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ITAT Agra

AO cannot tax Cash deposit of less than Rs. 2.5 Lakh during demonetization by housewife

June 18, 2021 7392 Views 0 comment Print

The instructions of the Board, which are statutory and binding on the revenue, assessing officer has no mandate to tax the cash deposit made in the bank account by the housewife if the amount is less than 2.5 lakh, during the Demonetization Scheme of 2016

No TDS on commission to Agents outside India if such agent pays income after deduction of commission

June 18, 2021 1152 Views 0 comment Print

Since assessee was a recipient of income in India after deduction of commission by the buyer outside India and no income had been received or paid inside India, which attracted TDS deduction in India, therefore, assessee was not liable to deduct TDS in India.

LTCG on compulsory acquisition | Taxability Event & applicability of RFCTLARR Act 2013

June 16, 2021 11178 Views 0 comment Print

Jagdish Arora Vs ITO (ITAT Agra) Long Term Capital Gain on  compulsory acquisition –  Taxability Event –   and applicability of RFCTLARR Act 2013 –  Whether the compensation received  on account of Compulsory Acquisition by Government  is   exempt  under provision of Section 96 of RFCTLRR Act 2013 – if the  land acquired prior to applicability of […]

Assessee is entitled to beneficial legislation: Income Tax Act & DTAA

June 15, 2021 1326 Views 0 comment Print

The Hon’ble Tribunal provided relief to the assesse for AY 2014-15 by making its reliance on section 90(2) of Act and observed that the provisions of the Act or the DTAA, whichever are more beneficial to the assessee would apply making the receipt from sale of software license as not chargeable to tax in India.

No disallowance on Late deposit of ESI/PF If deposited before due date of Return U/s. 139(1)

June 14, 2021 13806 Views 2 comments Print

Mahadev Cold Storage Vs Jurisdictional Assessing Officer (ITAT Agra) No disallowance on late deposit of ESI and PF in section 143(1)(a) if deposited before due date of return u/s 139(1). Decision of Jurisdictional Honorable Allahabad High Court in the case of Sagun Foundry (P) Ltd. Vs CIT ( 97CCH 0160 and 145 DTR 0265) followed […]

Appeal before ITAT cannot continue for or against a dead person unless revised form 36 is filed

June 3, 2021 3753 Views 0 comment Print

ACIT Vs Chironji Lal Shivhare (ITAT Agra) During the course of hearing on 23/2/2021 it was informed by the Ld.AR for the assessee that the assessee has expired in the month of November 2020, therefore he will not be able to argue the matter and sought time to bring on record the Legal Heirs, death […]

Taxation of Compensation accrued before applicability of RFCTAAR Act

March 10, 2021 1668 Views 0 comment Print

Krishna Kumar Sharma Vs DCIT (ITAT Agra) It is clear that the land in question was acquired by National Highway Authority of India on 05.02.2013 under the National Highway Authority Act, 1856. When the award was passed acquiring the land, the Right to Fair Compensation and Transparency in Land Acquisition Rehabilitation and Resettlement Act, 2013 […]

Section 54 amendment restricting deduction to One Residential House is prospective

March 8, 2021 807 Views 0 comment Print

Dinesh Chandra Dutta Bhargava Vs DCIT (ITAT Agra) The only question to be adjudicated in the instant case is whether the assessee is entitled for deduction u/s. 54/54F of the Act in the attending circumstances of the case or not and whether the changed legal position of section 54, as noted by ld. CIT(A), is […]

ITAT allows Section 11 Exemption on Interest Income of Charitable Trust

January 13, 2021 7083 Views 0 comment Print

Jhansi Development Authority Commissionery Compus Vs DCIT (ITAT Agra) As the assessee had derived all its income only on account of charitable activities undertaken by it pursuant to its object and for the welfare the general public, which were not in the nature of trade , commerce or business. The income even if any earned […]

Interest Income on FDR’s Pledged to obtain Contract is Business Income

November 20, 2020 1668 Views 0 comment Print

The issue under consideration is whether the interest income on FDR’s pledged for security purposes in obtaining the contract business comes within the ambit of business income?

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