group companies in such a manner that the entire shareholding of the investee company remains with the […]
M/s. MAJ Hospital Edappally Vs DCIT (ITAT Cochin) Assessee is entitled to the exemption u/s 11 of the income derived from an activity incidental to the achievement of the objects of the trust. For these reasons, we hold that the assessee’s activities of running the hospital and the nursing school are intricately connected and dependent […]
Rastriya Saksharta Mission Innovative Technologies Education, Khesra Vs. CIT (ITAT Delhi) Section 12AA of the I.T. Act provides that ‘Pr.CIT or CIT on receipt of an application for registration of a trust or institution under section 12A, shall after satisfying himself about the objects of the trust or institution and the genuineness of its activities, […]
M/s. Haryana Distillery Limited Vs JCIT (ITAT Delhi) Section 272A(2)(k) of the I.T. Act provides penalty for failure to deliver or cause to deliver a copy of the statement within the time specified in sub-section (3) of Section 200 or the proviso to sub-section 3 of Section 206(c) of the I.T. Act. Section 273B of […]
Rajesh Kumar vs. ACIT (ITAT Agra) Section 17(1) defines ‘salary’ and ‘perquisite’ separately for the purposes of sections 15 and 16. Section 15 is the charging section qua income from salary, whereas section 16 deals with deduction there-from. Section 17(1)(iv) says that ‘salary’ includes, inter alia, perquisites. Relief u/s 89 is available in respect of […]
Impugned assessments are non-est in the eyes of law since the DCIT/ACIT, Circle-, Chennai issuing the section 143(2) notice(s) did not have jurisdiction and the assessing authority in Kolkata did not issue such scrutiny notices.
Where rental income was received by assessee as owner of flat same was to be assessed under head income from house property and not as business income, as flat was not stock-in-trade in assessee-builder’s case.
Where there was any shortfall due to difference of opinion or taxability of any items or the nature of payment falling under various TDS provisions, assessee could be declared to be assessee-in-default under section 201, but no disallowance could be made under section 40(a)(ia) and therefore, disallowance made was to be deleted.
Civil Services Institute Vs DCIT (ITAT Delhi) It is observed from communication between assessee and Government of Uttarakhand Department of Culture, Tourism and Games, Dehradun, dated 01/12/14, that funds were released, as ‘corpus fund’ for operation of Civil Services Institute construction at Dehradun. It is also observed that only reason for disallowance of claim of […]
