ITAT Lucknow

No penalty for entering PAN instead of TAN in TDS Challan on account of bona-fide mistake

ITOr Vs M/s Umatech (ITAT Lucknow)

Necessary TDS was deducted and it was deposited in the Government Treasury. All these are on record and only there is a technical error that in the challan PAN number of the assessee is mentioned instead of TAN in the relevant column on account of bona-fide mistake, for which assessee should not be penalized or punished when there is no l...

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No Penalty U/s. 271B if assessee maintained books of account

Mohd. Imtiyaz Khan Prop Vs Income Tax Officer (ITAT Lucknow)

Whether penalty under section 271B of the Act could be levied in a case where the books of account were maintained by the assessee. The Hon'ble jurisdictional High Court in that case held that where no account has been maintained, section 271B does not get attracted and instead recourse under section 271A can be taken. ...

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Registration U/s. 12AA cannot be denied if trust activities are genuine and in consonance with objects of trust or institution

Chokhraj Tulasyan Sarswati Vidya Mandir Inter College Vs. CIT (ITAT Lucknow)

Income Tax Appellate Tribunal, Lucknow bench recently held that the charitable nature of the activities of a society cannot be suspected as the same was within its objects as given in the bye-laws....

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Section 50C not applicable to cold storage building

Laxmi Ice & Cold Storage Vs Income Tax Officer (ITAT Lucknow)

Provisions of section 50C of the Act is not applicable to the cold storage building so to substitute actual sale consideration by deemed sale consideration and the order of the Assessing Officer passed under section 147/143(3) of the Act cannot be a subject matter of section 263. ...

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Registration U/s. 12AA cannot be denied for Non-submission of Form 10B at the time of registration

B.C. Sharma Memorial Society For Education & Social Welfare Vs CIT (ITAT Lucknow)

At the outset, Learned A. R. submitted that assessee is running a school and had been claiming exemption u/s 10(23C)(iii) and now the assessee had applied for registration u/s 12AA which the CIT (Exemptions) has refused relying on the provisions of section 13(1)(c) of the Act....

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Every wrong claim by assessee cannot tantamount to furnishing of wrong particulars

M/s Agrahari Builders Pvt. Ltd. Vs. Dy. C.I.T. (ITAT Lucknow)

The ITAT bench comprising of Accountant Member T. S. Kapoor and Judicial Member Partha Sarathi Chaudhury, held that penalty under Section 271(1)(c) of the Income Tax Act, 1961 would not attract when assessee makes an Ineligible Claim....

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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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