Income Tax Judgements

ITAT: Mere disallowance of expenditure can never result into penalty under Section 271(1) (c) of the IT Act

Guest 23 July 2021 at 15:21

This appeal is filed by the revenue against the order of Ld. Commissioner of Income Tax (Appeals)–5, New Delhi, dated 16.01.2017, for assessment year 2013-14, confirming the penalty levied of Rs. 50,540/- by the Dy. Commissioner of Income Tax, Circle

Posted in Income Tax | 178 Views

When is penalty not levied u/s 27l(l)(c) of the Income Tax Act?

Guest 23 July 2021 at 15:20

This appeal is preferred by the Department against order dated 20.06.2017 passed by the Learned Commissioner of IncomeTax (Appeals)-36, New Delhi {CIT(A)} for Assessment Year 2012-13.The sole issue under challenge is deletion of penalty of Rs.87,94,

Posted in Income Tax | 105 Views

ITAT: Once notice u/s 153(3) is issued to the assessee then it is incumbent upon the assessee to file the return of income

Guest 23 July 2021 at 15:20

The present appeals have been filed by the assessee against the orders of ld. CIT (A)-35, New Delhi dated 03.02.2017.

Posted in Income Tax | 124 Views

When is addition beyond the scope of section 153A of the Income Tax Act?

Guest 23 July 2021 at 15:20

The present appeals have been filed by the revenue against the orders of ld. CIT (A)-27, New Delhi dated 24.11.2017.

Posted in Income Tax | 127 Views

Disallowance u/s 14A r.w.r. 8D in respect of exempted income

Guest 23 July 2021 at 15:20

ITA No.781/Del/2018 and ITA 1208/Del/2018 are cross appeals by the assessee and revenue preferred against the order of the CIT(A)-7, New Delhi dated 05.12.2017 pertaining to A.Y. 2013-14.

Posted in Income Tax | 100 Views

Is AO justified in deleting addition on account of corpus fund without routing the income through the profit and loss account?

Guest 23 July 2021 at 15:20

The present appeal has been filed by the revenue against the order of ld. CIT(A)-32 , New Delhi dated 26 .10.2017.

Posted in Income Tax | 126 Views

Delegation of certain formalities to another entity would not disentitle developer from the deductions under IT Act

Bimal Jain 23 July 2021 at 09:13

In DCIT v. Sahara India SahkariAwas [ITA Nos.2481 & 2482/Del/2011 and CO Nos.221 & 222/Del/2011 decided on July 19, 2021] Sahara India SahkariAwas ('the Respondent'), a cooperative society of Sahara India group and is engaged in the business of devel

Posted in Income Tax | 103 Views

Credit for TDS will be given in the Assessment Year for which such income is assessable, clarifies ITAT

Guest 22 July 2021 at 10:56

This is an appeal by the Revenue against the order dated 30.01.2013 of CIT(Appeals)-III, Bengaluru, relating to Assessment Year 2007-08.

Posted in Income Tax | 134 Views

Transfer pricing adjustment in respect of the provision of software development services

Guest 22 July 2021 at 10:56

The assessee has filed this appeal challenging the assessment order dated 7.7.2017 passed by the Assessing Officer for assessment year 2013-14 u/s 143(3) r.w.s 144C of the Act in pursuance of directions given by Ld. Dispute Resolution Panel (DRP).

Posted in Income Tax | 254 Views