CA Amit Handa

Reassessment u/s 148 quashed, on issue of notice without valid jurisdiction

Income Tax - The reliance has been placed on the decision of Hon’ble Allahabad High Court in the case of CIT Vs. M/s MT Builders Pvt. Ltd., (2012) 349 R 271 (All.) that the notice issued by an Officer who had no valid jurisdiction over the assessee is invalid. Accordingly, The notice under Section 148 of the Act issued by the Income Tax Officer...

Read More

Cash advance not claimed as deduction cannot be disallowed u/s 40A (3)

Income Tax - The assessee company is engaged in real estate business. It paid cash advance for purchasing a plot and reflected it in balance sheet under loans and advances given. The AO made addition of 20 % of amount paid as advance, invoking the provisions of Section 40A(3) of the Income Tax Act, 1961. ...

Read More
Sorry No Post Found

Disallowance u/s 40A(2) of Commission paid to relatives cannot be made without proper enquiry

ACIT Vs Sh. Saurabh Batra (ITAT Delhi) - AO made the disallowance by invoking the provisions of section 40A(2) of the Act, however nothing was brought on record on the basis of the comparative analysis to substantiate that the commission paid to the related parties was higher than the commission paid to unrelated parties....

Read More

Validity of Reassessment based on Audit Report/Balance Sheet Submitted during Original Assessment

ACIT Vs Super Cassettes Industries Ltd.  (ITAT Delhi) - The reopening has basically been done for two reasons – the first one being the alleged difference between Unsecured Loans from Directors in the Balance Sheet and Unsecured Loans from Directors in Audit Report under Form 3CD; and the second one...

Read More

Assessment initiated and framed in name of deceased is void

Income Tax Officer Vs Late Sh. Som Nath Malhotra, Through Smt. Raj Rani Malhotra ( ITAT Delhi) - In the present case also the notice u/s 148 of the Act was issued on 31.03.2010 in the name of the deceased assessee and claimed to have been served upon the deceased assessee who had already expired on 06.12.2002. ...

Read More

Services of development of agricultural land for housing project not covered in agricultural services

M/s NGK Infrastructure Ltd. Vs. C.C.E.&S.T. (CESTAT Delhi) - Tribunal held that the service provided by appellant was not in relation to agriculture. Further appellant’s claim that service provided by it are eligible for exemption under notification no. 17/2005-ST, dated 07.06.2005...

Read More

Service tax SCN, that fails to identify specific taxable service is liable to be Quashed

M/s Shubham Electricals Vs CST & ST, Rohtak (CESTAT Delhi) - In the entirety of the show cause notice there is not a single assertion proposing to levy and collect service tax on the basis of any specified taxable services allegedly rendered by the appellant except the several alternative taxable services speculated to have been provided. ...

Read More
Sorry No Post Found

Recent Posts in "CA Amit Handa"

Disallowance u/s 40A(2) of Commission paid to relatives cannot be made without proper enquiry

ACIT Vs Sh. Saurabh Batra (ITAT Delhi)

AO made the disallowance by invoking the provisions of section 40A(2) of the Act, however nothing was brought on record on the basis of the comparative analysis to substantiate that the commission paid to the related parties was higher than the commission paid to unrelated parties....

Read More

Validity of Reassessment based on Audit Report/Balance Sheet Submitted during Original Assessment

ACIT Vs Super Cassettes Industries Ltd.  (ITAT Delhi)

The reopening has basically been done for two reasons – the first one being the alleged difference between Unsecured Loans from Directors in the Balance Sheet and Unsecured Loans from Directors in Audit Report under Form 3CD; and the second one...

Read More

Assessment initiated and framed in name of deceased is void

Income Tax Officer Vs Late Sh. Som Nath Malhotra, Through Smt. Raj Rani Malhotra ( ITAT Delhi)

In the present case also the notice u/s 148 of the Act was issued on 31.03.2010 in the name of the deceased assessee and claimed to have been served upon the deceased assessee who had already expired on 06.12.2002. ...

Read More

Services of development of agricultural land for housing project not covered in agricultural services

M/s NGK Infrastructure Ltd. Vs. C.C.E.&S.T. (CESTAT Delhi)

Tribunal held that the service provided by appellant was not in relation to agriculture. Further appellant’s claim that service provided by it are eligible for exemption under notification no. 17/2005-ST, dated 07.06.2005...

Read More

Service tax SCN, that fails to identify specific taxable service is liable to be Quashed

M/s Shubham Electricals Vs CST & ST, Rohtak (CESTAT Delhi)

In the entirety of the show cause notice there is not a single assertion proposing to levy and collect service tax on the basis of any specified taxable services allegedly rendered by the appellant except the several alternative taxable services speculated to have been provided. ...

Read More

Penalty cannot be imposed on preponderance of probabilities

Sh. Jagjit Singh Vs. ITO (ITAT Chandigarh)

It is well settled that the parameters of judging the justification for addition made in the assessment case of the assessee is different from the penalty imposed on account of concealment of income or filing of inaccurate particulars of income and that certain disallowance/addition could legally be made in the assessment...

Read More

Revenue can’t file appeal to ITAT, if tax not exceeds Rs 4,00,000/-

Income-tax Officer Vs Shri Om Prakash (ITAT Delhi)

Assessing officer has made few additions in his assessment order which were later on deleted by the CIT (A) on merits. Revenue preferred an appeal to the Tribunal against an order of CIT(A). However in this case the tax effect was less than Rs 4 lacs. ...

Read More

Loan foreclosure charges are eligible for deduction u/s 24(b)

Subha Singhvi Vs ACIT (ITAT Delhi)

1. The assessee is an individual, who earned rental income from certain properties and claimed deduction for interest on loan paid by the assessee as interest u/s 24(b)of the Income Tax Act, 1961. 2. The A.O., on perusal of interest certificate given by the bank, noticed that out the total interest of Rs. 29,89,223/-...

Read More

Reassessment u/s 148 quashed, on issue of notice without valid jurisdiction

Mukesh Kumar Vs ITO (ITAT Delhi)

The reliance has been placed on the decision of Hon’ble Allahabad High Court in the case of CIT Vs. M/s MT Builders Pvt. Ltd., (2012) 349 R 271 (All.) that the notice issued by an Officer who had no valid jurisdiction over the assessee is invalid. Accordingly, The notice under Section 148 of the Act issued by the Income Tax Officer...

Read More

Marketing & liasoning services can’t be equated with advisory services for ALP adjustment

M/s Deutsche Asset Management (India) Pvt. Ltd. Vs DCIT (ITAT Mumbai)

The Tribunal, in assessment year 2006-07, in the assessee’s own case and on identical facts/ circumstances, has given a clear finding that the fee received by the assessee for providing marketing and liasioning services cannot be equated with the advisory services given to an investment manager. ...

Read More
Page 1 of 3123

Browse All Categories

CA, CS, CMA (3,480)
Company Law (3,398)
Custom Duty (6,603)
DGFT (3,446)
Excise Duty (4,043)
Fema / RBI (3,249)
Finance (3,454)
Income Tax (25,014)
SEBI (2,733)
Service Tax (3,280)

Search Posts by Date

September 2017
M T W T F S S
« Aug    
 123
45678910
11121314151617
18192021222324
252627282930