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ITAT Cuttack

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ITAT allows foreign travel expenses for board meetings in Singapore

July 8, 2024 267 Views 0 comment Print

ITAT Cuttack rules replacement of gear boxes in Surface Furnace Kiln as current repairs under Section 31(1) for Sponge Tata Iron Ltd. Read the full judgment analysis.

Cuttack ITAT condones 145-Day Appeal Delay as Order Email Landed in Spam

July 2, 2024 225 Views 0 comment Print

Cuttack ITAT condones a 145-day delay in the Tirupati Prasad Sahu vs. ITO case due to emails going to spam. Case restored for merits adjudication.

ITAT Excludes Maintenance & Electricity Charges from Property Cost for LTCG calculation

June 19, 2023 1824 Views 0 comment Print

ITAT Cuttack – Abani Pattanayak Vs ACIT- ITAT ruled that maintenance and electricity charges not in the form of deposits are excluded from property cost for computing LTCG

Claim of exemption of LTCG u/s 10(38) allowable as requisite conditions satisfied

June 8, 2023 1908 Views 0 comment Print

ITAT Cuttack held that claim of exemption of long term capital gains (LTCG), from sale of equity shares, under section 10(38) of Income Tax Act, 1961 allowable as requisite conditions satisfied.

Addition towards SBN deposits sustained as source not established

June 5, 2023 1911 Views 0 comment Print

ITAT Cuttack held that addition towards the unexplained investment for SBN deposits during demonetization period sustained in absence to establish source of the same without documentary evidences.

No section 271(1)(c) penalty when Sustainability of Addition is debatable

April 16, 2023 1185 Views 0 comment Print

Manjulata Sahoo Vs PCIT (ITAT Cuttack) It was the submission that against the order of the Tribunal, the assessee has filed appeal before the Hon’ble Jurisdictional High court of Orissa and the Hon’ble Jurisdictional High Court of Orissa was pleased to admit the appeal of the assessee in ITA No.8 of 2021 vide order dated […]

ITAT delete section 271(1)(b) penalty as Show Cause Notice was vague

March 30, 2023 1344 Views 0 comment Print

Siddarthini Nanda Vs ACIT (ITAT Cuttack) A perusal of the show cause notice as also the satisfaction recorded by the AO in the assessment order, clearly does not mention the specific notice issued u/s.142(1) of the Act in respect of which non-compliance the penalty has been initiated. A perusal of the assessment order in all […]

ITAT restores ex-parte Assessment to AO & Imposes cost of Rs. 25000 per assessment year on Assessee

March 12, 2023 1482 Views 0 comment Print

Raghunath Jew School of Management Studies Vs ITO (Exemption) (ITAT Cuttack) The facts in the present appeals clearly show that the assessments have been done ex-parte on account of the fact that the books of accounts and bills & vouchers were not produced before the AO. It is also an admitted fact that the assessee […]

Penalty of 100% of tax sought to be evaded u/s 271AAA was Not “Typographical Error”

February 27, 2023 4068 Views 0 comment Print

Penalty leviable u/s.271AAA was 10% of the concealed income whereas under section 271(1)(c), the penalty was leviable at 100% of the tax sought to be evaded, therefore, the claim of AO that show cause notice had been issued under both under section 271AAA and section 271(1)(c) was not correct and it was not a typographical error.

ITAT quashes section 263 revision order passed on a deceased assessee

February 17, 2023 990 Views 0 comment Print

Kusum Mehta Vs PCIT (ITAT Cuttack) Admittedly, the facts remain that on the death of an individual, Government draws information in respect of death from the cremation spot or on the basis of doctor’s death certificate. The State Government then issues the death certificate within 7 to 14 days. It is after this that the […]

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July 2024