Shree Sita Edibles Ltd. Vs ITO (ITAT Raipur) ITAT find that the issue involved in the present appeal lies in a narrow compass, i.e., as to whether or not, a short deduction of tax at source by the assessee would call for triggering the provision of Sec. 40(a)(ia) of the Act for disallowing the amount […]
Shri Pankaj Surana Vs ITO (ITAT Raipur) As per Section 57(iii) of the Act, any expenditure not being in the nature of a capital expenditure, laid out or expended wholly and exclusively for the purpose of making or earning income under the head ‘income from other sources’ is to be allowed as a deduction. As […]
Vishnu Kumar Sinha (HUF) Vs ACIT (ITAT Raipur) In this case CIT(Appeals) had disposed off the appeal for non-prosecution and had failed to apply his mind to the issue which did arise from the impugned order and has been assailed by the assessee before him. We are unable to persuade ourselves to accept the manner […]
Jila Sahakari Kendriya Bank Maryadit Vs ITO (ITAT Raipur) It is not disputed by both the parties that there is no finding in the assessment order for levy of penalty for the alleged default u/s. 271B of the Act and it is also not disputed that after passing of the order on 31.12.2011, the alleged […]
Swaraj Builders Vs ITO (ITAT Raipur) Assessee had failed to comply with the mandate of law and had failed to deduct tax at source u/s.194A of the Act on the aforesaid amount of interest payment of Rs.7,46,025/-. Accordingly, the A.O had disallowed the amount of Rs.7,46,025/-u/s.40(a)(ia) of the Act which was thereafter, upheld by the […]
Nakoda Ispat Ltd. Vs DCIT (ITAT Raipur) Admittedly and undisputedly, the employees’s contribution to ESI and PF which have been collected by the assessee from its employees have thus been deposited well before the due date of filing of return of income u/s 139(1) of the Act. Till this provision is enacted in as the […]
ITAT held that tax withholding provisions under section 194H would not be applicable to discounts extended to pre-paid SIM distributors on transfer of pre-paid SIM cards/talk time.
ACIT Vs Sanjay Agrawal (ITAT Raipur) Insignificant mistakes in the accounts cannot justify rejection of books of accounts of the assessee under Sec. 145(3) of the Act. Facts- The case of the assessee was selected for scrutiny assessment u/s. 143(2). Accordingly, A.O directed the assessee to substantiate its claim for deduction of expenses under the […]
ITO Vs Satyanarayan Nathulal Gandhi Chowk (ITAT Raipur) Held that the entire purchase amount of such bogus purchase cannot be added at best the addition limited to the extent of G. P. Rate on purchases at the same rate of the genuine purchase. Facts- A survey operation u/s 133A was conducted in the business premises of […]
AO is under obligation to specify the appropriate limb of section 271(1)(c) of the Act at the time of initiation as well as at the time of levy of penalty notice.
