Yearly Archive: 2023

Can AO made the addition ignoring the claim of the assessee that the cash withdrawn from the bank was available with the assessee for the deposit in the bank account?Section 69A

For full order kindly click here Can AO made the addition ignoring the claim of the assessee that the cash withdrawn from the bank was available with the assessee for the deposit in the bank account? Section 69A ITAT Ahmedabad…
Read more

69A-Unexplained money, Ahmedabad Tribunal

October 2, 2023

Can invocation of revisionary jurisdiction u/s 263 by CIT is sustainable by holding the assessment order as erroneous and prejudicial to the interest of revenue in respect of issue which was not a reason for selection of the case for limited scrutiny?

ITA No. 627/PUN/2019-Assessment Year : 2014-15 INCOME TAX APPELLATE TRIBUNAL, PUNE “B” BENCH, PUNE Shree Samastha Gujarathi Samaj, V/s. The CIT (Exemption), Pune Assessee by : Shri Pramod Shingte, CA Revenue by : Shri Ajay Kumar Kesari, DR Date of…
Read more

Cases Income tax

September 29, 2023

What would be the Consequences of an Order passed By IT Authority for not mentioning any DIN though DIN intimation letter was along with the manual order? FCA BPMUNDRA

What would be the Consequences of an Order passed By IT Authority for not mentioning any DIN though DIN intimation letter was along with the manual order? The Hon’ble CALCUTTA High Court confirm the order quashed by the ITAT…
Read more

Cases Income tax

September 29, 2023

Decision on Loose Papers found during the Search Section 132

Friends recently ITAT Mumbai pronounced on 20.06.2023 in the case of Aurum Platz Private Limited Vs. DCIT allowing the relief to the assessee by deleting the addition on account of loose papers found. the document relied upon by the department…
Read more

132, 132(1), 143(3), 14A, 153A, 2(14), 36(1)(iii), 69C, AY 2017-18, AY 2018-19, In Favour of Assessee, incriminating material, ITAT Mumbai, Loose papers

Advocate Atharv Mundra, Advocate Sagarika Loya, FCA B.P. Mundra – NEW RULE FOR STRIKE OFF OF THE COMPANIES W.E.F; 01.05.2023

Advocate Atharv Mundra, Advocate Sagarika Loya, FCA B.P. Mundra – NEW RULE FOR STRIKE OFF OF THE COMPANIES W.E.F; 01.05.2023 Friends kindly note that w.e.f; 1.5.2023 New rule for Strike off of the companies. New Companies (Removal of…
Read more

Cases Income tax

Advocate Atharv Mundra, Advocate Sagarika Loya, FCA B.P. Mundra – Amnesty Scheme for one-time settlement of default in Export Obligation

Advocate Atharv Mundra, Advocate Sagarika Loya, FCA B.P. Mundra – Amnesty Scheme for one-time settlement of default in Export Obligation The Directorate General of Foreign Trade (DGFT) has introduced an Amnesty Scheme for one-time settlement of default in Export Obligation…
Read more

Cases Income tax

ADVOCATE ATHARV MUNDRA FCA BPMUNDRA SUPREME COURT OF INDIA hold that The assessment orders passed in the search case is time barred where the assessments were not completed within two years from the end of the month the date of the Panchnama last drawn Section 125BE(b) CIVIL APPEAL NOS. 345-350 OF 2012 IN THE CASE OF Anil Minda and Others Vs. CIT on 24.03.2023

ADVOCATE ATHARV MUNDRA FCA BPMUNDRA SUPREME COURT OF INDIA hold that The assessment orders passed in the search case is time barred where the assessments were not completed within two years from the end of the month the date of the Panchnama last drawn…
Read more

132, 132(1), 158BE, 158BE(b), In Favour of Assessee, Supreme Court

The Depreciation can not be disallowed on the ground that the assessee has not started business activities if the assets were ready to put to use and the assessee was only waiting for proper business opportunity ITAT JODHPUR BENCH, JODHPUR in the case of M/s Sambhav Energy Limited vs ACIT on dated 02.11.2022. In the favour of the Assessee. Prepared by Advocate Atharv Mundra and FCA B. P. Mundra

The Depreciation can not be disallowed on the ground that the assessee has not started business activities if the assets were ready to put to use and the assessee was only waiting for proper business opportunity ITAT JODHPUR BENCH, JODHPUR in…
Read more

ITAT Jodhpur, Section 32

148 REASON RECORDED

148 REASON RECORDED

Cases Income tax

148 Notice cases Note Sheet

148 NOTICES CASES NOTE SHEET

Cases Income tax