Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Reassessment Quashed for Parallel Proceedings and Absence of Mandatory Notice under Section 143(2): ITO, Ranchi vs. Amba Carbonisation Pvt. Ltd. (ITAT Ranchi)
Facts of the
CaseThe assessee, Amba Carbonisation Pvt. Ltd., is
engaged in the business of manufacturing and trading of smokeless coal and
coke. For Assessment Year 2013-14, the original assessment under Section 143(3...
Appeal Dismissed as Infructuous After Assessment Set Aside under Section 263: Daltonganj Catholic Diocese vs. ITO (Exemptions), Ranchi (ITAT)
Facts of the
CaseThe assessee, Daltonganj Catholic Diocese, filed an
appeal against the order of the Commissioner of Income Tax (Appeals), NFAC,
Delhi, relating to Assessment Year 2016-17. The appeal arose out of an
...
Reopening Beyond Four Years Invalid Without Failure to Disclose Material Facts; Reassessment Quashed for Jurisdictional Defect: ITAT Ranchi in Bishnu Transport Company vs. DCIT
Facts of the CaseThe appeal was
filed by Bishnu Transport Company against the reassessment order passed by the
Assessing Officer under Section 147 read with Section 143(3) of the Income-tax
Act, 1961 for Assessment Ye...
Penny Stock LTCG Cannot Be Treated as Bogus on Suspicion When Documentary Evidence Is Unrebutted: Bijoy Kumar Agarwal vs ACIT (ITAT Ranchi)
Facts of the CaseThe assessee filed his return of income for Assessment
Year 2011–12 declaring total income of ₹5,56,050 from salary and house property
and declaring Long-Term Capital Gain of ₹30,55,833 as exempt...
Contractual Expenses Allowed and Revenue Appeals Dismissed in PSU Case Despite Search on Contractor Group: ACIT vs. Bharat Coking Coal Ltd. (ITAT Ranchi)
Facts of the
CaseThe appeals arose out of cross appeals filed by the
Revenue and the assessee, M/s Bharat Coking Coal Ltd. (a Government of India
PSU), along with cross objections, against orders passed by the CIT(A),...
Ex Parte Reassessment and Appellate Dismissal Set Aside; Matter Restored for Adjudication on Merits in Capital Gains Case – Jagdish Kumar Mahto vs. DCIT/ACIT, Circle-1, Ranchi (ITAT)
Facts of the
CaseThe assessee, Jagdish Kumar Mahto, an individual,
filed his return of income for Assessment Year 2016–17 declaring total income
of ₹10,06,440. During assessment proceedings, the Assessing Officer ...
Ex Parte Reassessment under Sections 147/144 Set Aside with Cost; Matter Remanded for De Novo Adjudication on Merits in Massive Cash Deposit Case – Suresh Jat vs. ITO, Dhar (ITAT Indore)
Facts of the
CaseThe assessee, Suresh Jat, did not file a return of
income for Assessment Year 2016-17 despite having taxable income. Based on
analysis of financial transactions reflected in the Income-tax Department
...
Ex Parte Reassessment and Faceless Appellate Dismissal Set Aside for Lack of Merits-Based Adjudication; Matter Remanded for De Novo Assessment – Shivalaya Engineering Works vs. ITO, Bhopal (ITAT Indore)
Facts of the
CaseThe assessee, Shivalaya Engineering Works, filed
its return of income for Assessment Year 2018-19 declaring total income of ₹19,52,800.
Based on information received through the Risk Management Stra...
Addition under Section 69A on Demonetisation Cash Deposits Set Aside Due to Incomplete Appreciation of Evidence; Matter Remanded for Fresh Adjudication – Santosh Bai Bhatevra vs. ITO Ward-1, Ratlam (ITAT)
Facts of the
CaseThe assessee, Santosh Bai Bhatevra, a retail
trader, filed her return of income for Assessment Year 2017-18 declaring total
income of ₹3,73,790. The case was selected for scrutiny under CASS on the ...
Revision under Section 263 Valid Where Assessing Officer Failed to Examine Mandatory Penalty under Section 271AAC on Surrendered Income Taxed under Section 115BBE – Radheshyam Agarwal vs. PCIT (Central), Bhopal (ITAT)
Facts of the
CaseThe assessee, Radheshyam Agarwal, proprietor of M/s
Laxmandas Radheshyam Saraf, is engaged in the business of trading in gold and
silver ornaments and money lending. A survey under Section 133A was co...