Merely granting of stay does not mean that prosecution launched by Department has come to an end and appeal cannot be dismissed on account of low tax effect,
ITAT Jaipur held that equalization levy not applicable as role of the assessee is merely conduit between the entity carrying out the advertisement and Google. The ultimate benefit of such advertisement is not desired by the assessee.
ITAT Jaipur held that assessment which are already completed after making proper inquiries cannot be allowed to again reframed merely based on the search without any fresh evidence. Addition unsustainable
Rule 17A of Income Tax Rules, 1962 clearly explained that self certified copies of documents are sufficient for the claiming exemption under section 12AA
Shri Narendra Kumar Khandelwal Prop. M/s Ranjana Textiles Vs ITO (ITAT Jaipur) Interest free funds available: The law is well settled that where assessee is having mixed i.e. interest free/interest bearing funds both, but where the interest free funds are larger than the interest free advances/utilization than there will a presumption that the interest free […]
Brijesh Sharma Vs DCIT (ITAT Jaipur) During the Assessment assessee submitted to the AO vide letter dated 12.11.2014 that the assessee had purchased a plot of land situated in Jaipur for disclosed consideration of Rs. 5,21,000/- which was paid by cheque. The AO issued summon u/s 131(2) the seller, Smt. Choti Devi. In her statement […]
Instantly, we are confronted with a situation in which the revision was initiated on the basis of the AO sending a proposal to the CIT and not on the CIT suo motu calling for and examining the record of the assessment proceedings and thereafter considering the assessment order erroneous and prejudicial to the interests of the revenue.
ITAT condone delay of 9 years in filing appeal on account of inordinate delay of about 9 years as assessee was imprisoned to Jail
Recording of reasons before initiation of reassessment proceedings & communication thereof to assessee is sine qua non that goes to root of matter
Held that factors like high status, family tradition, deduction on account of purity and deduction towards Streedhan should be considered before making addition on account of unexplained investment. Accordingly, addition deleted.
