Joharimal High School Vs ITO (ITAT Cuttack) Undisputedly rather admittedly, the assessee does not enjoy registration u/s.12AA of the Act and as per e-return filed before the Bench, as per column 3, the assessee has shown receipt of income of Rs.97,10,521/- and as per column 4(i), amount applied during the previous year or expenditure incurred […]
Ravi Metallics Limited Vs PCIT (ITAT Cuttack) A perusal of the order of the ld. Pr.CIT shows that the show cause notice issued u/s.263 of the Act has been issues only on 1st March, 2019. Admittedly, the assessee has responded to the show cause notice though on 26.03.2019. In the said reply, the assessee has […]
It was the submission that assessee has acquired multiple units and, therefore, the assessee is not entitled to claim of exemption u/s. 54F
ITAT held that revenue should also be careful when filing the appeals against the order of the appellate authorities. Not all orders of the appellate authorities are erroneous; a little care in filing these appeals would go a long way.
ACIT Vs Kalinga Mining Corporation (ITAT Cuttack) We are not going into merits of the appeals. Only because an opportunity of hearing as prescribed u/s.250(1) of the Act has not been provided by the ld. CIT(A) to the AO and there is a clear violation of principle of natural justice in respect of opportunity to […]
Explore the Orissa Power Transmission Corporation Ltd vs. ACIT case at ITAT Cuttack. Analysis of interest income, business vs. other sources, and prior period expenses.
A perusal of the assessment order clearly shows that the provisions of section 145 (3) have not been invoked and the books of account of the assessee have not been rejected. This being so, admittedly, estimation of the assessee’s income is not permissible.
Held that the assesee funds/surplus has been utilised and diverted in violation of several provisions of Section 13(1) & 13(2) of the Act. Exemption u/s 11 denied.
Explore the Kyal Agencies vs. PCIT case at ITAT Cuttack. Analysis covers sundry creditors, arithmetical mistakes, and sales discount reconciliation. Know why the revision was quashed.
Kendrapara Credit Co-operative Society Ltd. Vs ITO (ITAT Cuttack) A perusal of the facts as recorded by the AO shows that the delay in submitting the audit report was on account of delay in obtaining audit report from the statutory auditors. It is fairly admitted that the statutory auditors is appointed by the Registrar of […]
