Since the jurisdiction of PCIT(E) was being limited to verification of two issues, one with regard to the ‘lease hold land’ and the second about the fee concession and on both accounts, CIT (E) had not drawn any adverse inference and, therefore, the order of CIT(E) denying the registration u/s 12AA was bad in law.
State Bank of Patiala Vs ITO (ITAT Amritsar) Admittedly the issue pertaining to exemption of I.K. Gujral Punjab Technical University Jalandhar, it is pending adjudication before the Hon’ble High Court of Punjab and Haryana. Nonetheless the certificate was issued by the chartered accountant of I.K. Gujral Punjab Technical University Jalandhar, certifying that the assessee is […]
Kohinoor Indian Pvt. Ltd Vs ACIT (ITAT Amritsar) M/S Kohinoor India Pvt. Ltd (Appellant) filed an appeal in the Appellate tribunal against the order dated March 14, 2017 passed by the Commissioner of Income tax (Appeals) (Respondent) in respect of assessment years 2012-13 and 2013-14, posing a question as to whether iPad falls under the […]
Supertechforgings (India) Pvt. Ltd. Vs DCIT (ITAT Amritsar) Conclusion: Additions made for alleged bogus purchase bills by AO was not justified as AO had not applied his mind to the information received from the Investigating Wing and he had not provided the opportunity to cross examine a person whose statement was recorded by the investigating […]
Shirmoni Gurdwara Parbandhak Committee Vs CIT (ITAT Amritsar) Conclusion: Donations made to the Shiromani Gurdwara Prabandhak Committee, which controlled the functioning of most of the historical gurdwaras in Punjab, Haryana and Himachal Pradesh, would be eligible for tax exemption as assessee’s total expenditure incurred on the religious activities was less than 5% during these years […]
Supertech Forgings (India) Pvt. Ltd. Vs DCIT (ITAT Amritsar) No addition in respect of bogus Purchases can be made during the year under consideration No addition in respect of bogus Purchases can be made during the year under consideration where the purchases made from the same parties have been accepted in subsequent year by Department. […]
Shri Puneet Sehdev Vs ITO (ITAT Amritsar) The activity for converting gold bricks, biscuits or bars, into jewellery amounts to ‘production or manufacture of a new article. The gold, silver or platinum in bar, biscuits or brick form, is converted by manual labour and by the use of implements/tools or by machinery, culminating into an […]
Smt. Harmohinder Kaur Vs. DCIT (ITAT Amritsar) The Apex Court in the cases of Central Bureau of Investigation vs. V.C. Shukla (supra) and Common Cause (A registered Society and Ors Vs. Union of India & Ors.(supra) analyzed the position of law with regard to the loose sheets/diary in which some noting has been made by […]
Registration under section 12A was allowable to assessee-society as the objects of the society was charitable in nature and activities were genuine; even if the control of the trust property was not vested in the public but was retained by the settlors and moreover, registration with the Registrar of Societies was not a precondition for granting registration u/s 12A.
Where no assessment proceedings are pending on the date of search and seizure proceedings, the assessment under section 153A can be carried out only on the basis of seized material and where no incriminating material was unearthed during the course of search proceedings, addition could not be made in the hands of assessee.
