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Ex-Parte Assessment Set Aside for Lack of Opportunity — ITAT Restores Case to AO for Fresh Assessment in Amit Kumar Gupta v. ITO (ITA No. 40 & CO No. 7
Facts of the
CaseThe assessee was subjected to assessment
proceedings wherein the Assessing Officer completed the assessment ex-parte due
to non-appearance and alleged non-compliance by the assessee. Various additions...
Belated Return Bars Carry Forward of Business Loss but Not Unabsorbed Depreciation — ITAT Allahabad in Triveni Glass Ltd. v. ITO (AY 2012-13) Interpreting Sections 32(2), 72 & 139(3)
Facts of the
CaseThe assessee, a company engaged in manufacturing
glass products, filed its return of income for the relevant assessment year
belatedly, beyond the due date prescribed under Section 139(1) of the
Inco...
Employees’ PF/ESI Contribution Paid Before Return Due Date Allowable — ITAT Allahabad in Commercial Auto Sales Pvt. Ltd. v. ADIT (CPC) on Sections 36(1)(va) & 43B
Facts of the
CaseThe assessee, a private limited company engaged in
automobile business, filed its return of income declaring income under normal
provisions. The return was processed under Section 143(1) by the Centra...
Addition on Cash Deposits Deleted Where Source Explained — ITAT Allahabad in Kusum Singh v. ITO (ITA No. 156/2019) on Section 69A
Facts of the CaseThe assessee, an individual, was subjected to
scrutiny assessment during which the Assessing Officer noticed substantial cash
deposits in her bank account during the relevant financial year. The ...
Write-Back of Government Non-Plan Loan Taxable as Income — ITAT Allahabad in Bharat Pumps & Compressors Ltd. v. DCIT (Reassessment u/s 147, AY 2007-08)
Facts of the
CaseThe assessee, a Government of India Public Sector
Undertaking engaged in manufacturing pumps, compressors, and gas cylinders,
filed its return of income declaring nil income for Assessment Year 2007-0...
Unexplained Cash Deposits & Fake Property Advance Story Rejected — ITAT Allahabad Upholds Addition u/s 143(3): Mrs. Shaheen Khan (Legal Heir of Late Ahmad Hussain Khan) vs ITO (AY 2009-10)
Facts of the
CaseThe assessee filed a return
declaring income primarily from interest sources. The case was selected for
scrutiny based on AIR information showing substantial cash deposits exceeding
prescribed limits...
ACIT vs H. K. Infraventures Pvt. Ltd. — ITAT Allahabad Dismisses Revenue Appeal on Low Tax Effect as per CBDT Circular under Section 268A, Income-tax Act, 1961
Facts of the CaseThe Revenue filed an appeal before the Income Tax
Appellate Tribunal challenging the order of the Commissioner (Appeals) granting
relief to the assessee. However, at the time of hearing, it was noted t...
Sobat Singh vs ITO — ITAT Allahabad on Assessment under Section 143(3): Additions Based on Inadequate Evidence and Burden of Proof under Income-tax Act, 1961
Facts of the CaseThe assessee was subjected to scrutiny assessment
under Section 143(3) of the Income-tax Act for the relevant assessment year.
During the assessment proceedings, the Assessing Officer examined the fina...
LPR Construction vs ITO — ITAT Allahabad on Disallowance of Subcontractor Expenses & Cash Payments under Section 40A(3), 143(3) of Income-tax Act, 1961
Facts of the CaseThe assessee, a construction firm, claimed business
expenditure for payments made to contractors and subcontractors in connection
with project execution. During scrutiny assessment proceedings under Se...
B. M. Gupta vs ITO — ITAT Allahabad on Scope of Rectification under Section 154: Whether Debatable Issues Can Be Corrected as “Mistake Apparent from Record”
Facts of the CaseThe Assessing Officer passed a rectification order
under Section 154 of the Income-tax Act purportedly to correct an error in the
assessment. The rectification resulted in modification of the assessee...