CA Prarthana Jalan

Assessee cannot be considered as having done willful neglect for non-compliance of the TDS provisions. This is just a technical mistake and, accordingly, the assessee cannot be held to be an assessee in default and no penalty can be imposed....

Hon'ble Allahabad High court has in the case of M/S Simbhauli Sugar Mills Ltd in ITA No 607 of 2011 has held that amendment is sec 43B is curative in nature and would apply retrospectively....

Delhi ITAT has in the case of Krishan Kumar v/s ITO in ITA No. 3985/Del/2017 has quashed the reassessment proceedings as there was no nexus between reasons recorded and addition made. ...

Agra ITAT has remitted the file back to the CIT(Appeals) as CIT (Appeals) had just sustained Assessing Officer's order without himself discussing or deciding the merits of the case....

Allahabad HC in case of Ashok Auto Sales Ltd v/s CIT held that Vector shipping is not correct preposition of law as held by Honb'le SC in case of M/s Palam Gas Service vs. CIT....

Making purchases through the grey market gives the assessee savings on account of non-payment of tax and others at the expense of the exchequer. In such situation, in our considered opinion, on the facts and circumstances of the case, 12.5% disallowance out of the bogus purchases meets the end of justice. Accordingly, I hold that the disa...

Hon'ble Allahabad High Court has in the case of Hariom Steels Pvt Ltd has held that penalty cannot be levied when deeming provisions are applied for assessing income....

No disallowance can be made under Section 40A(2) (b) read with Section 36 of the Income Tax Act of interest paid on borrowed funds for trade advance given out of commercial expediency to sister concerns....

Mere receipt of information from any source would not by itself tantamount to reason to believe that income chargeable to tax has escaped assessment. In the present case the Assessing Officer prima facie has not done the bare necessary/rudimentary enquiry into the material received before he concludes that income chargeable to tax has esc...

Hon'ble Delhi ITAT held that Penalty can be imposed only on disproved claim of expenditure and not unproved claim of expenditure....