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Question : Is Penalty under Section 271E is permissible in the absence of regular assessment framed against the assessee by the Revenue? ITAT – Ahmedabad in the case of Vijayaben G Zalavadia, … vs The Jt. Cit, Gandhinagar on 11 May, 2022. Answer: Penalty Quashed.
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Whether Penalty u/s 272a(2)(e) imposed is justified for Late / Non-filing of ITR when the Assessee was under the bona fide belief that ITR was not required to file since its incomes is exempt under s. 10(23C)(iiiab)? ITAT Jaipur passed the order on this issue on 24 May, 2021. For full order kindly click the link to get full order.
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The assessee requested to the Ld. AO to furnish the statement recorded u/s. 132(4) of the Act which was not provided and the assessee retracted the statement through an affidavit confirming that the search officers recorded contrary to the answer given by them and such statements are not voluntarily and not the reliable evidence as signed under pressure. Further there is no independent and cogent evidence to corroborate the statement.The moot question in these circumstances that whether these statements are voluntarily and can be considered as reliable evidence. ITAT Pune decided on 24 June, 2021 in the case DCIT vs Shikshana Prasaraka Mandali. Kindly click the link to get full order. FCA bpmundra 9314501680 [email protected].
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An assessee has not filed the appeal. Now while filing cross objection on appeal filed by the department, the assessee submit an application in Rule 27 of the Appellate Tribunal Rules raising a new ground on which neither any decision rendered by the CIT(A) nor such ground was raised in appeal to CIT(A). The moot question is can the assessee file an application? ITAT Pune decided on 24 June, 2021 in the case DCIT vs Shikshana Prasaraka Mandali. Best Course of action is to file appeal and if there is delay in appeal then file with an application of condonation of delay. Kindly click the link to get full order. FCA bpmundra 9314501680 [email protected].
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Q.Consequences when the only reason for making and upholding the disallowance of the interest is the statement recorded by the officers of the Department and that too not by the Assessing Officer himself and that too which were not made available to the assessee for cross examination ? The ITAT- Lucknow M/S. Keymen Laminators Private … vs DCIT… passed order on 2 November, 2021. For full order kindly click the link. Section 68, 153A, 133(6)
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Q.Consequences of issue of penalty u/s 271(1)(c) without mentioning whether the notice is for concealment or the notice for furnishing of inaccurate particulars. ITAT Delhi decided the order on 3.11.2021 in the case of Acit, Central Circle-18, New … vs Inayatali Esmail Soomar, , Delhi. Kindly click the link to get full order.
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Q.Consequences when the Notice u/s 148 issued on amalgamating entity which ceases to exist upon the approved scheme of amalgamation despite informed to the Ld. AO. ITAT Delhi passed the order on this issue on 8 November, 2021. Section 148
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Q. What will happen when the revenue seized a documents, which is computer generated loose sheet and found during the search of third party who is neither assessee nor any authorized person of the assessee. The HIGH COURT OF DELHI in the case of PCIT vs. STC DEVELOPER PVT. LTD. Decided on Dec 15, 2021 on similar issue. Section 153C. Search & Seizure.
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Can show cause notice be called the draft assessment order. as required under sub clause (xvi) of sub Section (1) of Section 144B?
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Can AO made the addition u/s. 41(l)(a) by holding cessation of liability even when there is litigation in the court? ITAT Mumbai passed the order in the case of Dcit-8(2)(2), Mumbai vs M/S Surbhit Impex Pvt. Ltd., … on 17 September, 2021