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Imposition of Income tax Addition is not Justified when Additional Amount towards Purchase of Land is made by other Two Co-owners : ITAT Condones Delay of 1494 Days [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal held that the additional amount paid in cash on money was admittedly paid by the other two-owners and not by the assessee, thus the Assessing...

Imposition of Income tax Addition is not Justified when Additional Amount towards Purchase of Land is made by other Two Co-owners : ITAT Condones Delay of 1494 Days [Read Order]
Ipsita Das

AO has no Power to Reopen Assessment when an Order is passed by Income Tax Settlement Commission u/s 245D of Income Tax Act: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer has no power to reopen the assessment when an order is passed by the Income Tax Settlement Commission...

AO has no Power to Reopen Assessment when an Order is passed by Income Tax Settlement Commission u/s 245D of Income Tax Act: ITAT [Read Order]
Sunayana Dhal

Deletion of Disallowance of Expenditure on Education u/s 37 of Income Tax Act is justified as Assessee Furnished Detailed Information Related to Education fees of Director: ITAT Dismisses Revenue Appeal

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the deletion of the disallowance of Education Expenditure under Section 37 of the Income Tax Act,1961 is justified because the...

Deletion of Disallowance of Expenditure on Education u/s 37 of Income Tax Act is justified as Assessee Furnished Detailed Information Related to Education fees of Director: ITAT Dismisses Revenue Appeal
Ipsita Das

Bonafide Mistake in Computing Income Tax is not Furnishing Inaccurate Particulars or Concealment of Income : ITAT Deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that the standard belief or mistake in computing income tax cannot be termed as furnishing of inaccurate particulars or concealment of...

Bonafide Mistake in Computing Income Tax is not Furnishing Inaccurate Particulars or Concealment of Income : ITAT Deletes Penalty u/s 271(1)(c) of Income Tax Act [Read Order]
Ipsita Das

Partial Acceptance of Expenses claimed Implies Expenses are Related to Business Activities of Assessee : ITAT Deletes Disallowance on Vehicle, Telephone and Salary expenses [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) held that 1/3rd disallowance of the said expenses and accepted the remaining expenses implies partially admission that the assessee has...

Partial Acceptance of Expenses claimed Implies Expenses are Related to Business Activities of Assessee : ITAT Deletes Disallowance on Vehicle, Telephone and Salary expenses [Read Order]
Ipsita Das

Freight Inward charges were part and parcel of Purchase of Goods: ITAT deletes disallowance u/s 40(a)(ia) of Income Tax Act on non deduction of TDS [Read Order]

The Income Tax Appellate Tribunal (ITAT) Ahmedabad bench held that freight inward charges was part and parcel of the purchase of goods. Therefore, the bench deleted the disallowance made under...

Freight Inward charges were part and parcel of Purchase of Goods: ITAT deletes disallowance u/s 40(a)(ia) of Income Tax Act on non deduction of TDS [Read Order]
Aparna. M

AO can't impose an Addition without mentioning any Provision of Statute: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) held that the Assessing Officer cannot impose an addition without mentioning any provision of the statute. As per the information...

AO cant impose an Addition without mentioning any Provision of Statute: ITAT [Read Order]
Sunayana Dhal

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