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 […]
ACIT Vs Shiv Offset India Pvt. Ltd. (ITAT Indore) In the instant case the Ld. A.O had passed the original assessment taking into consideration of all the documents and facts of the case and again he had reopened the case without bringing out any fresh material on record and thus there was a mere change […]
The issue under consideration is whether the Section 50C need to be complied at the time of computation of exemption u/s 54 or 54F?
whether assessee can be held liable u/s 271B of the Act for not getting the books audited during the years when the advances were received from customers under percentage completion method?
whether the disallowance u/s 40A(3) of the Act for the alleged payment in cash in excess of the limit prescribed u/s 40A(3) of the Act for making payment for purchase of land is justified in law?
Keshav Industries Pvt. Ltd. Vs ITO-TDS (ITAT Indore) Amendment dated 01.06.2015 in Section 200A of the Income Tax Act, 1961 is prospective in nature and cannot be applied retrospectively to previous TDS instances The ITAT Indore in Rajendra Prasad Tiwari (through Aakash Tiwari) Vs. Income Tax Department, had on 14/07/2020 brought a landmark finding on retrospective […]
Whether the CIT(A) is correct in restricting the addition u/s 69C for bogus purchases to 12.5% against the total purchase disallowance made by AO?
ACIT Vs A One Enclave (ITAT Indore) At any stage revenue has not disputed the fact that the alleged amount surrendered during the survey was unaccounted business income of the assessee and not from any other sources. Section 11 5BBE of the Act was inserted by Finance Act, 2012 w.e.f. 1.4.2013 which restricts the claim […]
The issue under consideration is whether the addition made by AO under section 68 in respect of the deposit of business of wife in their joint bank account is justified in law?
Shri Babulal Vani Vs ACIT (ITAT Indore) The issue under consideration is if the assessee is in a position to reconcile the discrepancy raised under survey with positive material,then, the A.O. should give relief to the assessee or not? In the present case, the assessee is an individual engaged in the business of grain, cotton, […]
