Income Tax Judgements

Rejection or non-entertainment of additional evidence filed under rule 46A is unwarranted and against law, states ITAT

Poojitha Raam 02 October 2021 at 13:16

This appeal is filed by the assessee against the order passed by the ld. CIT(A) dated, 30.11.2018 for A.Y. 2010-11.

Posted in Income Tax | 74 Views

To assume a valid jurisdiction u/s 147 of the Income Tax Act, the AO must form a reason to believe on his own - Clarifies ITAT

mahendra gargieya 02 October 2021 at 13:16

This is the appeal filed by the assessee against the order of the ld. CIT(A), Alwar dated 30/10/2019 for the A.Y. 2008-09

Posted in Income Tax | 84 Views

Taxation of funds received in the form of share premium

mahendra gargieya 29 September 2021 at 16:51

The present appeal has been filed by the assessee against the order of the ld. Pr.CIT, Udaipur dated 11/02/2021 passed U/s 263 of the Income Tax Act, 1961 (in short, the Act) for the A.Y. 2016-17.

Posted in Income Tax | 125 Views

Explanation and evidence w.r.t. cash recoveries made from Sundry Advances

mahendra gargieya 28 September 2021 at 09:39

The impugned order passed by the ld PCIT u/s 263 is accordingly set aside and the order of the Assessing officer is sustained.

Posted in Income Tax | 138 Views

Acceptance of application under Rule 46-A of the Income Tax Act

mahendra gargieya 28 September 2021 at 08:35

This is an appeal filed by the assessee against the order of ld. CIT(A), Ajmer dated 25/01/2016 for the A.Y. 2008-09 in the matter of order passed U/s 143(3) of the Income Tax Act, 1961

Posted in Income Tax | 141 Views

Are stamp duty value and purchase consideration required to be added as income from other sources?

mahendra gargieya 28 September 2021 at 08:35

The present appeal has been filed by the assessee against the order of the ld. Pr.CIT-2, Jaipur dated 28/02/2020 passed U/s 263 of the Income Tax Act, 1961 (in short, the Act) for the A.Y. 2015-16

Posted in Income Tax | 206 Views

Unexplained expenditure which is deemed to be the income of the assessee shall not be allowed as a deduction

Poojitha Raam 23 September 2021 at 15:02

This appeal filed by the Revenue is directed against CIT(A) - 3, Hyderabad’s order dated 09/12/2016 for AY 2008-09 involving proceedings u/s 143(3) r.w.s. 144 of the Income- Tax Act, 1961

Posted in Income Tax | 109 Views

Can amounts actually paid during the year be disallowed u/s 40(a)(ia) of the Income Tax Act?

Poojitha Raam 23 September 2021 at 15:02

This appeal filed by the Assessee is directed against CIT (A) – 6, Hyderabad’s order dated 10/02/2017 involving proceedings u/s 143(3) of the Income- Tax Act, 1961; in short “the Act”, on the following grounds of appeal

Posted in Income Tax | 129 Views

Proceedings u/s 144 r.w.s 153A of the Income Tax Act, 1961

Poojitha Raam 23 September 2021 at 15:01

All these appeals filed by the assessee are directed against CIT(A) - 12, Hyderabad’s separate orders, all dated, 25/02/2021 for AYs 2012-13 to 2018-19 involving proceedings u/s 144 r.w.s 153A of the Income Tax Act, 1961.

Posted in Income Tax | 179 Views

Addition of deemed dividend u/s.2(22)(e) of the Income Tax Act

Poojitha Raam 23 September 2021 at 15:01

These two appeals are filed by the Revenue against the order dated 30/03/2017 passed by CIT(A)-27, New Delhi for assessment year 2006-07 & 2011-12 respectively.

Posted in Income Tax | 116 Views