Home Highlights February 2015 Year 2015 This

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1. Revision u/s 263 - When the order of the AO suffers from a complete lack of enquiry, then the above said principle has no application due to the obvious reason that the...

2. The case pertains to the revision of an assessment order u/s 263 regarding the applicability of the higher tax rate u/s 115BBE on unexplained expenditure u/s 69C. The...

3. Binding nature of Tribunal Order - Principle of “consistency” - Not only the Tribunal but all the Authorities subordinate to it are bound to follow and comply with the...

4. Validity and scope of remand order of ITAT - At this stage, the learned counsel for the assessee contended that the Tribunal did not specify the years for which the...

5. Reference the matter to the larger bench of 3 members by the Single Member Bench - Even if the learned Member hearing this appeal found it difficult to accept the view...

6. Dishonour of Cheque - legality of judgment of acquittal - It was duly proved that the cheque was issued in discharge of the legal liability - The learned Trial Court did...

7. TP Adjustment - Selection of MAM - Perusal of para 5 of the order giving alleged reasons by the learned Tribunal leaves more confusion than clarity. We are also...

8. Inter-state sale or local sale - The reason given by the learned Tribunal in its impugned order cannot be appreciated, that merely because the two parties viz., the...

9. TP Adjustment - determination of appropriate method - Matter remanded back to ITAT - We do not expect a further open remand by the learned Tribunal on the said issue any...

10. ITAT deleted additions in Block assessment - Surprisingly for the Grounds raised before the learned Tribunal that the undisclosed income did not belong to the Assessees...

11. Assessing Officer conducted due enquiries regarding cash deposits during demonetization period, called for details from assessee to substantiate source. AO applied mind,...

12. Dishonor of Cheque - complaint has been lodged beyond the statutory period of limitation - the instant case learned ACJM has acted beyond his jurisdiction by issuing...

13. The Appellate Tribunal addressed various Transfer Pricing (TP) issues. Regarding software services, the Tribunal upheld the selection of comparables by the assessee over...

14. Rectification of mistake u/s 154 - deduction u/s. 10A - View taken by the Ld. AO in the proceedings initiated u/s. 154 tantamount to a change in view resulting into...

15. The Appellate Tribunal addressed the validity of a revision u/s 263, focusing on the alleged non-consideration of the assessee's submissions by the Principal...