22 July 2024


Search Results for Tag : Additions

International Cases

Commissioner is not bound by the three-year period of limitation where full amount of tax chargeable was not assessed due to fraud, misrepresentation, non-disclosure of material facts(15.10.2021)

The issue for determination before present Court was whether the High Court correctly held that, there was a sufficiently close causal link that exist.....

Tags : Assessment, Income, Additions

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Judgments

There should be reason to believe about escapement of income for initiation of reassessment proceedings, sufficiency of material cannot be considered at that stage(16.08.2019)

Present two appeals by the assessee relating to the assessment years arise out of the common order passed by the Commissioner of Income-tax (Appeals)......

Tags : Assessment, Additions, Legality

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Provisions of IT Act are not applicable on mere reimbursement of business expenses of company(16.03.2020)

The assessee being resident individual was assessed for year under consideration under Section 143(3) of Income Tax Act, 1961 (IT Act)on 28th November.....

Tags : Expenditure, Additions, Legality

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On mere suspicion, addition for unexplained Cash Credit cannot be made(05.03.2020)

In facts of present case, the assessee is son of Shri Madhukar Rathi. The assessee filed his return of income declaring total income of Rs.56,10,180. .....

Tags : Transaction, Genuineness, Additions, Legality

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An unregistered agreement cannot be a ground for invoking provisions of Section 40A(2)(b) of the IT Act in absence of requirement of law(23.07.2020)

The Assessee Company was engaged in business of manufacturing and trading of ignition coils for motor vehicle engines. For the year under consideratio.....

Tags : Additions, Provision, Applicability

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The onus is always on the Assessee to substantiate with evidence to the satisfaction of the AO that cash credit is genuine(18.08.2020)

The Assessee is a society engaged in the business of manufacturing of soap. It filed its return of income on 31st August, 2010 declaring the total inc.....

Tags : Transaction, Genuineness, Additions

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Statement recorded at the back of assessee cannot be used in evidence against the assessee, unless the right of cross-examination have been granted(17.02.2021)

Present appeal by Assessee has been directed against the Order of the Learned Commissioner of Income Tax (Appeal) [CIT(A)], New Delhi, for the Assessm.....

Tags : Additions, Cross-examination, Entitlement

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When assessee proves business/commercial expediency, disallowance under Section 40A(3) of IT Act is unwarranted(18.11.2020)

The assessee is a partnership firm engaged in the business of manufacturing and fabrication of machine components. The assessment under Section 143(3).....

Tags : Disallowance, Additions, Legality

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No additions could be based merely on doubts, conjectures or surmises(03.12.2020)

The assessee being resident corporate assessee is stated to be engaged in civil construction. It was assessed for year under consideration under Secti.....

Tags : Assessment, Additions, Legality

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Once assessee has raised a legal issue challenging validity of notice under Section 148 of IT Act irrespective of non-appearance of assessee, Commissioner of Income Tax has to adjudicate legal issues(17.03.2021)

The Assessing Officer while passing the order under Section 147 read with Section 143 (3) of Income Tax Act, 1961 (IT Act) has made an addition of Rs......

Tags : Assessment, Additions, Exparte order

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Multiple matrimonial/penal proceedings launched by daughter-in- law against Assessee's entire family is a sufficient reason beyond assessee’s control and sufficient to condone the delay(29.01.2021)

Appellant by filing the present appeal sought to set aside the impugned order passed by the Commissioner of Income-tax (Appeals), Delhi qua the assess.....

Tags : Assessment, Additions, Delay, Condonation

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Expenditure incurred towards membership fee paid by company is allowable as revenue expenditure(19.01.2021)

Present appeal filed by the assessee is directed against the order passed by the Learned Commissioner of Income Tax [CIT(A)]. The only effective groun.....

Tags : Assessment, Additions, Legality

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Any material collected at the back of the assessee cannot be read in evidence against the assessee(13.05.2021)

Present appeal by Assessee has been directed against the Order of the Learned Commissioner of Income Tax CIT(A) challenging the reopening of the asses.....

Tags : Assessment, Additions, Legality

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Mere suspicion without any evidence on record could not be the basis for making an addition to income under Section 69 of IT Act(30.04.2021)

The instant appeal filed by the Revenue is directed against the order passed by the Commissioner of Income Tax (Appeals) arising out of the order pass.....

Tags : Assessment, Additions, Legality

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When Joint Commissioner recorded satisfaction in a mechanical manner to accord sanction for issuing notice under section 148 of IT Act, reopening of assessment was invalid(16.04.2021)

The assessee is a private limited company and filed its return of income, declaring income of Rs.42,396. In present case, information was received fro.....

Tags : Additions, Assessment, Legality

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An order passed by the quasi-judicial authority should be in conformity with the principles of natural justice(06.07.2021)

In facts of the present case, the Appellant is an individual, who engaged in the business of Ferrous and Non-Ferrous Scrap Material. The return of inc.....

Tags : Assessment, Additions, Validity

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When land is agricultural land, no tax is payable, when the compensation/enhanced compensation is received by assessee(16.04.2021)

The assessee is agriculturist, his land was acquired by the Government and he received total compensation of Rs. 2,56,29,932 from land acquisition off.....

Tags : Assessment, Additions, Legality

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If loan or advance is given by Company to a shareholder for further consideration which is beneficial to the Company, such advance or loan cannot be said to be deemed dividend(23.04.2021)

Present appeal filed by the assessee is directed against the order of learned Commissioner of Income Tax (Appeals). The grounds raised by the assessee.....

Tags : Assessment, Additions, Legality

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CIT(A) is obligated to state points for determination in appeal before him, the decision thereon and the reasons for determination(22.04.2021)

The assessment in the case of the assessee was framed by Assessing Officer (AO) under Section 143(3) read with Section 144 of the Income Tax Act, 1961.....

Tags : Assessment, Additions, Legality

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Hostel facility is incidental to achieve the object of providing education and comes under charitable purpose which is exempt under Section 11 of IT Act(03.11.2021)

The assessee society is duly registered with the Registrar of Society, Uttar Pradesh and the renewal was granted vide letter dated 6th February, 2012 .....

Tags : Assessment, Additions, Validity

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Once the income was offered in the return, the same could not have been treated as cash credit under Section 68 or unexplained investment under Section 69 of the IT Act(31.01.2022)

The assessee is an individual who filed his return consisted of income from conducting tuitions and also carrying out the work of accounts writing. T.....

Tags : Assessment, Additions, Legality

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Once it is an established fact that, there is a commercial expediency, no interest can be disallowed under Section 36(1)(iii) of the IT Act(10.02.2022)

The assessee is a company engaged in the business of setting up & service of Effluent Water Treatment Plants, filed return of income. During the cours.....

Tags : Assessment, Additions, Legality

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Primary onus lies upon the assessee to justify that the business decisions were taken in the course of the business only(13.04.2022)

The assessee is a private limited company and engaged in the business of manufacturing Glazed Ceramics Tiles. The assessee in the year under considera.....

Tags : Assessment, Additions, Legality

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Assessee cannot agitate once again on the same issues, which are already adjudicated(05.05.2022)

The assessee filed return of income for the assessment year 2010-11 declaring total income and the same was processed under Section 143(1) of the Inco.....

Tags : Assessment, Additions, Legality

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Documents seized must be incriminating and must relate to each of the assessment years whose assessments are sought to be reopened(04.05.2022)

The appeal is preferred by the assessee against order in appeal for the assessment year 2013-14 passed by Learned Commissioner of Income Tax (Appeals).....

Tags : Assessment, Additions, Legality

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In absence of any specific finding against the assessee, the assessee cannot be held to be linked to the wrong acts merely on basis of assumptions(23.12.2022)

The assessee is an individual and deriving income from business and from investment in shares and from other sources. The assessee for the year under .....

Tags : Assessment, Additions, Legality

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Section 14A of IT Act will not apply, if no exempt income is received or receivable during the relevant previous year(21.11.2022)

Present Income Tax Appeal has been filed challenging the Order passed by the Income Tax Appellate Tribunal ('ITAT') for Assessment Year 2012-13. The A.....

Tags : Additions, Deletion, Legality

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Sum received from creditors cannot be regarded as unexplained credit/ income of the assessee(21.12.2022)

Present appeal filed by the assessee is directed against the order of the Commissioner of Income Tax (Appeals), and pertains to assessment year 2013-1.....

Tags : Assessment, Additions, Legality

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No jurisdiction can be assumed for framing assessment under Section 147 of the IT Act in absence of reasons to believe about the escapement of income(19.12.2022)

The assessee is a real estate agent, who furnished his original return. Thereafter, the Assessing Officer (AO) received information indicating that, t.....

Tags : Assessment, Additions, Legality

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Addition made purely on the basis of conjectures and surmises is not permissible under law(17.05.2022)

The assessee is an individual and is engaged as partner in the business of manufacturing of shoes under the name "Zoomtech Industries" who filed retur.....

Tags : Assessment, Additions, Legality

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No addition can be made by the Assessing Officer in absence of any incriminating material relating to completed assessments(24.04.2023)

The core issue involved in the present batch of appeals is the scope of assessment under Section 153A of the Income Tax Act, 1961. According to the Re.....

Tags : Assessment, Additions, Jurisdiction

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When there is no doubt on papers and the conduct of the parties, creating doubt cannot be the basis for making addition(04.08.2023)

The return of income was field on 30.09.2014 declaring total income of Rs.7,52,410 and agricultural income of Rs.6,16,315. The same was processed unde.....

Tags : Assessment, Additions, Legality

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When cash deposits in specified bank notes already included in gross receipts, the same needs to be excluded for the purpose of estimation of profit(04.08.2023)

The assessee is engaged in the business of bore-well drilling, has not filed its return of income for the assessment year 2017-18 within the time allo.....

Tags : Assessment, Additions, Validity

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Primary onus lies with the assessee to explain the source of credit in the books under Section 68 of the IT Act(16.11.2023)

The appeal has been preferred by the assessee against the order of the Commissioner of Income Tax (Appeals). The only issue raised by the assessee is .....

Tags : Assessment, Additions, Legality

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If the Assessee has mistakenly included any amount which is exempted from the payment of Income-tax, Revenue is under obligation to grant the refund of tax paid in excess by him(21.09.2020)

In facts of present case, the Assessee is a company, deriving income from agricultural activities and earning from investments. For the assessment yea.....

Tags : Additions, Exemption, Direction

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Transfer of Shares being an internal family realignment cannot be treated as Gift or Perquisites(12.05.2020)

The Assessee is an investment company. Return of income was electronically filed declaring total income of Rs. 2,75,836. During the course of assessme.....

Tags : Family arrangement, Additions, Legality

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Once a company is dissolved, it becomes a non-existent party and therefore, no action can be brought in its name(25.03.2022)

The assessee-company was trading in shares. The case of the assessee was selected for scrutiny assessment and notice under section 143(2) of the Incom.....

Tags : Assessment, Additions, Legality

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