ITAT Jabalpur

Section 263 revision valid on absence or lack of enquiry

Jitendra Rana Vs PCIT (ITAT Jabalpur)

It is a clear case of an omission and, thus, non-application mind by the AO in the matter. That an absence or lack of enquiry, which ought to have been made under the circumstances, renders the order as erroneous in-so-far as it is prejudicial to the interest of the Revenue, liable for revision u/s. 263,...

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Conflicting judicial opinion – No adjustment U/s. 154 can be made 

Nikhil Mohine Vs DCIT (ITAT Jabalpur)

Nikhil Mohine Vs DCIT (ITAT Jabalpur) Sec. 43B(b) does not include the employee contribution, and even regarding so is to no avail, rendering the Explanations under reference, even as suggested by their express language, explanatory. An examination of the Notes on Clauses to, and the Memorandum explaining the Provisions of, Finance Bill, ...

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AO cannot refer matter to DVO without rejecting Books of Accounts

Prince Rai Vs ITO (ITAT Jabalpur)

The appellant failed to offer any explanation properly in support of the grounds raised in this appeal nor any supporting evidence were produced despite adequate opportunity having been provided. Since, in the instant case the appellant has not be able to show that the decision of the AO...

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Mere Technical Approval under Section 153D without deep Verification by JCIT renders Assessment Void

Smt. Sarika Mittal Vs ACIT (ITAT Jabalpur)

Smt. Sarika Mittal Vs ACIT (ITAT Jabalpur) It is not in dispute that the AO in all the cases is of the rank of the Assistant Commissioner, i.e., below the rank of the Joint Commissioner. Similarly, the year of search being f.y. 2009-10, all the assessment years under reference, i.e., AYs. 2004-05 to 2010-11, are […]...

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Section 153A Assessment invalid if No independent application of mind by JCIT before granting section 153D approval

ACIT Vs Mittal Roadways Pvt. Ltd. (ITAT Jabalpur)

ACIT Vs Mittal Roadways Pvt. Ltd. (ITAT Jabalpur) From the above correspondence between the A.O. on one hand and the JCIT on the other hand and the letter addressed by the JCIT to the Commissioner clearly shows that it was at the stage of discussion and the JCIT could not able to make his mind. […]...

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Service Tax paid through Banking Channel cannot be deemed as Unexplained

ITO Vs. Shri Ravindra Pratap Thareja (ITAT Jabalpur)

Assessee has paid the service tax amount through banking channel. Challans of the payment of tax were placed on record before the assessing authority. The source of alleged service tax amount is well explained in the books of account. ...

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Sec. 68 Unexplained Credit can only be added to taxable income of AY in which it occurs

Rajesh Kumar Soni Vs ITO (ITAT Jabalpur)

In a recent ruling, the ITAT Jabalpur, decided the case in favour of the assesse, deleting the additions made by the Assessing Officer towards sundry creditors amounting to Rs. 5.07 lacs. The court held that under Section 68 of the Income-Tax Act, 1961...

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Installation, commissioning or assembling services being part of composite supply contract covered by specific article on PE of DTAA & not general article on FTS

Birla Corporation Limited Vs Assistant Commissioner of Income Tax  (ITAT Jabalpur)

Birla Corporation Limited Vs ACIT (ITAT Jabalpur) Installation, commissioning or assembling services being part of composite supply contract covered by specific article on PE of DTAA and not general article on FTS. Facts of the case: Birla Corporation Ltd. (taxpayer), an Indian company is engaged in the business of manufacturing and selli...

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Allowability of interest expenditure on borrowed funds

Yash Vehicles Pvt. Ltd. Vs. Addl. CIT (ITAT Jabalpur)

In our considered opinion, no prudent businessman would borrow funds on interest and keep his own funds idle. Besides, (he transaction of loan is also not third party transaction but the funds borrowed from the Indian Overseas Bank by the sister concern have been taken as loan by the assessee without any business necessity because its own...

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