ITAT Patna held that as assessee duly complied with the requirement of maintaining the records of the donors in the form of their names and addresses the same cannot be held as anonymous donations and accordingly provisions of section 115BBC of the Income Tax Act are not attracted.
Explore the PCPL and RK-JV Vs State of Bihar case regarding GST appeal rights and the tribunal’s absence, with insights into statutory remedies and court directives.
Motiprabha Infrated Pvt. Ltd. Vs Union of India (ITAT Patna) Undisputedly, minimum statutory period of 30 days mandated under the provisions of Section 74(A) of CGST/BGST Act, 2017 was not afforded to the petitioner for making payment due and prior to the expiry of 30 days, the assessing officer proceeded to pass the order, ex […]
Kumar Construction Vs DCIT (ITAT Patna) Claim of the assessee firm rejected by the AO merely on the ground that capital has not been introduced by the partners through banking account is unjustified. Therefore, it is perverse and liable to be rejected and to substantiate the claim of assessee, the AR relied on the decision […]
ITAT Patna partly allows appeal of Anil Kumar Singh. Orders restoration of the claim of remuneration, including bonus, based on Partnership Deed under Section 40(b)(v).
Paras Nath Singh Vs ACIT (ITAT Patna) Main grievance of the assessee is disallowance u/s 40(a)(ia) amounting to Rs. 25,74,023/- being the expenditure incurred in respect of freight and carriage. On this specific issue from the perusal of assessment order passed by the AO and it was come to our notice that he had categorically […]
No distinction between compensation for compulsory acquisition of agricultural & non agricultural land for income Tax exemption under RFCTLARR Act
ITO Vs Suresh Prasad (ITAT Patna) CBDT vide Circular No. 36/2016 dt. 25/10/2016 clarified that the compensation received in respect of award or agreement which has been exempt from levy of Income Tax vide section 96 of the RFCTLARR Act shall also not be taxable under the provisions of Income Tax Act, 1961 even if […]
ITAT Patna held that in absence of any evidence of tax evasion by showing fictitious or false transactions, addition by invoking provisions of section 40A(3) of the Income Tax Act unsustainable.
So far as the disallowance made by the ld. Assessing Officer under section 40(a)(ia) of the Income Tax Act is concerned, it is noted that since the income of the assessee is exempt under section 10(23C)(vi), therefore, any disallowance made under section 40(a)(ia) by the ld. Assessing Officer will only add to the income of the assessee, which otherwise is exempt under section 10(23C) as stated above.
