Search results for: Assessing Officer

The Income Tax Appellate Tribunal (ITAT), Chandigarh Bench ruled that Assessing Officer was unable to furnish the opportunity for cross-examination of witnesses and removes the addition on the basis of additional net profit. The petitioner M/s. DSG Papers Pvt. Ltd., is involved in the business of manufacturing paper and paper products. The PCIT started revisionary […]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that there shall be no tax implications on the profits of the businesses which is earned on the basis of the reinsurance business in the lack of the fixed place permanent establishment (PE) in India. The two-member bench, Pramod Kumar (Vice President) and Anikesh […]

The New Delhi Bench of the Income Tax Appellate Tribunal (ITAT), denied the assessment order as void ab initio since there was no deviation in income returned by the taxpayer Super Brands Ltd [UK]. On the furnished tax return by the taxpayer, the assessing officer has assumed the jurisdiction, and legal notices were provided and […]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled the taxpayer had elaborated, deposits were being incurred in the way of cash withdrawals which would be functioned before for the intention of the marriage of her daughter. Bench, Saktijit Dey (Judicial Member) saw that a taxpayer who explained the case was reasonable if […]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) removed the charge of late fees of Rs 40,000 concerning the period of the tax deduction before 1/06/2015. The two-member bench of Rahul Chaudhary (Judicial Member) and M. Balaganesh (Accountant Member) laid on the decision of Karnataka for the case of Fatehraj Singhvi Vs. Union […]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) ruled that any sum filed to the employee as a bonus or commission for the services furnished required to be permitted as a deduction. The bench of Saktikit Dey sees that the reasonableness of the payment or the sufficiency of services provided by the employee […]

Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT), the donations and investments incurred for the charity via the taxpayer’s trust for charitable and educational purposes concerning the operation of the trust and has the deductible nature and deleted the impugned additions by the Assessing Officer (AO). A bench consisting of Ms. Annapurna Gupta, an […]

The Income Tax Appellate Tribunal (ITAT), Chennai has deleted the penalty of Rs 1 Lakh as there was proper income return filing including a tax audit report. Under section 133A of the act, a survey was performed on the taxpayer’s M/s. Saravana Foundation business premises, it is revealed that the taxpayer has obtained the gross […]