Shri Anil Khandelwal Vs ITO (ITAT Indor) -
Shri Anil Khandelwal Vs ITO (ITAT Indor) Once the condition of further proviso of Section 194C(3) of the Act are satisfied, the liability of the payee to deduct tax at source would cease. Examining the facts of the instant appeal we find that the assessee received Form 15I from the truck owner namely Shri Kishorilal Birla […]...
Read More
Shri Anil Agarwal Vs ACIT (ITAT Indore) -
Shri Anil Agarwal Vs ACIT (ITAT Indore) It has been held that even when the Assessing Officer of the person searched and the other person is common, the Assessing Officer of the person searched has to necessarily form a satisfaction that the item referred to in section 153C belongs or belong to a person other […]...
Read More
Shri John Jacob Vs Jt. CIT (ITAT Indore) -
Shri John Jacob Vs JCIT (ITAT Indore) Assessee had produced books of account and audited statements, which proved that the assessee had sufficient surplus in his capital account to give interest free loan. Further that, the AO as well as CIT(A) had not brought anything on record to show that money so advanced was out […]...
Read More
Smt. Anita Singh Vs ACIT (ITAT Indore) -
Smt. Anita Singh Vs ACIT (ITAT Indore) in the year 2006 itself the assessee along with other persons initiated the process of developing a colony which is proved by the Registration No.40/2006 issued on 21.8.2006. Few months before and the period thereafter all these 18 persons kept on purchasing the land from various land owners and pa...
Read More
Ashoka Hi-Tech Builders P.Ltd Vs Dy. Commissioner of Income Tax (ITAT Indore) -
Ashoka Hi-Tech Builders Pvt. Ltd Vs DCIT (ITAT Indore) In this Case ITAT Indore explains Entire law on taxation of real estate construction contracts in the context of ‘completed contract’ vs. ‘percentage completion’ with reference to Accounting Standards AS-7 and AS-9 and all important judgements on the issue. I...
Read More
Shri Ashok Vani Vs ITO (ITAT Indore) -
That, the learned CIT(A) grossly erred, both on facts and in law, in confirming the addition of 77,845/- made by the AO in the appellant's income on allegation of unexplained cash, solely on the basis of statement of the appellant recorded during the course of survey u/s. 133A of the Act, without considering and appreciating the explanati...
Read More
ACIT Vs M/s Arihant Capital Markets Ltd. (ITAT Indore) -
Assessee made no offence prohibited by law which can be contemplated to be covered under Explanation to section 37 of the Act and, therefore, the payment of penalty made by the assessee to the Stock Exchange is a regular business expenditure and the impugned disallowance has rightly been deleted by the learned Commissioner of Income Tax (...
Read More
Shri Omprakash Vs. Asst. Commissioner of Income Tax (ITAT Indore) -
For the only reason that the payment of purchase has been made after a lapse of 9 months cannot render the purchase as non genuine unless and otherwise any material is brought on record which could negate this...
Read More
Shri Keshav Lila Vs. Assistant Commissioner of Income Tax-1(2) (ITAT Indore) -
Shri Keshav Lila Vs. ACIT (ITAT Indore) CBDT instructions which in our view provides a guideline to the search conducting team that no seizure should be made of the jewellery and ornaments found during the course of search proceedings u/s 132 of the Act, if the same have been duly declared in the wealth tax […]...
Read More
Income Tax Officer– 2(1) Vs. Narayan Mali (ITAT Indore) -
Indore bench of Income Tax Appellate Tribunal (ITAT) deleted the penalty imposed by the Assessing Officer (AO) by considering the fact that the assessee conceded the transaction of Sale of Agricultural Land in the hands of his Hindu Undivided Family (HUF)....
Read More