ITAT Indore

Section 153A Search Assessment- No addition if No incriminating material

Mohd. Atique Vs ACIT (ITAT Indore)

In search assessment, any undisclosed income, which can ultimately be added, is only to the extent of any unrecorded assets/material found or any incriminating documents found as representing undisclosed income earned, since, AO had not made any specific reference to the incriminating material found during the search in respect of additio...

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Section 41(1) not applicable to Advance for bookings not claimed as allowance or deduction

ACIT Vs Sunderdeep Construction Pvt. Ltd (ITAT Indore)

ACIT Vs Sunderdeep Construction Pvt. Ltd (ITAT Indore) On perusal of the finding of Ld. CIT(A) as well as the facts narrated before us along with the documentary evidences it is predominantly clear that the alleged amount of bogus creditors are not in the form of sundry creditors. These amounts are advances against booking of […]...

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PCIT cannot assume Section 263 jurisdiction when AO has made sufficient enquiry

Ruchi J Oil Pvt. Ltd Vs PCIT (ITAT Indore)

Since there was a detailed enquiry by AO on issue of equity shares to non-residents and after thoroughly discussing the issue in the assessment order, AO had taken a permissible view within the parameters of the law, there remained no room for PCIT to assume the jurisdiction u/s 263....

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No Section 40(a)(ia) disallowance if Expense was not claimed

ACIT Vs Parag Fans & Cooling System Pvt. Ltd (ITAT Indore)

ACIT Vs Parag Fans & Cooling System Pvt. Ltd (ITAT Indore) Disallowance was made for the alleged non deduction of tax at source on the alleged amount of interest of Rs.25,95,609/-. We find that the assessee has not shown expenditure of Rs.25,95,609/- in its Profit &Loss account. Since no such expenditure has been claimed by [&hell...

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Addition based on admission of assessee’s son during search

Ajit Singh Melhotra Vs ACIT (ITAT Indore)

Ajit Singh Melhotra Vs ACIT (ITAT Indore) We find that the addition was made on the basis of admission of assessee’s son during the course of search. It was contended before us, that all these documents were properly recorded in the regular books of accounts of the persons to which these documents actually pertained. However, […]...

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TDS deduction in case of Rent Paid to Co-Owners

M.P. Warehousing & Logistics Corporation Vs ACIT (TDS) (ITAT Indore)

M.P. Warehousing & Logistics Corporation Vs ACIT (ITAT Indore) From perusal of the above details which stands un-rebutted, we find that the assessee had duly deducted the tax at source on the rent paid to the co-owners where the amount of rent exceeded the limit of Rs.1,80,000/- and in two cases where the amount was […]...

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No revision if assessment order was not prejudicial to interests of Revenue

Shri Jitendra Patidar (L/H of Late Shri Satyanarayan Patidar) Vs Pr. CIT (ITAT Indore)

Provisions of section 263 could be invoked when twin conditions i.e. the assessment order was erroneous and prejudicial to the interest of Revenue were satisfied. Revision under section 263 could not be invoked if assessment order was not prejudicial to the Revenue....

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No TDS u/s 195 levied on Placement Services since it is Not Covered under Technical Service

D&H Secheron Electrodes Pvt. Ltd. Vs ITO (ITAT Indore)

The issue under consideration is whether the Payment towards placement services is covered under technical service and TDS u/s 195 is applicable on the same?...

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No penalty for deduction of TDS at Lower Rate under wrong section

Jitendra Sharma Vs JCIT (Intl Taxation) (ITAT Indore)

Jitendra Sharma Vs JCIT (Intl Taxation) (ITAT Indore) ITAT Indore held that no penalty under Section 271C to be levied for deduction of tax under Section 194IA @1% instead of Section 195 @ 20.6% on purchase of property from Non Resident. FULL TEXT OF THE ITAT JUDGEMENT The above captioned appeals filed at the instances […]...

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ITAT Grant 12AA Registration to Trust w.e.f. 13.8.1973

Shri Jain Shwetamber Murtipujak Sukrat Fund Kapda Committee Vs. CIT (Exemption) (ITAT Indore)

Jain Shwetamber Murtipujak Sukrat Fund Kaoda Committee Vs. CIT (ITAT Indore) On perusal of the record we find that the assessee trust was incorporated in the year 1945 and even in the Permanent Account Number (PAN) allotted by the Income Tax Department the date of incorporation of the trust is 16.4.1945. The assessee has claimed […...

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