AO not permitted to make additions beyond revision order issued u/s 263: ITAT Citation of the Case: Sri Manoj Murarka vs. ACIT (Kolkata ITAT), Income Tax Appeal No. 1703 of 2014 and 2015 of 2014, Date of Judgment: 20/11/2015 Brief of the Case Kolkata ITAT held In the case of Sri Manoj Murarka vs. ACIT […]
Time to Remind for Timely Issue of TAR / ITR Forms & Utilities for A.Y. 2016-17 It is generally expected that the Income Tax Return (ITR) forms and Tax Audit Report (TAR) form and utilities for uploading them on the website of the Income Tax Department should become finally available for public use, as on […]
Diagnostic Labs to deduct TDS on discount given to hospitals/laboratories U/s. 194H Case Law Citation: -M/s DDRC SRL Diagnostic P Ltd. Vs. ITO (ITAT MUMBAI), ITA No.3872/Mum/2013, Date of Decision: 23.09.2015 Brief of the case: In the case of M/s DDRC SRL Diagnostic P Ltd. Vs. ITO Mumbai Bench of ITAT have held that If […]
If absence of exempt income disallowance u/s 14A not warranted Case Law Citation:– M/s Chhaganlal Khimji & Co. Vs. ACIT (ITAT MUMBAI), ITA No. 7629/Mum/2013, Date of Decision: 23.09.2015 Brief case of the case: In the case of M/s Chhaganlal Khimji & Co. Vs. ACIT Mumbai Bench of ITAT have held that that no disallowance […]
Addition for low GP ratio cannot be made if it is consistent with previous Years without any change in factual position Case Law Citation: –Satish Agarwal vs. DCIT (ITAT Jaipur) , IT Appeal No.-969/2013, AY 2008-09 ,Date of Pronouncement -24.09.2015 Issue No.- 1 Addition on account of low GP declared by assessee: Assessee declared GP […]