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Special Purpose Certificates Issued by ICAI Members – Comprehensive Professional Analysis under ICAI Guidance Note 2016
Special Purpose
Certificates Issued by ICAI Members – Comprehensive Professional Analysis under
ICAI Guidance Note 20161. Concept, Meaning and Legal CharacterA Special Purpose Certificate is a written
factual confir...
Unsubstantiated Addition Cannot Be Sustained — ITAT Grants Relief to Assessee in Vishwanath vs. ITO | Key Income-tax Case Law
Facts of the
CaseThe assessee, Vishwanath, was subjected to
assessment proceedings in which the Assessing Officer (AO) made additions to
income on the ground that certain transactions or receipts were not
satisfactor...
Addition Deleted Due to Lack of Proper Evidence — ITAT Grants Relief to Assessee in Vinod vs. ITO | Key Income-tax Case Law
Facts of the
CaseThe assessee, Vinod, was subjected to assessment
proceedings in which the Assessing Officer (AO) made additions to income on the
ground that certain receipts or transactions were not satisfactorily ex...
No Addition under Section 68 Without Books of Account — ITAT Holds Bank Statement Is Not Assessee’s Books | ITO vs. Sheetalaya
Facts of the
CaseThe assessee had deposited certain sums in a bank
account during the relevant assessment year but did not maintain regular books
of account. During assessment proceedings, the Assessing Officer (AO) t...
Addition Without Supporting Evidence Deleted — ITAT Grants Relief to Assessee in Purushottam vs. ITO | Key Income-tax Case Law
Facts of the
CaseThe assessee, Purushottam, was subjected to
assessment proceedings in which the Assessing Officer (AO) made additions to
income on the ground that certain receipts, transactions, or amounts were not
...
Addition Based on Presumptions Not Sustainable — ITAT Grants Relief to Assessee in DHSL vs. ITO | Key Income-tax Case Law
Facts of the
CaseThe assessee, DHSL, was subjected to assessment
proceedings wherein the Assessing Officer (AO) made additions to income on the
premise that certain receipts or transactions were not satisfactorily
ex...
Educational Institution Entitled to Exemption — ITAT Deletes Addition Against Bal Bharti School | ITO vs. Bal Bharti
Facts of the
CaseThe assessee, Bal Bharti, was running an
educational institution engaged in imparting education. During assessment
proceedings, the Assessing Officer (AO) denied exemption and treated certain
receipt...
Addition Unsustainable Without Proper Evidence — ITAT Grants Relief to Assessee in ITO vs. Bharat | Key Income-tax Case Law
Facts of the
CaseDuring assessment proceedings, the Assessing
Officer (AO) made additions to the assessee’s income on the ground that certain
transactions or receipts were not satisfactorily explained. The AO treate...
ITAT Allahabad: Addition on KVP Accrued Interest and Bank Deposit Remanded — Additional Evidence Admitted Where Assessee Prevented by Sufficient Cause | Shiv Mani Tripathi v. ITO (AY 2011-12)
Facts of the CaseThe assessee filed an appeal before the Income Tax Appellate
Tribunal (ITAT), Allahabad Bench, against the order of the Commissioner of
Income Tax (Appeals) for Assessment Year 2011-12. The lower autho...
Section 54 Deduction Allowed for Investment in Residential House Outside India (Pre-2014 Amendment) — ITAT Allahabad in ITO v. Raghav Wadhawan, Following Gujarat HC in Leena Jugalkishor Shah
Facts of the CaseThe assessee claimed deduction under Section 54 of the
Income-tax Act on capital gains arising from transfer of a property, on the
ground that the gains were invested in a residential house property lo...