Courts: ITAT Pune
Find latest ITAT Pune judgments, orders and case laws on income tax covering assessments, deductions, transfer pricing, capital gains, TDS, reassessment and penalties.
Addition made on account of third party evidence without establishing identity of Assessee not valid
TP: Lower turnover cannot be sole basis for exclusion
No Penalty could be levied u/s 271(1)(c) if only advance is received and no actual sale is made
Lesser of loss brought forward or unabsorbed depreciation shall be reduced from net profit in computation of book profit- S. 115JB
Sec. 271AAA-No penalty where demand paid before penalty order
WIP Valuation on receipt basis forbidden in mercantile accounting
Exemption u/s 10 (23C)(iiiab) cannot be denied merely on the basis of contradictory statements of few donors
Orders passed U/s. 201(1)/201(1A) should comply by time limit prescribed under proviso to section 201(3)
Penalty u/s 271(1)(c) in search assessment is tenable only if some incriminating material found during search
Peak credit theory for addition to income is applicable when deposit in bank account is out of cash withdrawals
Expense/Liability not allowable based on mere debit note, unless genuineness is established
Penalty u/s 271(1)(C) can’t be levied in succeeding year if on similar/ identical disallowance, no penalty was levied in preceding year
Books cannot be rejected when PAN mentioned and TDS was deducted
Interest u/s 234C is to be levied on Assessed or Returned income whichever is less
ITAT Pune judgments and orders cover a broad range of income-tax controversies involving individuals, businesses and corporate taxpayers. This TaxGuru page compiles decisions relating to assessments, additions, deductions, exemptions, business income, capital gains, transfer pricing, international taxation, TDS, reassessment, unexplained income, penalties and procedural issues. Chartered Accountants, advocates, companies and other tax professionals can use this collection to research ITAT Pune precedents and follow developments in direct tax jurisprudence. The page includes recent and significant earlier Tribunal decisions published on TaxGuru for convenient income-tax case-law research.
