CA Prarthana Jalan

Fees Recovery Committee/Forums- Need of The Hour?

Income Tax - We all as dignified professional, with utmost sincerity and perseverance do discharge our professional duties. We have commanded our fields and we do perform our duty to the best of our efforts, but somehow I feel, that our fraternity fails to collect the professional fees which is our legitimate right....

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“Sudoku”- The Puzzle of Life

Income Tax - Sudoku is a Japanese game which is a logic-based, number-placement puzzle. In this game one has to fill a 9×9 grid with digits so that each column, each row, and each of the nine 3×3 subgrids all contains the digits from 1 to 9. The puzzle setter provides a partially completed grid, which has to be completely filled....

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Take flight of your dreams: Happy Women's day

Income Tax - Our CA Profession is also not deprived of this gender discrimination. We have girls in huge numbers joining the course and also completing the course with flying colours but the number of girls or Female CA that join the main stream profession are very less in numbers. ...

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234E Fee deleted in the absent of the enabling provisions u/s 200A

Income Tax - The Hon'ble Amritsar bench has given a landmark judgement on the issue of 234E Fee levied prior to June,2015 in the case of Sibia Healthcare Private Limited v./s Dy. Commissioner of Income-tax (TDS), in I.T.A. No.90/Asr/2015 and has deleted the addition-...

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35 Pre-Budget suggestions by CA Prarthana Jalan

Income Tax - 1. Tax Slabs should be revised as per the DTC Bill Provisions The Parliamentary Standing Committee on Finance (PSC) in its Report on the Direct Taxes Code Bill 2010 (DTC Bill) has appropriately recommended the following revised tax slabs for individual taxpayers. 0-3 Lakh – Nil GST Certification Course on Pen-Drive by TaxGuru & GST [&he...

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Penalty U/s. 271C cannot be imposed for updation error in software

State Bank of India Vs. Addl. CIT-(TDS) (ITAT Agra) - 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....

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Amendment in sec 43B is curative in nature and applies retrospectively

M/s. Simbhauli Sugar Mills Ltd. Vs. Addl. CIT (Allahabad High court) - 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....

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Re-assessment proceedings quashed as there was no nexus between reasons recorded and addition made

Krishan Kumar Vs. ITO (ITAT Delhi) - 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. ...

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CIT (A) should discuss or decide merits of case even in ex- parte decision

Pramod Kumar Pathak Vs. ITO (ITAT Agra) - 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....

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Allahabad High Court also rules that sec 40(a)(ia) is applicable on “Payable”

Ashok Auto Sales Ltd v/s CIT (Allahabad High Court) - 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....

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Recent Posts in "CA Prarthana Jalan"

Penalty U/s. 271C cannot be imposed for updation error in software

State Bank of India Vs. Addl. CIT-(TDS) (ITAT Agra)

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....

Read More

Amendment in sec 43B is curative in nature and applies retrospectively

M/s. Simbhauli Sugar Mills Ltd. Vs. Addl. CIT (Allahabad High court)

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....

Read More

Re-assessment proceedings quashed as there was no nexus between reasons recorded and addition made

Krishan Kumar Vs. ITO (ITAT Delhi)

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. ...

Read More

CIT (A) should discuss or decide merits of case even in ex- parte decision

Pramod Kumar Pathak Vs. ITO (ITAT Agra)

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....

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Allahabad High Court also rules that sec 40(a)(ia) is applicable on “Payable”

Ashok Auto Sales Ltd v/s CIT (Allahabad High Court)

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....

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100% addition on bogus purchases cannot be done without doubting sales

Pravin Thanmal Shah HUF Vs. Asst. CIT(A) (ITAT Mumbai)

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...

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No Penalty- When deeming provisions are applied for assessing income

Pr. CIT Vs. M/S Hariom Steels (P) Ltd. (Allahabad High Court)

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....

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No sec 40A(2)(b) rws 36 disallowance on Trade advance given to sister concern

CIT Vs. M/S Ghari Industries Pvt. Ltd. (Allahabad High Court)

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....

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Mere receipt of information cannot be equated to reason to believe that income has escaped assessment

Piramal Enterprises Ltd. Vs. DCIT (Bombay High Court)

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...

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Penalty only on Disproved claim of expenditure & not unproved

Arun Duggal Vs. DCIT (ITAT Delhi)

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

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