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ACIT, Allahabad vs. M/s Madhu Colonisers (P) Ltd., Allahabad — Revenue Appeal Dismissed on Low Tax Effect under Section 268A in View of CBDT Monetary-Limit Circular | ITAT Allahabad
Facts of the CaseThe Assistant Commissioner of Income Tax, Allahabad, filed an
appeal before the Income Tax Appellate Tribunal, Allahabad Bench, against the
order passed by the Commissioner of Income Tax (Appeals) in t...
ACIT (Central Circle), Allahabad vs. Shashi Vaish, Allahabad — Revenue Appeal Dismissed on Low Tax Effect under Section 268A pursuant to CBDT Monetary-Limit Circular | ITAT Allahabad
Facts of the CaseThe Assistant Commissioner of Income Tax (Central Circle),
Allahabad, filed an appeal before the Income Tax Appellate Tribunal, Allahabad
Bench, challenging the order passed by the Commissioner of Inco...
ACIT (Central Circle), Allahabad vs. M/s Subhash Stone Industries Ltd., Nainital — Revenue Appeal Dismissed on Low Tax Effect under Section 268A pursuant to CBDT Monetary-Limit Circular | ITAT Allahabad
Facts of the CaseThe Assistant Commissioner of Income Tax (Central Circle),
Allahabad, filed an appeal before the Income Tax Appellate Tribunal, Allahabad
Bench, challenging the order passed by the Commissioner of Inco...
Unsubstantiated Addition Cannot Be Sustained — ITAT Grants Relief to Assessee in Vishwanath vs. ITO | Key Income-tax Case Law
Facts of the
CaseThe assessee, Vishwanath, was subjected to
assessment proceedings in which the Assessing Officer (AO) made additions to
income on the ground that certain transactions or receipts were not
satisfactor...
Addition Deleted Due to Lack of Proper Evidence — ITAT Grants Relief to Assessee in Vinod vs. ITO | Key Income-tax Case Law
Facts of the
CaseThe assessee, Vinod, was subjected to assessment
proceedings in which the Assessing Officer (AO) made additions to income on the
ground that certain receipts or transactions were not satisfactorily ex...
No Addition under Section 68 Without Books of Account — ITAT Holds Bank Statement Is Not Assessee’s Books | ITO vs. Sheetalaya
Facts of the
CaseThe assessee had deposited certain sums in a bank
account during the relevant assessment year but did not maintain regular books
of account. During assessment proceedings, the Assessing Officer (AO) t...
Addition Without Supporting Evidence Deleted — ITAT Grants Relief to Assessee in Purushottam vs. ITO | Key Income-tax Case Law
Facts of the
CaseThe assessee, Purushottam, was subjected to
assessment proceedings in which the Assessing Officer (AO) made additions to
income on the ground that certain receipts, transactions, or amounts were not
...
Addition Based on Presumptions Not Sustainable — ITAT Grants Relief to Assessee in DHSL vs. ITO | Key Income-tax Case Law
Facts of the
CaseThe assessee, DHSL, was subjected to assessment
proceedings wherein the Assessing Officer (AO) made additions to income on the
premise that certain receipts or transactions were not satisfactorily
ex...
Educational Institution Entitled to Exemption — ITAT Deletes Addition Against Bal Bharti School | ITO vs. Bal Bharti
Facts of the
CaseThe assessee, Bal Bharti, was running an
educational institution engaged in imparting education. During assessment
proceedings, the Assessing Officer (AO) denied exemption and treated certain
receipt...
Addition Unsustainable Without Proper Evidence — ITAT Grants Relief to Assessee in ITO vs. Bharat | Key Income-tax Case Law
Facts of the
CaseDuring assessment proceedings, the Assessing
Officer (AO) made additions to the assessee’s income on the ground that certain
transactions or receipts were not satisfactorily explained. The AO treate...