As per section 12AA, the commissioner has to satisfy himself about the objectives of the Trust and genuineness of its activities and for such purpose he has the power to call for such documents or information from the assessee as he thinks necessary.
ITAT Chandigarh held In the case of M/s HMM Coaches Ltd. vs. ACIT that according to the Arbitration and Conciliation Act, the Arbitral Award is like a decree of the Court and is executable by the Courts. It is, therefore, like an order/judgement enforceable at law and as such, could not be construed as document or evidence.
ITAT Chandigarh held in Lakshmi Energy & Foods Products Ltd Vs The ACIT that if the assessee was following mercantile method of accounting and it had booked loss in the assessment year in which the same had been determined then the same should be allowed because the assessee
ITAT Chandigarh held In the case of ACIT vs. Ms. Harjinder Dhiman that time limit for deposit in capital gains scheme is to be taken as due date of filing of return of income u/s 139(4). In the instant case, the sale proceeds were deposited in the capital gains scheme on 05.02.2009
The ITAT Chandigarh in the case of Mahabir Educational Welfare Society vs. DCIT held that for claiming exemption u/s 10)(23C)(iiiad) filling of return of income as per the law applicable for AY 2005-06 and 2006-07 was not mandatory as the gross receipts not exceeded Rs. 1 crore
DCIT (TDS) Vs. Punjab Infratructure & Development Board, Chandigarh (ITAT Chandigarh)- When payee or resident has filed its return of income disclosing the payment received by and in which the income earned by it is embedded and has also paid tax on such income
Shri Hem Raj, Vs. The A.C.I.T (ITAT Chandigarh) The appellant was running liquor, wine and beer shop and was authorized to operate the liquor shop for the period of one year from April, 2007 to March 2008.
ITAT held in Pooja Industries Vs ITO that penalty u/s 271(1)(c) could not be levied only because that the assessee had wrongly claimed deduction u/s 80IC @ 100% instead of deduction u/s 80IB. Penalty could only be levied only
The undisputed facts of the case are that the assessee society does not possess registration under section 12A of the Act for relevant assessment year. From the perusal of return filed by it alongwith Form No.10B shows that it intended to claim exemption under section 11 of the Act
M/s Ved Parkash Contractors Vs. CIT (ITAT Chandigarh) – It is true that the revisional authority itself has wide power to examine the case whether the decision has been erroneous and prejudicial to the interest of Revenue and in exercise of these power modifications are permissible
