Tag Archives: ITAT Judgments

No Penalty as Show Cause Notice issued in Casual manner : ITAT

By | May 6, 2019

A bare reading of the above notice suggests that the notice has been issued in a casual fashion. The Assessing officer has not applied his mind and no specific charge is mentioned for which the assessee was required to be show caused. In absence of the requisite contents of specific charge the initiation of proceedings… Read More »

Exemption U/s. 54F allowed even if investment in mutual fund made prior to purchase of residential house : ITAT

By | April 20, 2019

Held :- In our view deposit of money by the assessee inter-alia in mutual fund prior to purchase of residential house albeit will not make any difference if the assessee had purchased the residential house within the time provided by the Act ACIT Vs Shri. Sunil Bandacharya Joshi (ITAT Bengaluru) Appeal Number : ITA No.… Read More »

No Addition of Income on property transfer as Power of Attorney holder : ITAT

By | April 20, 2019

Mere recovery of POA from the possession of the assessee is not enough to estimate income against the assessee. The law is clear that POA is meant for doing the certain acts on behalf of the principal. It is also subject-matter of cancellation. Only certain acts which have been authorised by the POA could be… Read More »

No disallowance if TDS not deducted on Freight charges and payee shown income in ITR : ITAT

By | April 19, 2019

ITAT Kolkata Modern Impex Vs Assistant Commissioner of Income-tax   I.T.A. No. 755/Kol/2018 Date of Judgement : 27/03/2019 Related Assessment Year : 2012-13 FULL TEXT OF THE ITAT JUDGEMENT This is an appeal preferred by the assessee against the order of Ld. CIT(A)-9, Kolkata dated 23.03.2018 for AY 2012-13. 2. Ground nos. 1 and 6 are general… Read More »

Delay in filing Appeal due to fault of CA condoned : ITAT

By | April 19, 2019

From time to time assessee was in touch with his CA, however, on 27.05.2018 when the assessee visited the office of the CA, he was informed that CA has expressed his inability to file the second appeal as he was not much conversant with the Tribunal matters. Thereafter, the assessee took steps and engaged different… Read More »

CIT(A) cannot permit an assessee to withdraw an appeal or dismiss without deciding it on merit : ITAT

By | April 18, 2019

ITAT Mumbai Ms Deekay Gears Vs ACIT  ITA No. 2366/Mum./2018 Date of Judgement: 16/01/2019 Related Assessment Year : 2009-10 Aforesaid appeal has been filed by the assessee challenging the order dated 21stSeptember 2017, passed by the learned Commissioner (Appeals)-40, Mumbai, pertaining to assessment year 2009-10. 2. There is a delay of 116 days in filing… Read More »

No TDS U/s. 195 on commission paid to USA based payee for services rendered outside India : ITAT

By | April 18, 2019

Non-resident company which did not have any permanent establishment India and the services by the said company was rendered outside India and such no services was rendered or no activity was performed in India   section 195 of the Act comes into play only if the concerned recipient’s income is chargeable to tax in India.… Read More »

No Addition for Jewellery if declared in Revised return and purchase bills available : ITAT

By | April 18, 2019

ITAT Jaipur Bithal Dass Mundra Vs  DCIT   ITA No. 433/JP/2018 Date of Judgement: 20/12/2018 Related Assessment Year : 2014-15 This appeal by the assessee is directed against the order dated 01/02/2018 of ld. CIT(A)-IV, Jaipur for the A.Y. 2014-15. The assessee has raised following grounds of appeal: “1. That under the facts and circumstances of the case… Read More »

Sec. 54 deduction allowed on purchase of flats even if investment is not from sale proceeds : ITAT

By | April 18, 2019

 we do not find any restriction/condition imposed mandating investment of the capital gain/sale proceeds towards purchase of new house for claiming deduction under section 54 of the Act. What the provision postulates is, for claiming deduction the assessee has to make investment in purchase of a new house one year before or two years after… Read More »

Depreciation claimed in revised return cannot be denied because of non-claim in original return : ITAT

By | April 17, 2019

The assessee has duly filed the return u/s. 139(1) within the due date. Thereafter, the assessee claimed the depreciation on goodwill in the revised return u/s. 139(5) which was filed on time. This claim of deprecation in the revised return cannot be denied solely on the ground that it was not claimed in the original… Read More »