ITAT Jaipur held that TDS u/s. 194J of the Income Tax Act doesn’t apply to payment made by liquor company towards brand under the head ‘Franchise Expenses’ since the same is not in nature of ‘royalty’ or ‘Fees for Technical Services’. Accordingly, appeal of revenue dismissed.
ITAT Jaipur held that merely the claim of the assessee was not entertained it cannot be a reason automatically to levy the penalty for misreporting or under reporting of the income. Accordingly, levy of penalty under section 270A of the Income Tax Act set aside.
Jaipur ITAT rules that a clerical error in a tax return cannot be grounds for collecting tax on non-existent income, directing the department to rectify the mistake.
ITAT Jaipur held that delayed filing of Form No. 67 cannot be reason for denial of Foreign Tax Credit since filing of Form 67 is procedural/ directory requirement. Accordingly, appeal allowed and order of CIT(A) set aside.
Delhi and Rajasthan HC precedents cited as ITAT Jaipur rules that reassessment for ‘other persons’ must be year-specific and limited to incriminating material found during search
ITAT Jaipur held that disallowance of professional fees merely for the reason that notice under section 133(6) of the Income Tax Act remained unserved is not justifiable since assessee has placed various evidences on record. Accordingly, appeal is allowed.
ITAT Jaipur quashes ₹1.5 crore addition against Amar Partap Steels, ruling that uncorroborated statements cannot prove bogus loans.
ITAT Jaipur deletes an income addition based on a Form 26AS mismatch, ruling that entries from a wrong PAN were rectified and that form is not irrefutable proof of income.
The ITAT Jaipur quashed a penalty under Section 271B for failure to get accounts audited, ruling that if a taxpayer did not maintain books, they cannot be penalized for not auditing them.
The ITAT Jaipur dismissed an appeal by the tax department against Manoj Bahl, ruling it was not maintainable after the department issued a new notice under Section 153C.
