Income Tax

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ITAT INDORE on 5th Feb, 2020 held that when the penalty notice issued by the ‎assessing officer did not specify Which limb of section of the Act, the penalty ‎proceedings had been initiated i.e., Whether for concealment of particulars of ‎income or furnishing of inaccurate particulars of income or to say the matter ‎written in the body of the notice issued under section 274 of the Act does not refer ‎to the charges of provision of section 271AAB of the Act makes the alleged notice ‎defective and invalid and thus deserves to be quashed
सुप्रीम कोर्ट ऑफ इंडिया ने धारा 12AA पर फैसला देते हुए कहा कि कमिश्नर या चीफ कमिश्नर धारा 12AA में रजिस्ट्रेशन करने का ट्रस्ट या इंस्टिट्यूशन को इस आधार पर मना नहीं कर सकते कि अभी कोई चैरिटेबल एक्टिविटीज नहीं हुई है क्योंकि यह धारा रजिस्ट्रेशन के समय यह देखने के लिए है कि उद्देश्य चैरिटेबल है या नहीं।
दो या दो से ज्यादा रजिस्ट्री से मकान के लिए खरीदे गए दो बंगलों पर धारा 54f में छूट मिल जाएगी अगर दोनों पास पास है कारण कि बंगले different graphical area में नहीं है। हैदराबाद ट्रिब्यूनल ने 6Jan, 2020 को फैसला देते हुए कहा कि मकान बनाने के लिए जरूरी नहीं की एक ही रजिस्ट्री से खरीदा जाए।
The issue is restored to the file of the AO as the assessee was not provided adverse material used by the AO while framing assessment.
As per the insertion of the “Explanation” to sub-section (2) of section 11, if a trust donates its entire income for a year to another charitable trust, it would still be entitled to exemption under section 11(1)(a).
Eligible credit को मात्र इस आधार पर दिए जाने से मना नहीं किया जा सकता कि निर्धारिती ने TRAN-1 form सही नहीं भरा। सरकार या तो ऑनलाइन TRAN-1 सही करने का ऑप्शन दें या मैनुअली भरे हुए को सही मानकर क्लेम स्वीकार करें
No addition as undisclosed income can be made on the basis of documents which are dumb and incapable of any interpretation in proceedings u/s 132, 158BC read with Section 158BD.-IT-CASES-204-2020
Assessment framed in the name of non-existing entity/ died person is null and voidab initio ITAT BOMBAY on Nov 6, 2019
It is well settled that in case the books of accounts are rejected the income of the business in which the Assessee was engaged can be determined by estimating the profit rate considering past history.
Though the limitation period is available for passing the order, not for service but as per the settled issue, the order must be served on the assessee within the reasonable time otherwise Order is Annulled.