ITAT Lucknow

Expense cannot be disallowed for mere absence of voucher

M/s Maheshwari Flour Mills Vs. JCIT (ITAT Lucknow)

The ITAT, Lucknow bench in M/s Maheshwari Flour Mills vs. JCIT, has held that expenses related to the fundamentals of the assessee’s business cannot be disallowed merely n ground that they were not vouched....

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Penalty cannot be imposed for Bonafide omission during return filing, surfaced during Section 148/148 Assessment

Pankaj Kumar Gupta Vs. ITO (ITAT Lucknow)

In the instant case, nothing is on record to show that there was any malafide intention on the part of the assessee to conceal the income or furnish inaccurate particulars of income and there was an omission while filing the return of income which was rectified through challan on the very date of passing the assessment order. ...

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Protective addition in hands of agents without providing opportunity of being heard is invalid

Mohammad Rajiv Hakeem Vs ITO (ITAT Lucknow)

These two appeals of the same assessee (assessed in the name of different agents) relating to the assess­ment year 2007-08 are directed against separate orders of the Commissioner (Appeals), Bareilly of the even date 27-9-2016 arising out of the order passed under section 144/147 of the Income Tax Act framed by the Income Tax Officer, Wa...

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Mechanical Approval to Assessment order by Addl CIT u/s 153D is bad in law

AAA Paper Marketing Ltd. Vs. ACIT, Central Circle- I (ITAT Lucknow)

1. It is amply clear that in the case in hand the ACIT observed that the mechanical approval had to be accorded as there is hardly any time left for any discussion or consideration much less meaningful discussion including the fact that absolutely no time available for any further inquiry or investigation because of the […]...

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Loans received in earlier Years – Addition u/s 68 Cannot be Made in Present Year

Income Tax officer 3(2) Vs shri kamal raheja (ITAT Lucknow)

ITAT held that No addition can be made u/s 68 in respect of any loan received prior to start of previous year relevant to present assessment year....

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Unexplained investment addition can be made in year of Purchase

Shri Mahesh Chandra Chaurasia Vs D.C.I.T. (ITAT Lucknow)

If period of holding is >1yr then it is LTCG & Exempt & Assessing Officer can make addition in the year of purchase if unexplained but no addition can be made in the present year/year of assessment....

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Revision cannot be done on Mere different conclusion of CIT

M/s Juhi Alloys Pvt. Ltd. Vs CIT (ITAT Lucknow)

ITAT Lucknow held in the case of M/s Juhi Alloys Pvt. Ltd. vs. CIT that since enquiry was made by the Assessing Officer on all the points on which objection had been raised by CIT in the notice issued by him u/s 263, this is not a case of lack of enquiry by the Assessing Officer or lack of application of mind by the Assessing Officer beca...

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Interest subsidy for repayment of loan acquired for acquisition of capital assets, is capital receipts

DCIT Vs M/s J.K. Cement Ltd. (ITAT Lucknow)

ITAT Lucknow held in the case DCIT vs. M/s J.K. Cement Ltd. that certain conditions are made in the subsidy scheme, which is required to be fulfilled by the corporate sector in order to avail the benefit of subsidy....

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Sec 10A – Deduction allowed to new unit being independent unit, physical demarcation with old unit not relevant

DCIT Vs M/s E-Soft Technologies Ltd. (ITAT Lucknow)

ITAT Lucknow held in the case of DCIT vs. M/s E-Soft Technologies Ltd. that as per the CBDT Circular No. 01 of 2013 and as per the Tribunal decision of the Pune Bench in the case of ACIT Vs Symantec Software India P. Ltd in ITA No. 787/PN/09, dated 30th November 2011...

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Validity of Notice via post for delivery, posted on last day of Limitation Period & Notice by affixture

ITO Vs Shri Rajesh Agarwal (ITAT Lucknow)

ITAT Lucknow held In the case of ITO vs. Shri Rajesh Agarwal that undisputedly notice of hearing under section 143(2) was issued on the last day of limitation/prescribed period for issuance of notice i.e. on 30.9.2011 at 15.19 hours by speed post....

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