ITAT Jodhpur

Liability payable as a consequence of trading transaction cannot be added U/s. 68

ITO Vs Ashok Transport Co.(ITAT Jodhpur)

Since transaction between assessee and truck owners was a liability which assessee had to pay arising from trade transaction and same could not be added under section 68....

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Section 11 exemption cannot be denied for non-filing of audit report with return

ITO Vs Society for Education Conscietisation Awareness & Training (ITAT Jodhpur)

The claim of exemption under section 11 could not be denied to assessee society on the ground that the audit report was not filed online along with the return as the requirement of law that the assessee shall have its account audited, had been complied with within the time prescribed by the statute....

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No TDS on Sale of Property if Sale consideration of each Co-owners not exceeds Rs. 50 Lakhs

M/s. Oxcia Enterprises Private Limited Vs DCIT (ITAT Jodhapur)

M/s. Oxcia Enterprises Private Limited Vs DCIT (ITAT Jodhapur) Even though the admitted position is that the assessee buyer/transferee has not deducted tax in the hands of the Joint Owners of the property, still we note that sub-section(2) of sec. 194-IA of the Act provides an exception from deducting tax of 1% of the sale […]...

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Mistake by Advocate is Reasonable Cause to condone Delay in Filing Appeal

Mahnoo Khan Vs ITO (ITAT Jodhpur)

Mahnoo Khan Vs ITO (ITAT Jodhpur) In the present case it is noticed that the Ld. CIT(A) dismissed the appeal in limine and had not condoned the delay.  He mentioned that there was delay of 740 days in filing the appeal, however, the claim of the assessee is that the delay is of 217 days. […]...

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Deemed rental of SOP should be determined as per municipal ratable value

Smt. Rekha Singh Vs ITO (ITAT Jodhpur)

The house which is not having any actual rental income but self occupied by assessee should be determined as per the municipal ratable value. Accordingly, the matter is restored to file of the Assessing Officer to find out the municipal ratable value of the house for computing income u/s 22 of the I.T. Act. We direct accordingly....

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Interest on housing loan used for advancing loans can be claimed against Interest Income

Smt. Anuradha Agarwal Vs Income Tax Officer (ITAT Jodhpur)

These are the appeals filed by the different assessees against the separate orders of the ld. CIT(A) Ajmer dated 05/10/2017 for the A.Y. 2013-14 in the matter of order u/s 143(3) of the Income-tax Act, 1961 [hereinafter referred to as ‘the Act’, for short...

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Addition deleted as money deposited in the bank account was received from son

ITO Vs. Hukum Singh Rao (ITAT Jodhpur)

It was explained by the appellant that the money deposited in the bank account represented cash received from elder son, who was tax payer and the withdrawals in the bank account had a a chronologically progressive linkage of events....

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Excess Stock & Cash related to business taxable as business income

Shri Lovish Singhal Vs Income Tax Officer (ITAT Jodhpur)

Excess stock found during the course of survey and surrender made thereof was found to be taxable under the head |Income from business or profession|. Similarly, in respect of excess cash found out of sale of goods in which assessee was dealing was also found to be taxable as business income thus, there was no justification for taxing suc...

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JCIT cannot give Approval U/s. 153D in a mechanical way

Indra Bansal & Ors. Vs ACIT (ITAT Jodhpur)

Joint Commissioner has failed to grant approval in terms of section 153D of the Act i.e., after application of mind but has rather carried out exercise in utmost haste and in a mechanical manner and, therefore, the approval so granted by him is not an approval which can be sustained. ...

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No disalllowance U/s. 40A(3) for cash Payment of electricity bills of JVVNL

Sumit Industries Vs. ITO (ITAT Jodhpur)

Payment of electricity bills to JVVNL is held to be the payment made to the government for the purpose of section 40A(3) of the Income-tax Act and therefore said section 40A(3) cannot be invoked and no addition is called for and additions so made and confirmed by the ld. CIT(A) is directed to be deleted....

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June 2022