Income Tax Judgements

It is ambitious to expect the work bills, confirmations from the goldsmiths for their work, since payment were not suspected, there is no reason to apply the provisions of section 194C and the 40(a)(ia) of the Act.

Guest 20 January 2021 at 17:56

This appeal is filed by the assessee against the order of the Commissioner of Income Tax (Appeals) [CIT(A)], Vijayawada in Appeal No.10149/CIT(A)/VJA/2019-20 dated 30.07.2020 for the Assessment Year (A.Y.) 2010-11.

Posted in Income Tax | 121 Views

ITAT has upheld the order of CIT(A) citing that AO is not permitted to make the addition without rejecting the books of account

Guest 20 January 2021 at 17:56

These appeals by the Revenue and the cross objections by the assessee are directed against the separate orders of Commissioner of Income Tax (Appeals)-3,Visakhapatnam,both dated 30/06/2020 for the Assessment Years2016-17& 2017-18. Since facts and the

Posted in Income Tax | 137 Views

Estimation of income without having any seized material or any material having corroborating evidence is bad in law

Guest 20 January 2021 at 17:56

These appeals by the Revenue and the cross objections by the assessee are directed against the separate orders of Commissioner of Income Tax (Appeals)-3, Visakhapatnam, both dated 30/06/2020 for the Assessment Years 2016-17 & 2017-18. Since facts and

Posted in Income Tax | 128 Views

Addition made solely on the basis of statement recorded u/s 132(4) without having corroborating evidence is unsustainable.

Guest 20 January 2021 at 17:56

These appeals are filed by the revenue against the orders of the Commissioner of Income Tax (Appeals)-3, Visakhapatnam in Appeal Nos.314 to 318 /2019-20/CIT(A)-3/VSP/2020-21 dated 31.07.2020 for the Assessment Year (A.Y.)2013-14 to 2017-18. The appea

Posted in Income Tax | 122 Views

AO is not permitted to make the addition u/s 153A without having seized material.

Guest 20 January 2021 at 17:56

These appeals are filed by the revenue against the orders of the Commissioner of Income Tax (Appeals)-3, Visakhapatnam in Appeal No.312 & 313/2019-20/CIT(A)-3/VSP/2020-21 dated 27.07.2020 for the Assessment Years (A.Y.) 2011-12 & 2012-13, Appeal No.3

Posted in Income Tax | 128 Views

Gail(india) Ltd has opted to settle the pending dipsutes under Vivad Se Vishwas Scheme, and Accordingly withdraws its appeals before ITAT.

Guest 20 January 2021 at 12:36

These appeals are filed by the assessee as well as by theRevenue against the respective orders of Learned CIT(A), for the Assessment Years 2003-04 to 2007-08 respectively.

Posted in Income Tax | 183 Views

Unregistered Collaboration agreement will not qualify for "tranfer" of capital asset u/s 2(47)(v) for charging capital gains under Income Tax Act,1961.

Guest 20 January 2021 at 12:36

This appeal is filed by the assessee against the order of the ld. CIT (Appeals)-32, New Delhi, for the Assessment Year 2007-08 dated 09th December, 2016.

Posted in Income Tax | 189 Views

M/s Conquest Softech pvt ltd opted to settle the dispute through Vivad Se Vishwas Scheme

Guest 20 January 2021 at 12:36

The assessee has filed the present appeal against the impugned order dated 27.01.2017 passed by learned CIT(A), New Delhi relating to the assessment year 2007-08.

Posted in Income Tax | 117 Views

Appeal stands dismissed as Bharat Bhushan Handa wishes to settle the dispute through Vivad Se Vishwas Scheme.

Guest 20 January 2021 at 12:35

This appeal by Assessee is filed against the order of Learned Commissioner of Income Tax (Appeals)-17, New Delhi, [“Ld. CIT(A)”, for short], dated 29.09.2017 for Assessment Year 2014-15. Grounds taken in this appeal of Assessee are as under:

Posted in Income Tax | 92 Views