Stories with the ‘ tag ‘ you searched for "Income Tax Act 1961"

Taxpayer Can't Be Penalised For Failure To Get Its Books Of Accounts Audited If There Exists Reasonable Cause For Such Failure: Jaipur ITAT
Cash-In-Hand Out Of Business Profits Declared In Return U/s 44AD, Can't Be Plainly Added As Unexplained Money: Delhi ITAT
Once Taxpayer Shows Reasonable Cause For Accepting Cash Loan, Burden Shifts On AO To Prove That Such Cause Lacks Bonafide: Chennai ITAT
Interest & Dividend Derived By One Cooperative Society From Its Investment Held With Another One Is Eligible For Deduction U/s 80P(2)(D): Pune ITAT
Once Penalty Stood Levied U/s 271A For Non-Maintenance Of Books Of A/c, No Further Penalty U/s 271B Can Be Levied: Mumbai ITAT
No Adhoc Disallowance Is Warranted U/s 40A(2) On Payments Which Were Not Identified As Excessive Or Unreasonable By AO: Bangalore ITAT
AO Fails To Examine Relevant Material For Determining FMV Of Interest Rate For Availing Unsecured Loans: Mumbai ITAT Remits Matter
No Addition Warranted U/s 68 Once Taxpayer Has Discharged Identity & Credit-Worthiness Of Subscribers: Kolkata ITAT
No Penalty Is Leviable U/s 271(1)(C) If Bona Fide Mistake In Original Return Was Corrected By Revised Computation During Assessment: Mumbai ITAT
Time Barred Reference By AO To TPO By Giving Go Bye To Mandate Of Sec 92CA Is Clearly Erroneous: Mumbai ITAT Upholds Revision U/s 263
Advance Filing Of Form 10B Along With I-T Return Is Not Mandatory Requirement For Claiming Exemption U/s 11 & 12: Ahmedabad ITAT
Ahmedabad ITAT Quashes Reopening In Absence Of Tangible Material With AO To Form Reason To Believe Escaped Assessment