Income Tax Judgements

Can deduction u/s 80P be denied because the assessee has admitted Nominal Members?

Guest 03 August 2021 at 09:57

This is an appeal by the assessee against the order dated 06.01.2020 of CIT(A), Mangaluru, relating to Assessment Year 2016-17.

Posted in Income Tax | 136 Views

Requirement of explanation of every day’s delay in filing the appeal does not mean that a pedantic approach should be taken, says ITAT

Guest 03 August 2021 at 09:56

The assessee filed early hearing petition dated 12.7.2021 seeking early hearing of the appeal. During the course of hearing this petition, we noticed that the issue in dispute is with regard to condonation of delay by the CIT(Appeals) due to which he

Posted in Income Tax | 140 Views

Capital Gain deduction cannot be denied merely on because of non-registration of conveyance deed

Bimal Jain 03 August 2021 at 08:47

In ITO, Ward 32(4), New Delhi v. Smt. Swati Oberoi [ITA No. 4150/Del./2018 decided July 30, 2021], ITO, Ward 32(4), New Delhi ('the Appellant') sought an appeal to set aside the order dated March 23, 2018 ('the Impugned Order') passed by the Commissi

Posted in Income Tax | 119 Views

Interest u/s 234A, 234B, 234C, and 234D of the Income Tax Act, 1961

mahendra gargieya 31 July 2021 at 18:45

Posted in Income Tax | 101 Views

Assessee cannot be saddled with tax liability if tax deducted on his income wasn't deposited by the deductor

Bimal Jain 28 July 2021 at 15:13

In Ashok Kumar B. Chowatia v. Joint Commissioner of Income Tax (TDS), Chennai [W.P. Nos. 31167, 31170, 31172, 31174 of 2018, W.M.P. Nos. 36373, 36376 and 36379, 36380 of 2018 dated April 16, 2021]. Ashok Kumar B. Chowatia ('the Petitioner') challenge

Posted in Income Tax | 235 Views

IT deduction cannot be claimed during re-assessment if not claimed in original assessment proceedings

Bimal Jain 28 July 2021 at 10:39

In GMR Infrastructure Ltd. v. the Deputy Commissioner of Income Tax [ITA No. 1036 of 2017 decided on July 6, 2021] GMR Infrastructure Ltd. ("the Appellant") filed an appeal against order by ITAT, Bangalore w.r.t. to the issue that whether the Appella

Posted in Income Tax | 142 Views

Allowed set off of MAT Credit inclusive of Surcharge, Education Cess

Bimal Jain 26 July 2021 at 14:21

In M/s. Tata Motors Ltd. v. DCIT(LTU)-2 [ITA No. 2397/Mum/2019 decided on June 25, 2021], M/s. Tata Motors Ltd. ('the Appellant') filed an appeal against the order of Commissioner of Income Tax (Appeals)-1, Mumbai ('the Respondent') computing set-off

Posted in Income Tax | 145 Views

Professional and consultancy charges incurred during acquisition of companies cannot be treated as revenue expenses

Bimal Jain 26 July 2021 at 14:19

In M/s. Steer Engineering Pvt. Ltd. v. The Addl. Commissioner of Income Tax [ITA No. 2070/Bang/2018 decided on July 22, 2021], M/s. Steer Engineering Pvt. Ltd. ('the Appellant') acquired the business of two companies namely Concord United Products Pv

Posted in Income Tax | 148 Views

Charitable Society providing hostel facilities to staff and students is integral part of Educational Activities, exemption allowed

Bimal Jain 26 July 2021 at 14:19

In Durga Charitable Society v. JCIT [I.T.A. No. 4440/DEL/2015 decided on July 22, 2021] Durga Charitable Society ('the Appellant') is a Society duly registered under Society Registration Act, 1860 and is engaged in running various educational institu

Posted in Income Tax | 123 Views

Whether an income is to be treated as a business income or income from undisclosed sources u/s 68 of the Income Tax Act?

Guest 24 July 2021 at 10:59

The present appeal has been preferred by the assessee for the assessment year 2015-16 against the order dated 21.06.2019 of the Commissioner of Income Tax(Appeals)-10, Kolkata (hereinafter referred to as the ‘CIT(A)’).

Posted in Income Tax | 124 Views