ITAT Dehradun

Assessment orders passed u/s 153A quashed in absence of individual approval u/s 153D

Inder Pal Singh Arora Vs DCIT (ITAT Dehradun)

Held that in the present case the approving authority has acted casually and granted the approval u/s. 153D in a mechanical manner without judicious exercise of power. According, approval granted u/s 153D was quashed and consequently the assessment order u/s 153A was also quashed....

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AO cannot ignore Audit Report filed during assessment proceedings

Rajesh Mittal Vs ITO (ITAT Dehradun)

Rajesh Mittal Vs ITO (ITAT Dehradun) The only issue pertains to application of provisions u/s 44AD of the Income Tax Act, 1961. The assessee earned income from sale & purchase of derivatives which the AO held that the same should be treated as business income. The assessee has also incurred losses in the derivatives trading […]...

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Section 234E Late fees cannot be levied for Defaults Prior To 01.06.2015

Om Prakash & Sons Vs ITO (ITAT Dehradun)

Om Prakash & Sons Vs ITO (ITAT Dehradun) The issue pertains to levy of fee u/s 234E for the A.Y. 2013-14, 2014-15 and 2015-16. The amendment has been brought w.e.f. 01.06.2015. Hon’ble Karnataka High Court in case of Fatehraj Singhvi & Ors. vs. UOI & Ors. 2016 (9) TMI 964 is in favour of the […]...

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Interest on income tax refund is not effectively connected with PE

ACIT (Intl. Taxation) Vs Baker Hughes Singapore Pte. (ITAT Dehradun)

ACIT (Intl. Taxation) Vs Baker Hughes Singapore Pte. (ITAT Dehradun) Article VII deals with taxation of business profits and also provides for mechanism to compute the profits of the business. Paragraph no. 4 relieves the source State from the rigors of paragraphs nos. (1) and (2) in case the interest is found to be effectively […]...

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Reassessment on the basis of change of opinion, bad-in-law

Uttarakhand Purv Sainik Kalyan Nigam Ltd. Vs ITO (ITAT Dehradun)

Uttarakhand Purv Sainik Kalyan Nigam Ltd. Vs ITO (ITAT Dehradun) Reassessment on the basis of change of opinion, bad-in-law, more-so, when the case was re-opened after the expiry of four year and there was no non-disclosure which could be attributable to the assessee A) Re-opening of assessment on the same issue which was dealt during [&h...

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Section 24(b) Interest deduction eligible on Property received as per family settlement deed

Sanjeev Jain Vs DCIT (ITAT Dehradun)

Sanjeev Jain Vs DCIT (ITAT Dehradun) There is no dispute that there was a house property, which was noted by the borrowed capital of the family of the assessee. It is also not disputed that assessee was one of the applicant of the loan. Only dispute is with respect to the family settlement dated eighth day […]...

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