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Application for Compounding Offences u/s 276C(1) and 277 of Income Tax Act Rejected on Non-Filing of Complete Bank Statement: Delhi HC directs to Consider Application [Read Order]

Yogitha S. Yogesh

The Delhi High Court directed to consider the application for compounding offences under sections 276C(1) and 277 of the Income Tax Act, 1961 which...

AO refused to Consider Bank Statement and DMAT account of Assesee: Delhi HC Sets aside Reassessment...

Documentation of Files without any Explanation to adverse observation in respect of Bank Statements:...

Mere Furnishing of Income Tax Returns and Bank Statements without any Explanation for Deposits not...

Assessee failed to furnish Bank Statement before AO: Delhi HC remands Reassessment Proceedings...

Genuineness and Creditworthiness of Creditor proven with Bank Statement and Other Evidence, Income Addition u/s 68 not allowable: ITAT

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has held that income addition under section 68 of the Income Tax Act,1961 is not allowable when the genuineness and Creditworthiness...

Deposit of Demonetized Currency proved with the Bank Statement, Addition u/s 69A not sustainable: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad has held that when the deposit on the bank with the demonetized currency during the demonetization period was proved with the bank statement the...

Deduction of Compensation paid for Breach of Contract cannot be allowed based on Bank Statement alone: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune Bench has held that deduction of compensation paid for breach of contract cannot be allowed based on bank statement alone. The assessee, M/s.Home...

No Duty for Computer Stationery, LIC Forms, Bank Statement Forms manufactured as per the requirement of LIC, Banks & Govt department: CESTAT [Read Order]

The Central Excise and Service Tax Appellate Tribunal(CESTAT), Mumbai held that no duty for computer stationery, LIC forms, bank statement forms manufactured as per the requirement of LIC, banks and...

ITAT Quashes Re-Assessment based on Wrong Facts [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the re-assessment under section 147/ 148 of the Income Tax Act, 1961 cannot be held as valid as it was based on wrong facts. ...