However, the assessee did not comply with the notices issued and therefore, AO completed the scrutiny assessment in the case of the assessee for the AY 2017-18 as best judgment assessment U/s. 144 of the Act and passed the assessment order.
ITAT Visakhapatnam held that addition under section 68 of the Income Tax Act towards unsecured loan sustained as creditworthiness of the lender not proved. Accordingly, ground raised by the assessee dismissed.
The assessee is an educational institution established on 17.08.1976 by Act 43 of the 1976 of Andhra Pradesh State Legislature Act and Governed by Act 4 of Andhra Pradesh Universities Act 1991.
On appeal, after considering the submissions of the assessee, the Ld. Addl/ JCIT (A), partly allowed the appeal of the assessee. On being aggrieved, the assessee filed the present appeal before the Tribunal.
ITAT Visakhapatnam held that dismissal of appeal and passing of ex-parte order by CIT(A) in absence of any response on behalf of the assessee untenable since CIT(A) failed to decide the case on merits.
ITAT Visakhapatnam remanded the matter back to CIT(A) for fresh consideration since CIT(A) passed ex-parte order as there was on response on behalf of the assessee.
Assessee has not properly explained delay and her only contention is Chartered Accountant’s wife was not well that itself is not a valid ground to condone delay of 275 days
ITAT Visakhapatnam held that advertisement expenditure claimed by the hospital has violated the provisions of Indian Medical Council Act 1956 professional conduct, Etiquette and Ethics Regulations, 2002. Hence, expenditure disallowed.
Read the detailed analysis of Kanjula Rajagopal Reddy Firm vs. ITO case by ITAT Vishakhapatnam regarding TCS credit eligibility under Section 194Q without TDS shortfall.
Understand the verdict of Vishakhapatnam ITAT on unexplained cash deposits. Detailed analysis on taxpayer’s explanation, legal provisions, and conclusions.
