Weekly DT Digest

HC: Expresses doubt on ITAT invoking TP-mechanism absent AO's directions while deciding Sec 36(1)(iii)-interest allowability

Bombay HC expresses doubt on whether ITAT can give a direction to invoke TP-mechanism while in the appeal

Jan 26,2019

ITAT: Deletes addition of unexplained silver utensils belonging to married-lady, holds within permissible limits

Indore ITAT deletes addition of unexplained silver utensils found in the locker of assessee-individual (a married lady) during

Jan 25,2019

ITAT: Carrying 'awareness' program for eradication of HIV AIDS, a charitable activity u/s. 2(15)

Delhi ITAT cancels the order passed by CIT(E) withdrawing registration u/s 12AA granted to India HIV/ AIDS Alliance

Jan 25,2019

ITAT: Quashes AO's rejection of books ; Acknowledges livestock business dealings with un-organized sector

Delhi ITAT deletes addition made by AO on individual-assessee(engaged in business of livestock/meat) by estimating income @ 2%

Jan 18,2019

ITAT: Payment for obtaining geophysical and geological data not FTS/royalty under India-USA DTAA

Delhi ITAT holds that payment made by the assessee to the US company for obtaining geophysical and geological

Jan 18,2019

SC: Dismisses SLP; HC held grant-in-aid to Govt. company, a capital receipt

SC dismisses the Revenue's SLP against HC order holding that receipt of grant-in-aid by the assessee (Government company)

Jan 18,2019

HC: Upholds penalty u/s 271(1)(c) despite concealed income fully disclosed and accepted in assessment

Bombay HC upholds ITAT's order levying penalty u/s 271(1)(c) irrespective of the fact that the concealed income declared

Jan 18,2019

ITAT: Quashes Sec.263-order; Rejects plea of AO's deaf ear towards commission for bogus capital-gains

Delhi ITAT quashes Pr. PCIT's revisionary order u/s 263 for AY 2014-15, rules that as the AO had

Jan 18,2019

ITAT: No TDS on cost-to-cost reimbursement to overseas affiliates; Deletes disallowance u/s 40(a)(i)

Delhi ITAT deletes disallowance u/s 40(a)(i) for TDS non-deduction on reimbursement by assessee to its overseas affiliates towards

Jan 18,2019

ITAT: Deletes addition towards difference in income as per books & Form-26AS, absent receipt

Ahmedabad ITAT deletes 'undisclosed income' addition made by AO with respect to difference in income declared by assessee-firm

Jan 18,2019