ITAT Allahabad

If books of Accounts are rejected than estimation of Income is justified

Meja Filling Station Vs DCIT (ITAT Allahabad)

Once the books of account of assessee were rejected for want of supporting vouchers and details then the income of assessee was required to be estimated thus, there were no error or illegality in the impugned order of CIT(A) in estimating the income of assessee by applying N.P. at 1% which was a reasonable and justified....

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When information discovered during search capable of generating satisfaction for issuing a notice cannot become irrelevant for further action

ACIT Vs Manorama Devi  (ITAT Allahabad)

ACIT Vs Manorama Devi  (ITAT Allahabad) Conclusion: Once satisfaction note for initiation of proceedings against the assessee under section 158BD was furnished to assessee, the entire grievance of assessee were disposed off and as per AO, in any case incriminating documents and undisclosed assets belonging to assessee were found and seiz...

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Section 68 addition justified for Bogus Unexplained Creditors

Malay Prasad Vs ACIT (ITAT Allahabad)

Malay Prasad Vs ACIT (ITAT Allahabad) As could be seen from provisions of Section 68 of the 1961 Act that if any sum is found credited in the books of accounts maintained for any previous year , and the assessee offers no explanation about the nature and source thereof or the explanation offered by the […]...

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Section 271(1)(b) penalty not imposable when assessee finally complied with notice(s)

Gyan Mata Radha Satyam Kriyayog Ashram Research Institute Vs ITO (ITAT Allahabad)

Gyan Mata Radha Satyam Kriyayog Ashram Research Institute Vs ITO (ITAT Allahabad) On the one hand, the Assessing Officer has given the date of compliances in the above table whereas the penalty was imposed on the ground that the above notices were not complied by the assessee. Further, the Assessing Officer has also stated that […]...

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No deduction to Trust for Donation for activity which ultra vires to object clause of assessee

Nazareth Hospital Society Vs DCIT Exemption (ITAT Allahabad)

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 [&hell...

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No section 40A(2) disallowance for Payment Made to Sister-In-Law

Rajesh Bajaj Vs DCIT (ITAT Allahabad)

Rajesh Bajaj Vs DCIT (ITAT Allahabad) The ld. counsel for the assessee has contended that Alka Bajaj and Preeti Bajaj are sister-in-law of the assessee and therefore do not fall in the definition of relative as provided u/s 2(41). This fact is not disputed by the Revenue and therefore, the payment to these two persons […]...

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Receipts inextricably linked to project under implementation are capital receipt

Meja Urja Nigam Pvt. Ltd. Vs ITO (ITAT Allahabad)

Meja Urja Nigam Pvt. Ltd. Vs ITO (ITAT Allahabad) In this case, we have observed that there is a clear finding by ld. Assessing Officer/ld. CIT(A) that earnest money(EMD) given by contractors was forfeited by assessee on account of non completion of work and other miscellaneous recoveries were made from contractors. It is undisputed that ...

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Section 272A(2)(k) Penalty based on non–existing grounds is unsustainable

District Mining Officer Vs JCIT (TDS) (ITAT Allahabad)

District Mining Officer Vs JCIT (TDS) (ITAT Allahabad) It is noted that the Assessing Officer has initiated the penalty proceedings u/s 272A(2)(k) of the Income Tax Act for the alleged default of delivering the statement of TDS in Form 26Q within the time specified in section 200(3) read with proviso to section 206(3). In the […]...

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