Addition of security charge reimbursed - Assessee failure to ...

Tribunal Overturns Prior Orders: No Legal Questions on Reimbursed Security and HVAC Charges in Profit and Loss Account.

October 30, 2021

Case Laws Income Tax HC

Addition of security charge reimbursed - Assessee failure to credit HV AC charges to P&L A/c - Having considered the breakup figures available in the P&L report and the clarification offered by the assessee, the Tribunal has rightly allowed the appeal setting aside the orders passed by the authorities. It is well settled law that these factual aspects having been considered by the Tribunal and on the finding of the Tribunal with respect to this factual aspects, no questions of law would arise. - HC

View Source

← Previous Next →

Addition of security charge reimbursed - Assessee failure to ...

Tribunal Overturns Prior Orders: No Legal Questions on Reimbursed Security and HVAC Charges in Profit and Loss Account.

October 30, 2021

Case Laws Income Tax HC

You may also like:

The High Court dismissed the appeal filed by the assessing officer against the order of the Income Tax Appellate Tribunal, holding that no substantial question of law...

The Tribunal set aside the disallowance of short-term loss claimed by the assessee in the Profit and Loss Account, holding that the shares were acquired under a normal...

Penalty u/s 271(1)(c) - An order in the name of dead person - The Appellate Tribunal acknowledged that the penalty order was indeed issued in the name of a deceased...

Doctrine of merger applied to impugned order of Appellate Tribunal imposing penalty on appellant. Held that since Supreme Court's judgment on appeal against Tribunal's...

Gross violation of CBEC instructions and the precedential value of CESTAT decisions. The Revenue filed an appeal before the first Appellate Authority without specifying...

The High Court held that the order u/s 263 made no reference to the issue of depreciation, and the Tribunal had correctly answered the question by stating that the...

Disallowance of loss on sale of Government Securities - permissible business loss or not? - The Tribunal disagreed with the AO's presumption that the securities were not...

Validity of order passed u/s. 147 against deceased assessee - Citing Section 159(2) of the Act and judicial precedents, the Tribunal emphasized that no order can be...

Assessment proceedings against one of the legal heirs - deceased/assessee had admittedly more than one legal representatives - Despite the legal heir's explicit...

Scope of order of the tribunal - The Tribunal has failed to record any reasons with respect to seven out of eight questions raised in the reference applications. It is...

Prior period expenditure - when prior period income is taxed prior period expenditure cannot be disallowed - AT

HC held that the Appellate Tribunal's dismissal of the legal representative (LR) petition was improper. The tribunal erroneously applied CPC Order 22 provisions to a...

Legal question can be raised at the stage of the appeal and such a question need not be raised as a ground. It can be argued by a counsel at the time of hearing. When...

ITAT allowed the taxpayer's appeal, rejecting the AO's disallowance of commission and sales incentives. The tribunal found no principal-agent relationship exists between...

The Assessing Officer (AO) failed to conduct relevant inquiries regarding the shares held as penny stocks by the assessee in GCM Securities Ltd. The Principal...

Quick Updates: