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AO Fails To Scrutinize Cash Payments By Assessee Under Lens Of Sec 40A; Indore ITAT Upholds Revisional Interference U/s 263 - Vimarsana News

AO Fails To Scrutinize Cash Payments By Assessee Under Lens Of Sec 40A; Indore ITAT Upholds Revisional Interference U/s 263

On finding a lack of inquiry on the part of AO in allowing cash sales, which renders the assessment order erroneous so far as it is prejudicial to the interests of revenue, the Indore ITAT upheld ...

Source: livelaw.in
Litigant Is Not Allowed To Use Process Of Law To Achieve Ulterior Purpose In Under Hand Way By Filing Appeal Belatedly: Indore ITAT - Vimarsana News

Litigant Is Not Allowed To Use Process Of Law To Achieve Ulterior Purpose In Under Hand Way By Filing Appeal Belatedly: Indore ITAT

On finding that the assessee has failed to make out a case of reasonable cause much less sufficient cause for an abnormal delay of more than six years in filing the appeal, the Indore ITAT...

Source: livelaw.in
Bifurcated Details Of Income From Specified & Non-Specified Business Is Not Available: Indore ITAT Asks To Reconsider Deduction U/s 35AD - Vimarsana News

Bifurcated Details Of Income From Specified & Non-Specified Business Is Not Available: Indore ITAT Asks To Reconsider Deduction U/s 35AD

While setting aside the order of deduction passed u/s 35AD of the Income Tax Act in relation to investment on warehouse, the Indore ITAT has remitted back the issue to the AO for proper...

Source: livelaw.in
Assessment By AO Can't Be Termed As Prejudicial To Interest Of Revenue If It Doesn't Result In Any Loss To Revenue: Indore ITAT - Vimarsana News

Assessment By AO Can't Be Termed As Prejudicial To Interest Of Revenue If It Doesn't Result In Any Loss To Revenue: Indore ITAT

On finding that the facts of the case do not warrant application of section 263 of the Income Tax Act, the Indore ITAT set aside the revision order passed by PCIT and restored the original ...

Source: livelaw.in
Charging Nominal Sum For Functioning Educational Institution Not Commercial Activity: Indore ITAT Directs For Registration U/s 12AB - Vimarsana News

Charging Nominal Sum For Functioning Educational Institution Not Commercial Activity: Indore ITAT Directs For Registration U/s 12AB

While allowing the Assessee's appeal for registration u/s 12AB, the Indore ITAT held that mere charging a nominal amount for smooth functioning of educational institution and trust cannot called to be...

Source: livelaw.in