Merely Making Unsustainable Claim Will Not Amount To Furnishing Of Inaccurate Particulars Of Income: ITAT
1 year, 10 months ago

Merely Making Unsustainable Claim Will Not Amount To Furnishing Of Inaccurate Particulars Of Income: ITAT

Live Law  

The Pune bench of the Income Tax Appellate Tribunal has held that the mere making of a claim, which is not sustainable by the law itself, will not amount to furnishing inaccurate particulars of income.The bench of S.S. Vishwanethra has observed that the appellant cannot be held guilty of furnishing inaccurate particulars of income, and, therefore, the Assessing. The Pune bench of the Income Tax Appellate Tribunal has held that the mere making of a claim, which is not sustainable by the law itself, will not amount to furnishing inaccurate particulars of income. The bench of S.S. Vishwanethra has observed that the appellant cannot be held guilty of furnishing inaccurate particulars of income, and, therefore, the Assessing Officer was not justified in levying a penalty under Section 271 of the Income Tax Act. Following that, the Assessing Officer initiated penalty proceedings and levied a penalty for the disallowance of interest, concluding that the appellant was guilty of concealing inaccurate income particulars.

Income Officer Itat Appellant Assessing Inaccurate Particulars Furnishing Particulars Inaccurate  making  merely  claim  held  income  inaccurate  itat  unsustainable  penalty  furnishing  tribunal  officer  assessing  particulars  appellant

History of this topic

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC
Trending News
1 week, 3 days ago

Assessee Can Confine Settlement Under Direct Tax Vivad Se Vishwas Act To Disputes Which Were Subject Matter Of Its Appeal: Delhi HC

Live Law  

The Delhi High Court has held that under the Direct Tax Vivad Se Vishwas Act, 2020, an Assessee is entitled to confine the settlement of disputes which were subject matter of its appeal, and exclude the disputes which were subject matter of the Revenue's appeal for the same assessment year. It thus allowed a real estate company's plea against the …

'Concealment Of Income' & 'Furnishing Inaccurate Income Particulars' Distinct Grounds For Penalty U/S 271(1)(c) Of IT Act, Can't Be Clubbed: Delhi HC
4 weeks ago

'Concealment Of Income' & 'Furnishing Inaccurate Income Particulars' Distinct Grounds For Penalty U/S 271(1)(c) Of IT Act, Can't Be Clubbed: Delhi HC

Live Law  

The Delhi High Court has made it clear that when the Revenue proposes to impose penalty on an assessee under Section 271 of the Income Tax Act, 1961 for alleged 'concealment of particulars of income' or for 'furnishing inaccurate particulars of income'- it must specify which one of the two charges it seeks to press and the Revenue cannot be …

Income Tax Additions Can't Be Based On Generalised Report By Investigation Wing: ITAT
4 months, 1 week ago

Income Tax Additions Can't Be Based On Generalised Report By Investigation Wing: ITAT

Live Law  

The Mumbai Bench of Income Tax Appellate Tribunal has held that income tax additions cannot be based on the generalized report given by the Investigation wing.The bench of Anikesh Banerjee and B.R. The Mumbai Bench of Income Tax Appellate Tribunal has held that income tax additions cannot be based on the generalized report given by the Investigation wing. The AO …

AO Can't Disregard ITAT's Direction To Re-examine Issue By Referring To CBDT Circular: Delhi High Court
4 months, 3 weeks ago

AO Can't Disregard ITAT's Direction To Re-examine Issue By Referring To CBDT Circular: Delhi High Court

Live Law  

The Delhi High Court has held that the assessing officer cannot disregard the direction of the Income Tax Appellate Tribunal to re-examine the issue by referring to the circular issued by the Central Board of Direct Taxes.The bench of Justice Yashwant Varma and Justice Ravinder Dudeja has observed that since the additional grounds had come to be accepted by the …

ITAT Cases Weekly Round-Up: 16 To 22 June 2024
6 months ago

ITAT Cases Weekly Round-Up: 16 To 22 June 2024

Live Law  

Income Tax Addition On Unaccounted Sales And Purchases Can't Be Solely Based On Loose Slips: ITAT Bangalore Case Title: ITO Versus M/s. Submission Of Form-67 Is Not Mandatory For Availing Foreign Tax Credit: Delhi ITAT Case Title: Suchi Agrawal Versus ITO The Delhi Bench of Income Tax Appellate Tribunal has held that submission of Form-67 is not mandatory for availing …

Unsettled Claims As Well As IBNR Would Amount To Contingent Liabilities; Section 37 Deduction Allowable: Delhi High Court
6 months, 1 week ago

Unsettled Claims As Well As IBNR Would Amount To Contingent Liabilities; Section 37 Deduction Allowable: Delhi High Court

Live Law  

The Delhi High Court has held that the deduction under Section 37 of the Income Tax Act is allowable on unsettled claims as well as Incurred But Not Reported, which would amount to contingent liabilities.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that if the historical trend indicates that a large number of sophisticated goods …

Cash Deposits Made From Assessee's Parents Accumulated Savings And Income From Agricultural Activities; ITAT Deletes Addition
6 months, 2 weeks ago

Cash Deposits Made From Assessee's Parents Accumulated Savings And Income From Agricultural Activities; ITAT Deletes Addition

Live Law  

The Ahmedabad Bench of Income Tax Appellate Tribunal has deleted the addition made by the department as the cash deposits made from the assessee's parents accumulated savings and income from agricultural activities.The bench of Suchitra Kamble and Makarand V. Mahadeokar has observed that when the assessee provides a plausible explanation supported. The Ahmedabad Bench of Income Tax Appellate Tribunal has …

AO Can't Draw An Adverse Inference For Mere Non-Response From Directors To Notices: Calcutta High Court
7 months, 1 week ago

AO Can't Draw An Adverse Inference For Mere Non-Response From Directors To Notices: Calcutta High Court

Live Law  

The Calcutta High Court, while deciding whether the addition made under Section 68 of the Income Tax Act, 1961, was justified or not, held that only because the directors failed to respond to the notices issued, the Assessing Officer could draw an adverse inference.The bench of Chief Justice T.S. The Calcutta High Court, while deciding whether the addition made under …

I-T Authority Fails To Consider Reason For Difference In Sale Consideration & Stamp Duty: Mumbai ITAT Deletes Penalty Levied U/s 270A For Under-Reporting Of Income
7 months, 2 weeks ago

I-T Authority Fails To Consider Reason For Difference In Sale Consideration & Stamp Duty: Mumbai ITAT Deletes Penalty Levied U/s 270A For Under-Reporting Of Income

Live Law  

Noting that neither the Assessing Officer nor the CIT have taken into consideration the explanation offered by the Assessee during the assessment proceedings in relation to the difference in the sale consideration and the stamp duty valuation of immovable property, the Mumbai ITAT deleted the penalty levied u/s 270A of the Income tax Act for under-reporting of income. Accordingly, the …

Income Tax Authority Should Refrain From Over Analysis Which Leads To Paralysis Of Justice: Bombay High Court
7 months, 2 weeks ago

Income Tax Authority Should Refrain From Over Analysis Which Leads To Paralysis Of Justice: Bombay High Court

Live Law  

The Bombay High Court, while setting aside the order of the Income Tax Appellate Tribunal, held that the authority should refrain from overanalyzing, which leads to paralysis of justice.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that the ITAT failed to appreciate the spirit in which the order dated August 23, 2022, was passed by …

Assessee Is Eligible For Credit Of TCS Paid U/S 194Q If There Is No Shortfall In Payment Of TDS: Vishakhapatnam ITAT
7 months, 3 weeks ago

Assessee Is Eligible For Credit Of TCS Paid U/S 194Q If There Is No Shortfall In Payment Of TDS: Vishakhapatnam ITAT

Live Law  

On finding that there is no short fall of TDS and the assessee is eligible to get credit of the entire amount, the Visakhapatnam ITAT directed the AO to grant credit of the entire amount deducted as tax at source u/s. The Bench noted that Kaccha Arahtias turnover includes only the gross commission and not the sales effected on behalf …

Time Barred Appeal Is Not Maintainable In Absence Of Sufficient Cause For Condonation: Vishakhapatnam ITAT
7 months, 3 weeks ago

Time Barred Appeal Is Not Maintainable In Absence Of Sufficient Cause For Condonation: Vishakhapatnam ITAT

Live Law  

On finding that the assessee had neither substantiated his case before the Tribunal or before the CIT, the Visakhapatnam ITAT rejected the condonation and dismissed the appeal filed by the assessee in-limine. The Bench of the ITAT comprising of Duvvuru Rl Reddy and S Balakrishnan observed that “Even though the CIT and the Tribunal has given sufficient time to file …

Penalty Order On Ground Of Misreporting Of Income Not Justified When SCN And Assessment Order Alleged Under-Reporting: ITAT
7 months, 3 weeks ago

Penalty Order On Ground Of Misreporting Of Income Not Justified When SCN And Assessment Order Alleged Under-Reporting: ITAT

Live Law  

The Hyderabad Bench of Income Tax Appellate Tribunal has held that the penalty order on the ground of misreporting of income was not justified when show cause notice and the assessment order alleged under-reporting.The bench of Laliet Kumar has observed that once the assessee himself admitted the fact that there was under-reporting of income, which was also accepted. The Hyderabad …

Taxpayer Must Substantiate Form 26AS Or Form 16 So As To Claim Credit Over TDS: Mumbai ITAT
8 months, 3 weeks ago

Taxpayer Must Substantiate Form 26AS Or Form 16 So As To Claim Credit Over TDS: Mumbai ITAT

Live Law  

While remanding the case back for re-adjudication, the Mumbai ITAT held that the prima facie onus would be upon the Assessee to substantiate its claim of non-granting of TDS credit, by providing relevant documents, such as an appointment letter, salary slips or Form No.16 or bank statements, or any other corroborative evidence/ documents. The Bench of the ITAT comprising of …

AO Fails To Demonstrate Live Link Between Tangible Material & Reason To Believe Escaped Income: Delhi ITAT Quashes Reopening
9 months ago

AO Fails To Demonstrate Live Link Between Tangible Material & Reason To Believe Escaped Income: Delhi ITAT Quashes Reopening

Live Law  

On finding that the requirement of application of mind is missing in the instant case, the Delhi ITAT held that the reassessment made in the section 143 read with section 147 of the Income Tax Act, 1961, is bad in law and hence, the re-assessment order is quashed. The ITAT pointed that there is no independent application of mind by …

Penalty Imposed U/s 271A On Wrongful Consideration Of Facts Merits To Be Deleted: Jaipur ITAT
9 months, 1 week ago

Penalty Imposed U/s 271A On Wrongful Consideration Of Facts Merits To Be Deleted: Jaipur ITAT

Live Law  

On finding that the CIT has not rebutted the contention that the assessee was dealing in share investment and not in the business activities, the Jaipur ITAT deleted the penalty imposed u/s 271A of the Income Tax Act. The Bench comprising of Sandep Gosain and Dr. M. L. Meena observed that, “when the assessee has filed a return on account …

Cash Deposits By Members Of Society During Demonetization Not Verified In Absence Of PAN & KYC: Bangalore ITAT Asks To Reconsider Relief U/s 80P(2)(A)
9 months, 1 week ago

Cash Deposits By Members Of Society During Demonetization Not Verified In Absence Of PAN & KYC: Bangalore ITAT Asks To Reconsider Relief U/s 80P(2)(A)

Live Law  

The Bangalore ITAT set aside the order passed by CIT for providing relief u/s 80P and 115BBE of Income Tax Act, 1961 and redirect the case back to the file of AO for reconsideration of the genuineness of the deposit during demonetization by the assessee. The Bench of the ITAT comprising Madhumita Roy and Chandra Poojari observed that, “the PAN …

Discrepancies In Maintaining KYC Documentation Does Not Constitute Incriminating Material: ITAT Deletes Income Tax Addition
10 months, 2 weeks ago

Discrepancies In Maintaining KYC Documentation Does Not Constitute Incriminating Material: ITAT Deletes Income Tax Addition

Live Law  

The Mumbai Bench of Income Tax Appellate Tribunal has held that income tax addition cannot be made for discrepancies in maintaining KYC documentation, account opening forms, and violation of society bye-laws.The bench of Sandeep Singh Karhail and B.R. The Mumbai Bench of Income Tax Appellate Tribunal has held that income tax addition cannot be made for discrepancies in maintaining KYC …

No Escapement Of Income By Singaporean Entity On Repatriating Rs.203.56 Cr. Arising From Redemption Of NCDs: ITAT
11 months ago

No Escapement Of Income By Singaporean Entity On Repatriating Rs.203.56 Cr. Arising From Redemption Of NCDs: ITAT

Live Law  

The Delhi Bench of Income Tax Appellate Tribunal has held that the Singaporean Entity has not escaped the income on repatriating Rs.203.56 Cr. arising from redemption of non-convertible debentures.The bench of Astha Chandra and B. R. R. Kumar has observed that the Assessing Office has not examined the relevant records before them wherein. The bench of Astha Chandra and B. …

Assessment Invalid On Account Of A Mechanical Non-Speaking Approval Under Section 153D: ITAT
1 year, 3 months ago

Assessment Invalid On Account Of A Mechanical Non-Speaking Approval Under Section 153D: ITAT

Live Law  

The Mumbai Bench of the Income Tax Appellate Tribunal has held that assessment invalid on account of a mechanical non-speaking approval under Section 153D of the Income Tax Act.The bench of Kuldip Singh and S. Rifaur Rahman has observed that the assessing officer has passed a draft assessment order making huge additions, and such huge additions. The Mumbai Bench of …

Income Tax Act; Mere Uploading Of Notice On Assessee’s E-Portal Is Not Proper Service: ITAT
1 year, 3 months ago

Income Tax Act; Mere Uploading Of Notice On Assessee’s E-Portal Is Not Proper Service: ITAT

Live Law  

The Chandigarh Bench of the Income Tax Appellate Tribunal has held that mere uploading of notice on the assessee’s e-Portal of the Income Tax Department is not proper service as per the Income Tax Act.The bench of Sanjay Garg and Vikram Singh Yadav has observed that service of notice on the portal alone without compliance with Section 282 of. The …

Supreme Court Stays Criminal Proceedings Against DMK MP Kathir Anand Initiated By Income Tax Department
1 year, 4 months ago

Supreme Court Stays Criminal Proceedings Against DMK MP Kathir Anand Initiated By Income Tax Department

Live Law  

The Supreme Court on Monday stayed the criminal proceedings initiated against DMK MP Kathir Anand by the Income Tax Department for delayed filing of Income Tax returns and alleged tax evasion, after the Madras High Court refused to quash the said proceedings against him in July.A division bench of Justice Hrishikesh Roy and Justice Pankaj Mithal stayed the criminal proceedings …

Income Would Accrue Only When The Assessee Gets A Right To Receive The Income: ITAT
1 year, 4 months ago

Income Would Accrue Only When The Assessee Gets A Right To Receive The Income: ITAT

Live Law  

The Bangalore Bench of the Income Tax Appellate Tribunal has held that the income would be receivable only when the income accrues to the assessee, and the income would accrue to the assessee only when the assessee gets such a right to receive the income.The bench of George George K. and Laxmi Prasad Sahu has observed that the assessee would …

ITAT Quashes Income Tax Addition In Respect Of Immovable Property Warranting Revision By The PCIT
1 year, 4 months ago

ITAT Quashes Income Tax Addition In Respect Of Immovable Property Warranting Revision By The PCIT

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has quashed the income tax addition in respect of immovable property, warranting revision by the PCIT.The bench of Anubhav Sharma and M. Balaganesh has observed that AO, after making adequate inquiries, proceeded to make an addition for alleged money receipts on a protective basis in the hands of. The Delhi Bench …

ITAT Disallows Interest Paid On Loan Taken For Paying Compensation To Family Members Pursuant To Arbitral Award On Family Settlement
1 year, 5 months ago

ITAT Disallows Interest Paid On Loan Taken For Paying Compensation To Family Members Pursuant To Arbitral Award On Family Settlement

Live Law  

The Panaji Bench of the Income Tax Appellate Tribunal has disallowed the interest paid on a loan that was taken for paying compensation to the assessee’s family members pursuant to an arbitral award on family settlement.The bench of R.S. The Panaji Bench of the Income Tax Appellate Tribunal has disallowed the interest paid on a loan that was taken for …

NLU-Delhi Is Not Engaged In Business: ITAT Quashes Income Tax Penalty
1 year, 6 months ago

NLU-Delhi Is Not Engaged In Business: ITAT Quashes Income Tax Penalty

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has quashed the penalty under Section 271B of the Income Tax Act on the grounds that the NLU-Delhi is not engaged in "business" and exists solely for educational purposes.The bench of Anubhav Sharma and Anil Chaturvedi has observed that to justify invoking the mandate of Section 44AB, it. The Delhi Bench …

Additions Can’t Be Made In Absence Of Incriminating Material: ITAT Deletes Income Tax Addition
1 year, 6 months ago

Additions Can’t Be Made In Absence Of Incriminating Material: ITAT Deletes Income Tax Addition

Live Law  

The Mumbai Bench of the Income Tax Appellate Tribunal has held that the additions could not have been made in the absence of any incriminating material.The bench of Kavitha Rajagopal and B.R. Baskaran observed that the additions made by the Assessing Officer under Section 68 of the Act towards the sale of shares and also estimated. The Mumbai Bench of …

AO Can’t Make Addition On The Basis Of Statement Without Corroborating It With Any Other Material: ITAT
1 year, 7 months ago

AO Can’t Make Addition On The Basis Of Statement Without Corroborating It With Any Other Material: ITAT

Live Law  

The Mumbai Bench of the Income Tax Appellate Tribunal has held that an AO cannot make additions merely on the basis of a statement without corroborating it with any other material.The bench of Pavan Kumar Gadale and B.R. Baskaran has observed that the AO has assessed entire cash receipts as income of the assessee without examining the nature of. The …

Tax Cases Weekly Round-Up: 07 May to 13 May, 2023
1 year, 7 months ago

Tax Cases Weekly Round-Up: 07 May to 13 May, 2023

Live Law  

Supreme Court Case Title: Heinz India Limited v The State of Kerala Citation: 2023 LiveLaw 411 The Supreme Court Bench has held that prickly heat powders fall under the category of ‘medicated talcum powder’ and not ‘medicine’ for the purpose of sales tax under Kerala General Sales Tax Act, 1963. Chhattisgarh High Court Case Title: M/s Nava Raipur Atal Nangar …

Department Can Bring Expenditure Incurred In Earlier Years To Be Taxed In Subsequent Years On Grounds Of Bogus Expenditure: ITAT
1 year, 7 months ago

Department Can Bring Expenditure Incurred In Earlier Years To Be Taxed In Subsequent Years On Grounds Of Bogus Expenditure: ITAT

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has observed that the department can bring expenditures incurred in earlier years to be taxed in subsequent years on grounds of bogus expenditure.The bench of B. R. R. Kumar has observed that the department can bring the expenditure incurred in the earlier years to be taxed in the subsequent years if …

Without Corroborating Evidence, Addition Can’t Be Made On The Basis Of A Declaration Made U/s 132(4) Of The Income Tax Act: ITAT
1 year, 7 months ago

Without Corroborating Evidence, Addition Can’t Be Made On The Basis Of A Declaration Made U/s 132(4) Of The Income Tax Act: ITAT

Live Law  

The Guwahati Bench of the Income Tax Appellate Tribunal has held that without corroborating evidence, an addition ought not to be made on the basis of a declaration made under Section 132 of the Income Tax Act.The bench of Rajpal Yadav and Manish Borad has observed that apart from the disclosure statement, no other document is being referred to. The …

Non-Compete Fee Related To Profession Is Made Taxable Only w.e.f. AY 2017-18: ITAT
1 year, 8 months ago

Non-Compete Fee Related To Profession Is Made Taxable Only w.e.f. AY 2017-18: ITAT

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has held that a non-compete fee related to a profession is made taxable only with effect from AY 2017–18, and the non-compete fee in relation to a profession for periods prior to AY 2017–18 would be treated as a capital receipt.The bench of Astha Chandra and Shamim Yahya has decided in …

In Absence Of Proper Show Cause Notice To The Assessee, There Is No Merit In Levy Of Penalty: ITAT
1 year, 8 months ago

In Absence Of Proper Show Cause Notice To The Assessee, There Is No Merit In Levy Of Penalty: ITAT

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has held that where the initiation of penalty is one limb and the levy of penalty is another limb, then in the absence of proper show cause notice to the assessee, there is no merit in the levy of penalty.The bench of Anil Chaturvedi and Yogesh Kumar Us has relied on …

Tax Cases Weekly Round-Up: 12 March To 18 March, 2023
1 year, 9 months ago

Tax Cases Weekly Round-Up: 12 March To 18 March, 2023

Live Law  

Supreme Court Case Title: Commercial Tax Officer Versus Neeraja Pipes Pvt. Gujarat High Court Case Title: Keenara Industries Private Limited Versus Income Tax Officer The Gujarat High Court has held that the reassessment notices were issued after the lapse of six years and are therefore time-barred. Case Title: Manishkumar Tulsidas Kaneriya Versus Assistant Commissioner Of Income Tax, Central 1, Rajkot …

Section 14A Disallowance Not Warranted If No Exempt Income Is Earned: ITAT
1 year, 10 months ago

Section 14A Disallowance Not Warranted If No Exempt Income Is Earned: ITAT

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has held that the disallowance under Section 14A of the Income Tax Act is not warranted if no exempt income is earned.The two-member bench of Anubhav Sharma and Anil Chaturvedi has observed that Section 14A envisages that there should be actual receipt of income, and hence Section 14A of the Act. …

Matter Which Is Not The Subject Matter Of Limited Scrutiny Cannot Be Raised In Revisionary Proceedings: ITAT
2 years ago

Matter Which Is Not The Subject Matter Of Limited Scrutiny Cannot Be Raised In Revisionary Proceedings: ITAT

Live Law  

The Chandigarh Bench of the Income Tax Appellate Tribunal has held that matters that were not subject to limited scrutiny cannot be raised in revisionary proceedings.The two-member bench of Diva Singh and Vikram Singh Yadav has observed that the matter relating to wages and labor expenses, which was not subject to limited scrutiny, cannot be raised. The Chandigarh Bench of …

ITAT Allows Section 80G Deduction To The Trust Which Is Not Substantially Religious
2 years ago

ITAT Allows Section 80G Deduction To The Trust Which Is Not Substantially Religious

Live Law  

The Pune Bench of the Income Tax Appellate Tribunal has allowed the deduction under Section 80G of the Income Tax Act to the trust, which is not substantially religious.The two-member bench headed by R.S. The Pune Bench of the Income Tax Appellate Tribunal has allowed the deduction under Section 80G of the Income Tax Act to the trust, which is …

Tax Cases Weekly Round-Up: 04 December To 10 December 2022
2 years ago

Tax Cases Weekly Round-Up: 04 December To 10 December 2022

Live Law  

Supreme Court Case Title: State of Jharkhand and others Versus Linde India Limited and Another The Supreme Court has held that the main function of oxygen in manufacturing steel is to reduce the carbon content; therefore, it can be considered a refining agent but not a raw material, so the concessional rate of sales tax is not available on oxygen. …

Tax Cases Monthly Round-Up: November, 2022
2 years ago

Tax Cases Monthly Round-Up: November, 2022

Live Law  

Indirect Taxes Supreme Court Case Title: OCL India Limited vs State of Orissa Citation: 2022 LiveLaw 911 The Supreme Court upheld States' power to impose entry tax from Industrial Township/Areas. Bombay High Court Case Title: Asit C. Mehta Financial Services Limited versus The Customs Excise and Service Tax Appellate Tribunal The Bombay High Court has ruled that the time limit …

Department Is Not Allowed To Travel Beyond The Issues Involved In Limited Scrutiny Cases: ITAT
2 years ago

Department Is Not Allowed To Travel Beyond The Issues Involved In Limited Scrutiny Cases: ITAT

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has held that the department is not allowed to travel beyond the issues involved in limited scrutiny cases.The two-member bench of N.K. The Delhi Bench of the Income Tax Appellate Tribunal has held that the department is not allowed to travel beyond the issues involved in limited scrutiny cases. The assessee …

Income Tax Assessment made by a non-jurisdictional officer is void: Kolkata ITAT
2 years, 1 month ago

Income Tax Assessment made by a non-jurisdictional officer is void: Kolkata ITAT

Live Law  

The Kolkata Income Tax Appellate Tribunal has held that the income tax assessment made by a non-jurisdictional officer is null and void.The two-member bench of Sonjoy Sarma and Rajesh Kumar has observed that in the case of a non-corporate assessee in non-metro cities, the ITR filed up to Rs. The Kolkata Income Tax Appellate Tribunal has held that the income …

Appeal By Assessee Prior To Declaration Under VSVS Act, Shall Revive On Failure To Pay the Tax Determined: ITAT
2 years, 1 month ago

Appeal By Assessee Prior To Declaration Under VSVS Act, Shall Revive On Failure To Pay the Tax Determined: ITAT

Live Law  

The Chennai bench of the Income Tax Appellate Tribunal has ruled that if the assessee violates the conditions prescribed under the Direct Tax Vivad Se Vishwas Act, 2020 by not paying the tax determined by the designated authority, the appeal filed by it prior to filing a declaration under the DTVSVS Act, disputing the tax liability raised against it, shall …

Liability To Deduct TDS Under Section 201 of Income Tax Act Is A Vicarious Liability, Which Ends With Discharge Of Principal Liability Of Recipient Of Income: ITAT
2 years, 1 month ago

Liability To Deduct TDS Under Section 201 of Income Tax Act Is A Vicarious Liability, Which Ends With Discharge Of Principal Liability Of Recipient Of Income: ITAT

Live Law  

The Mumbai bench of the Income Tax Appellate Tribunal has ruled that the liability to deduct tax at source under Section 201 read with Section 195 of the Income Tax Act, 1961, is a vicarious liability of the payer of an income and thus, the liability to deduct TDS ceases to exist when the primary liability of the recipient of …

Income Tax Exemption Eligible On Activities Undertaken For Advancement Of General Public Utility: ITAT
2 years, 1 month ago

Income Tax Exemption Eligible On Activities Undertaken For Advancement Of General Public Utility: ITAT

Live Law  

The Mumbai Bench of the Income Tax Appellate Tribunal has held that the income tax exemption under Section 11 of the Income Tax Act is eligible for activities undertaken for the advancement of general public utility.The two-member bench headed by Pramod Kumar and Rahul Chaudhary has observed that the activities of the appellant were directed toward. The Mumbai Bench of …

Tax Cases Weekly Round-Up: 9 October To 15 October, 2022
2 years, 2 months ago

Tax Cases Weekly Round-Up: 9 October To 15 October, 2022

Live Law  

Supreme court Case Title: Tata Motors Limited Versus Central Sales Tax Appellate Authority & Others Citation: 2022 LiveLaw 847 The Supreme Court has directed the state of Andhra Pradesh to transfer to Jharkhand the amount of central sales tax deposited by Tata Motors with respect to the sale of buses to the Andhra Pradesh State Road Transport Corporation. Versus Commissioner …

Agricultural Land Cultivated Only For A Few Days: ITAT Allows Exemption
2 years, 3 months ago

Agricultural Land Cultivated Only For A Few Days: ITAT Allows Exemption

Live Law  

The Pune Bench of the Income Tax Appellate Tribunal has allowed the income tax exemption under Section 54B even when the land was cultivated only for a few days during the relevant years.The two-member bench of S.S. Vishwanethra Ravi and Inturi Rama Rao has observed that part of the land could not be used for agricultural purposes but grass was. …

Twin Conditions In Section 10B (8) Income Tax Act Has To Be Fulfilled To Claim Exemption Relief: Supreme Court
2 years, 5 months ago

Twin Conditions In Section 10B (8) Income Tax Act Has To Be Fulfilled To Claim Exemption Relief: Supreme Court

Live Law  

For claiming the benefit under Section 10B of the Income Tax Act, the twin conditions of furnishing a declaration before the assessing officer and that too before the due date of filing the original return of income under section 139 are to be satisfied and both are mandatorily to be complied with, the Supreme Court observed in a judgment delivered …

Reassessment Proceedings Can't Be Initiated On Same Set Of Facts Available: ITAT
2 years, 5 months ago

Reassessment Proceedings Can't Be Initiated On Same Set Of Facts Available: ITAT

Live Law  

The Mumbai Bench of the Income Tax Appellate Tribunal has held that the reassessment proceedings cannot be initiated by applying a fresh application of mind to the same set of facts available at the time of the original scrutiny assessment proceedings. The Assessing Officer issued the notice under section 148 of the Income Tax Act, initiating the reassessment proceedings in …

Deliberately Concealing The Income, Assessee Can Be Prosecuted : Madras High Court
2 years, 5 months ago

Deliberately Concealing The Income, Assessee Can Be Prosecuted : Madras High Court

Live Law  

The Madras High Court has ruled that an assessee can be prosecuted for willfully and deliberately concealing his income by not filing his income tax return within the stipulated time, even after the return belatedly submitted by the assessee is accepted by the revenue authorities on the basis of which an assessment order is passed. The Court noted that only …

Discover Related