ITAT Amritsar

Proper Notice U/s. 148 is must for initiating reassessment proceeding

Sh. Shridhar Bedi through Legal Heir Vs ITO (ITAT Amritsar)

Sh. Shridhar Bedi through Legal Heir Vs ITO (ITAT Amritsar) Proper notice u/s 148 of the Act for initiating reassessment proceeding is not a mere procedural requirement but the service of the prescribed notice on the assessee is a condition precedent to the validity of any of the reassessment made u/s 147. It is settled […]...

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Section 69B cannot be invoked on mere assumption that there was understatement of investment

Dy. CIT Vs Riar Builders (P) Ltd. (ITAT Amritsar)

Section 69B cannot be invoked on the assumption that there was understatement of the investment, without a finding that the assessee invested more than what was recorded in the books of account....

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Disallowance u/s 14A is to be made despite no tax-free income on investment

Lally Motors India (P.) Ltd. Vs The Pr. CIT (ITAT Amritsar)

Disallowance u/s 14A & Rule 8D has to be made even if the assessee has not earned any tax-free income on the investment. . It was immaterial if dividend income was actually earned or not, which, rather, may be a consideration where the shares, as in the present case, are held to retain control over the investee company, i.e., for strategi...

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CIT(A) cannot cancel order U/s. 127 transferring jurisdiction from one AO to another

The DCIT Vs Shri Subhash Gandhi (ITAT Amritsar)

DCIT  Vs Shri Subhash Gandhi (ITAT Amritsar) An order passed u/s 127 of the Act is not appealable before the Ld. CIT(A). Since the first appellate authority has no jurisdiction to decide the validity or otherwise of an order passed u/s 127, transferring the jurisdiction from one Assessing Officer (AO) to another, it is, but, […]...

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Rejection of application for Registration U/s. 12AA for No beneficiary clause in trust deed

Krishan Kanya Mahavidyalya Vs. CIT(Exemption) (ITAT Amritsar)

Where application for registration certificate was rejected solely on the ground that trust deed did not contain the beneficiary clause; opportunity was given to assessee to make fresh application after incorporating the said clause in the trust deed....

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Compensation paid for loss to clients due to negligence of employees of assessee is allowable expense

Ashwani Financial Services (P.) Ltd. Vs. JCIT (ITAT Amritsar)

Circular No. 35 issued by Board clearly states the losses arising due to negligence of employees has to be allowed as expense if the loss took place in the normal course of the business and the amount involved was necessarily kept for the purpose of business. In the present case, the losses were necessarily incurred in the normal course o...

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Interest u/s 234A/ 234B cannot be levied in absence of any mention in Assessment Order

Income Tax Officer Vs. M/s. Heritage Project (ITAT Amritsar)

In the absence of any specific mention of the Assessing Officer in the assessment order for charging of interest u/s 234A and 234B, no interest would be recovered from the assessee merely by way of a demand notice....

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In absence of communication of interest on IT Refund no penalty for not offering the same for tax

M/s Subhash Chander Sewa Vs Income Tax Officer (ITAT Amritsar)

Admittedly there is a mistake committed by the assessee in not adding interest on the refund to his sources of income. There is no disputing the fact that the tax payer duly and diligently must necessarily in its return of income disclose all avenues of his income. The assessee in its defence has consistently maintained […]...

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Service of Notice to the firm: ITAT Amritsar Explains the Law

Rajan Chopra, jalandhar Vs. DCIT (ITAT Amritsar)

A partnership firm purchased property from NRI but failed to deduct TDS u/s 195. The ADIT (International Taxation) raised demand comprising tax and interest by issuing notice to one of the partners of the firm in his individual capacity. ...

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Onus to enforce attendance of hostile witness located beyond 500 Kms

M/s. Apeejay Education Society vs. Asstt. Commr. of Income Tax (ITAT Amritsar)

During Income tax proceedings, often statement of a person is used to catch hold of prospective tax evading assessees. But, it is trite that the statement of such a person cannot be allowed to be used against the assessee without even providing an opportunity of cross examining such person....

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