ITAT Cuttack

Section 271(1)(c) Penalty notice without any Specific allegation is unjustified

Dr. Subash Chandra Jena Vs ACIT (ITAT Cuttack)

Both assessment and the penalty order do not specify as to on which limb the AO intends to impose penalty u/s.271(1)(c) of the Act either for concealment of particulars of income or for furnishing of inaccurate particulars of such income....

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No TDS u/s 194H for Prepaid SIM & 194J for Roaming Charges

Vodafone Idea Limited Vs ACIT-TDS (ITAT Cuttack)

AO considered assessee as assessee in default in respect of non-deduction of TDS under Section 194H and 194J of the Act on payment of commission and fees for professional or technical services and passed an order under Section 201(1) & 201(1A) of the Act....

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Non-Availability of PAN of Deductee is not valid excuse for not filing TDS Return

Mahanadi Coal Fields Ltd. Vs JCIT (TDS) (ITAT Cuttack)

The assessee cannot escape himself for non-filing quarterly TDS merely stating that the PAN of the employees are not available. The penalty is provided in the Income Tax provisions u/s.272A(2)(k) of the Act is mandatory in nature except in case of reasonable cause proved by the assessee, which is lack in this case....

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Best judgment assessment- Salary & interest to partners can be disallowed

Eastern Engineering Venture Vs ITO (ITAT Cuttack)

ITAT held that As there was part non-compliance by assessee with first notice under section 142(1) and complete non-compliance with subsequent notice under section 142(1), the AO was right in framing assessment order under section 144 and in denying allowance of interest and salary paid to partners by taking support of provisions of secti...

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Income shown as Salary Income First and Later claimed as Business Income- ITAT Remands Matter Back to AO

Shri Jalendra Sahoo Vs ITO (ITAT Cuttack)

The appeal has been filed against the addition of Rs. 11,12,211/- made by the learned AO and confirmed by the learned CIT(Appeals) treating the said amount as not commission but as salary income without allowing deduction u/s. 37 of the IT. Act, 1961, the expenses incurred to earn the said commission. But in fact, the entire receipt is co...

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No addition in case of unabated assessment if no incrimination material was found

ACIT Vs Diamond Plaza (P) Ltd. & Vice-Versa (ITAT Cuttack)

Assessment under section 153A could not be made for making addition of unexplained income if assessment was unabated which had attained finality on the date of search and no incriminating material was found as per record. ...

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Penalty u/s. 271E cannot be levied in case of bonafide belief

Ms. Orison Transport Vs DCIT (ITAT Cuttak)

Penalty u/s.271E was not leviable as the belief of assessee that return of advance from customers was not prohibited by section 269T was a bonafide belief....

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Provisions of Section 68 Cannot be applied to Sundry Creditor

DCIT Vs Allied Infra suppliers (ITAT Cuttack)

The provisions of section 68 cannot be applied to sundry creditors and the assessee cannot be applied to sundry creditors and the assessee cannot be asked to prove the 3 ingredients of cash credits in respect of sundry creditors....

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Contribution to EPF & ESI deposited before Income Tax Return filing due date cannot be disallowed

Das & Sons Infracon Pvt. Ltd. Vs DCIT (ITAT Cuttack)

Das & Sons Infracon Pvt. Ltd. Vs DCIT (ITAT Cuttack) amount claimed on payment of PF and ESI having been deposited on or before due date of filing of returns, same could not be disallowed under section 43B or under section 36(1)(va). FULL TEXT OF THE ITAT JUDGMENT This is an appeal filed by the […]...

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CIT cannot disturb stock valuation method followed by Assessee consistently

M/s. Sree Alankar Vs PCIT (ITAT Cuttack)

M/s. Sree Alankar Vs PCIT (ITAT Cuttack) In the instant case, we find that it is not in dispute that the assessee is consistently following the same method of valuation of closing stock which was also followed in the year under consideration. The profit was deduced in accordance with the method adopted by the assessee. […]...

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