Held that fees like entrance fees as well as life membership are part of the corpus fund and accordingly are in the nature of capital receipt.
Held that revisional jurisdiction u/s. 263 of PCIT cannot be invoked for initiation of penalty proceedings without holding that the assessment order passed by the AO as erroneous and prejudicial to the interest of revenue.
Held that assessee has no interest in the ownership of the asset but he is in possession of the asset for conducting its business, the litigation expenditure incurred is only to protect his business and, therefore, the same is revenue expenditure.
Allen Career Institute Vs JCIT (ITAT Jaipur) Disallowance of Rs.2,01,515/- on account of New Electricity Connection charges. In Ground of Appeal disallowance of Rs. 2,01,515/- made relating to the claim on account of electric connection charges, is agitated. The AO noted that the assessee had claimed expenditure of Rs.2,37,076/- for new electricity connection charges. When […]
Where a number of persons combine together and contribute to a common fund for the financing of some venture or object and in this respect have no dealings or relations with any outside body, then any surplus returned to those persons cannot be regarded in any sense as profit.
Held that the department has failed to issue notice, failed to report the reasons for reopening the case and also failed to take the approval of the appropriate authority before as initiation of proceedings u/s 147 of the I.T. Act. Appeal allowed on technical ground.
No addition can be made only on the basis of statements of the third party without providing the opportunity of cross-examination of the person when specifically asked by the assessee in whose hand the addition has been made
Explore Mahaveer Prasad Agarwal vs. DCIT case at ITAT Jaipur, analyzing discretionary penalties under sections 271AAB and 271 of the Income Tax Act.
In a significant decision, ITAT Jaipur, in Suman Solanki vs DCIT case, rules that timely deposited PF/ESI contributions before return filing are admissible deductions. Explore the detailed analysis.
Explore the ITAT Jaipur ruling in Shree Radheshyam Sharnam Vs CIT case. Delve into the impact of Covid-19 on document submission, appeal delays, and the final decision under section 80G(5)(vi).
