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Ex-Parte Assessment on Cash Deposits Set Aside — ITAT Allahabad Remands Matter for Fresh Hearing in Chandra Bali Singh v. ITO (ITA No. 129/Alld)
Facts of the CaseThe assessee was subjected to reassessment proceedings for the
relevant assessment year on the basis of information regarding substantial cash
deposits in bank accounts. Notices were issued under statu...
Jeevan Jyoti Group vs. ITO (ITAT Allahabad) — Eligibility and Validity of Settlement under Vivad Se Vishwas Scheme (VSVS) in Pending Tax Appeals
Facts of the CaseMultiple appeals filed by the assessee before the Income Tax
Appellate Tribunal were pending adjudication for relevant assessment years.
During the pendency of the appeals, the assessee opted to resolv...
Delay in Filing Appeal Condoned by ITAT — Liberal Approach Adopted in Ashok Kumar Panda v. ITO (ITA No. 136/Alld)
Facts of the CaseThe assessee filed an appeal before the Income Tax Appellate
Tribunal with a delay beyond the prescribed statutory period. Along with the
appeal, the assessee submitted an application seeking condonati...
Conversion of Leasehold Land into Freehold Charges Allowable as Cost of Improvement u/s 48 for Capital Gains — ITAT Allahabad in Sanjay Majumdar v. PCIT (ITA No. 68/Alld/2018)
Facts of the CaseThe assessee, an individual and co-owner of an immovable property,
sold his share in land originally held on leasehold basis. Prior to sale, the
property was converted from leasehold to freehold upon p...
Interest on Bank Deposits & Forfeiture of Contractor EMD During Pre-Operative Period — Capital Receipt vs Income from Other Sources | ITAT Allahabad in Meja Urja Nigam Pvt. Ltd. v. ITO (AY 2013-14 & 2014-15) — Sections 56 & 143(3)
Facts of the CaseThe assessee, a company engaged in setting up a thermal power
project, had not commenced commercial production during the relevant assessment
years (AY 2013-14 and AY 2014-15). During the construction ...
Appeal Dismissed as Withdrawn on Availing Vivad Se Vishwas Scheme, 2020 — Mrs. Vijma Yadav vs ITO (ITAT Allahabad) — Section 144, Income-tax Act, 1961
Facts of the CaseThe assessee, Mrs. Vijma Yadav, filed an appeal
before the Income Tax Appellate Tribunal (ITAT), Allahabad Bench, against the
order of the Commissioner of Income Tax (Appeals) dated 13.02.2015 for
Ass...
Prior Period & Project-Related Expenses — Allowability When Business is Set Up | Meja Urja Nigam (P.) Ltd. v. DCIT, ITAT Allahabad — Sections 37(1), 28
Facts of the CaseThe assessee company, engaged in the development of
a large infrastructure/power project, claimed deduction of various expenditures
incurred during the relevant assessment years. These expenses include...
Sales Promotion Expenses Disallowed for Lack of Evidence — Onus on Assessee to Prove Business Nexus | Bhola Food Products (P.) Ltd. v. JCIT (OSD), ITAT Allahabad — Section 37(1)
Facts of the CaseThe assessee company claimed deduction of
substantial expenditure incurred under the head of sales promotion and related
activities at various locations as business expenditure under Section 37(1) of
...
Ex-Parte Assessment & Appeal Dismissal Without Hearing Set Aside — ITAT Allahabad Restores Matter for Opportunity of Being Heard | Malay Prasad v. ACIT (ITA No. 32/ALLD/2020) — Sections 143(3), 68, 115BBE
Facts of the CaseThe assessee filed an appeal before the Income Tax
Appellate Tribunal against the order of the Commissioner of Income Tax
(Appeals), which arose from the assessment framed under Section 143(3) of the
...
Jai Bajrang Enterprises v. Income Tax Officer — ITAT Agra on Business Income Additions and Evidentiary Requirements in Scrutiny Assessment
Facts of the CaseJai Bajrang Enterprises, engaged in business
activities, was subjected to scrutiny assessment by the Assessing Officer.
During assessment proceedings, the Assessing Officer examined the books of
accou...