section 143(3) - Page 10

ITAT Declares Assessment Void Due to Non-Existent Entity

Rahil Marketing Pvt. Ltd. Vs DCIT (ITAT Ahmedabad)

In a significant ruling, ITAT Ahmedabad declares an assessment order void, passed in the name of a non-existent entity after a court-approved amalgamation....

Deduction u/s 54F not eligible as flats not hold for minimum period of 3 years

Smt. Madhu Devi Jain Vs ITO (ITAT Hyderabad)

ITAT Hyderabad held that claim of deduction under section 54F of the Income Tax Act not available as the flats sold are not hold for a minimum period of 3 years....

Addition u/s 68 towards unexplained cash credit unjustified as source of cash deposit proved

ITO Vs Ashapura Petrochem Marketing Pvt. Ltd (ITAT Ahmedabad)

ITAT Ahmedabad held that addition under section 68 of the Income Tax Act towards unexplained cash credit unjustified as source of cash deposit on account of sale of petrol, diesel and other petroleum products duly proved....

Subsidy from Government under Focus Market Scheme is revenue receipt

Hyundai Motor India Ltd. Vs ACIT (ITAT Chennai)

ITAT Chennai held that subsidy received from Government of India under the Focus Market Scheme is Revenue in nature. The same cannot be at any stretch of imagination considered as capital in nature....

No addition on account of royalty in absence of technical knowledge, skill in terms of Article 12(4)(b) of India-Singapore DTAA

HP Services [Singapore] PTE Ltd Vs DCIT (ITAT Delhi)

Receipts from providing information technology related support services could not be considered as royalty and/fees for technical services as while running the services, assessee had not made available any technical knowledge, experience, skill in terms of Article 12(4)(b) of the DTAA and as such, receipts in question were not FTS liable ...

Exclusion of period taken for handing over seized material to AO effective only from 01.04.2021

Agni Estates and Foundations Private Limited Vs DCIT (Madras High Court)

Madras High Court held that clause (xi) to Explanation to Section 153B of the Income Tax Act relating to the exclusion of the period taken for handing over seized material to the assessing officer is effective prospectively from 01.04.2021. Accordingly, prior assessment years are held to be barred by limitation....

Addition u/s 153A in amalgamated company relating to entries in books of amalgamating company prior to amalgamation unjustified

Citygold Education Research Limited Vs DCIT (ITAT Mumbai)

Held that the entries in the books of account of amalgamating companies prior to amalgamation cannot be part of the additions made under section 153A in the hands of the assessee (i.e. amalgamated company). Accordingly, additions deleted....

No addition u/s 41 for opening balance of trade payables in absence of verification of parties

ACIT Vs Delmos Aviation Pvt. Ltd. (ITAT Delhi)

AO without bringing any material or reasons before making any addition, simply added back the opening balances of the trade payables without making any verification from the parties and he had failed to discharge the preliminary onus and had made the addition in summary manners, therefore, CIT(A) had committed no error in deleting the add...

Interest u/s 234B of the Income Tax Act chargeable on assessed income and not returned income

PCIT Vs Manoj Kapoor (Jharkhand High Court)

Jharkhand High Court held that interest under Section 234B of the Income Tax Act has to be charged on the assessed income and not on the returned income of an Assessee....

ITAT Pune Upholds Non-Applicability of Section 2(47) for Delayed Possession

ITO Vs Kapurba and Company (ITAT Pune)

ITAT Pune case: Delayed possession and unresolved disputes led to non-applicability of Section 2(47), sparing the taxpayer from capital gains tax. Learn more....

Browse All Categories

CA, CS, CMA (6,763)
Company Law (9,802)
Corporate Law (13,020)
Custom Duty (10,576)
DGFT (5,113)
Excise Duty (5,580)
Fema / RBI (5,653)
Finance (6,358)
Income Tax (48,805)
SEBI (5,247)
Service Tax (4,846)