ITAT Visakhapatnam

Tax on Salary of non-resident for services rendered outside India

DCIT Vs Chukkapalli Mallikarjuna (ITAT Visakhapatnam)

Section 5(2)(a) provides that only such income of non-resident would be subjected to tax in India that is either received or is deemed to be received in India, therefore, salary accrued to a non-resident seafarer for services rendered outside India on a foreign ship could not be included in total income merely because salary has been cred...

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Section 271C applies to both failure to deduct and pay TDS

Eswar Exports Vs Add. CIT (ITAT Visakhapatnam)

Since assessee had deducted the TDS, but not remitted to Government account and for that he had not given any satisfactory explanation either before AO or before CIT(A), therefore, penalty under section 271C was justified....

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If assessee fails to establish genuineness of expenses than AO can compute income on estimate basis

ACIT Vs Raghavendra Constructions (ITAT Visakhapatnam)

Many petty payments were made in cash and it was also not ascertainable whether payments attract disallowance under section 40A(3). Clearly, assessee could not establish genuineness of the expenses, therefore, AO was justified in computing income on estimate basis....

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Disallowance u/s 14A cannot be made in absence of exempt income

DCIT  Vs Sarita Synthetics & Industries Ltd. (ITAT Visakhapatnam)

No disallowance u/s 14A was called for in case of no exempt income earned by assessee in the relevant assessment years...

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Addition justified for unexplained deposits in undeclared bank account

Smt. Dharipalli Rangamma Vs ACIT (ITAT Visakhapatnam)

Since the bank account in which assessee made huge cash deposits found during the course of search was not declared by assessee and assessee had not filed return for the year under consideration, therefore, the same constituted seized material so as to invoke section 153C in assessee’s case....

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Addition u/s 68 was justified in respect of unexplained creditors shown as bogus

ITO Vs Sri Tadi Vasudeva Rao (ITAT Visakhapatnam)

AO was justified in making addition under section 68 of credit balance showing in assessees books of accounts against the Nil balance shown by the creditors in their books of accounts as on verification of the books of accounts of the creditor it was found that there was no balance outstanding against assessee and the same indicated that ...

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Section 271FA penalty not leviable in absence of reportable transaction

M/s Guntur District Co-operative Central Bank Ltd. Vs Director of Income Tax (ITAT Visakhapatnam)

Penalty under 271FA was unjustified as there was no requirement to file the AIR in absence of reportable transaction during the financial year and also, department did not make out a case that the assessee had the recorded re portable transactions in the relevant financial year....

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No expenditure against exempt income to be disallowed in absence of exempt income

GVK Power & Infrastructure Ltd. Vs  ACIT (ITAT Visakhapatnam)

Where there was no dividend income earned during the relevant assessment year, there was no case for disallowing the expenditure relatable to dividend income....

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Notice u/s 148 to a dead person instead of legal heir was not valid

Sri Aemala Venkateswara Rao Vs ITO (ITAT Visakhapatnam)

ssessment made by AO in the name of the legal heir without issuing notice u/ 148 was not valid as the notice under section 148 was required to be issued to a correct person and not to a dead person and the same was not a merely a procedural requirement but was a condition precedent to the impugned notice being valid in law....

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Assessment u/s 153C on non-recording of reasons & unsigned order sheet invalid

Sri Sesha Sai Township P. Ltd. Vs ACIT (ITAT Visakhapatnam)

Where AO of searched person had not recorded the reasons and order sheet of  AO of assessee though reasons were typed but remained unsigned, notice issued u/s 153C and the assessment order passed by AO was not valid as AO did not comply with the statutory requirement for issue of notice u/s 153C....

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October 2020