Stories with the ‘ tag ‘ you searched for "Assessing Officer (AO)"

Failure To Record Satisfaction Before Initiating Penalty U/s 271(1)(C) In Gross Violation Of CBDT Circular, Vitiates Penalty Order: Chennai ITAT
AO Can Make Addition Of Unexplained Cash Credit U/s 68 Only In Previous Year In Which Such Cash Credit Was Made And Assessee Fails To Explain Same: Mumbai ITAT
Typographical Error In Mentioning Incorrect Amount Of Expenses In Form 3CD Doesn't Permit AO For Any Addition To Assessee's Income: Chennai ITAT
Correction In Form 35A Is No Basis To Treat Such Form As Filed Beyond Time Limit: Mumbai ITAT Allows Expenses Incurred In Earning Capital Gain
Time Barred Notice Issued U/s 153C And Consequent Assessment Order Passed U/s 143(3) R/w/s 153C Is Void Ab Initio: Chennai ITAT
Assessment Made Purely Based On Assumption & Unverified Statement Of Third Party, Is Bad In Law: Mumbai ITAT
No Adhoc Disallowance Is Permitted Without Rejecting Books Of Account: Mumbai ITAT
Cash Sales Already Offered As Income Can't Be Taxed In Garb Of Inflation Sales To Cover Up Demonetization Currency: Delhi ITAT
Assessment By AO Can't Be Termed As Prejudicial To Interest Of Revenue If It Doesn't Result In Any Loss To Revenue: Indore ITAT
Incorrect calculation by AO Is Not 'Failure On Part Of Taxpayer To Disclose Material Fact', For Initiating Reopening: Ahmedabad ITAT
AO Fails To Demonstrate Live Link Between Tangible Material & Reason To Believe Escaped Income: Delhi ITAT Quashes Reopening
Trading Income From Sale Of Scrips Can't Be Conferred As 'Unaccounted Income' If Trading Activity Is Not Disputed At Any Time: Ahmedabad ITAT