Home Highlights February 2015 Year 2015 This

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1. Evidentiary value of a statement made on oath by the assessee for making additions - The assessee can explain or withdraw the admission, if any, made by him in such...

2. Validity of recall of order - Whether the Tribunal was justified in recalling its earlier order on an application for rectification filed by the assessee - Held no,...

3. Dishonour of cheque - no order for conversion into summons triable matter - application of Section 145(2) of Negotiable Instruments Act, 1881 - violation of natural...

4. Request for recalling an order wherein the appeal was dismissed on the ground of delay in filing an appeal - assessee cannot expect the Tribunal to become a party to its...

5. Addition u/s 69A being cash deposit in the Bank A/c during the demonetization period - cash deposit out of the sale proceeds effected prior to the ban of currency notes...

6. Condonation of delay in filing in appeal - Since, in this case there was mistake on the part of the Assessing Officer, as he did not bring the addition made by him in...

7. Application for recalling of Ruling - Classification of goods - The interesting fact is the applicant has approached the Authority only in respect of the current...

8. Seeking recall of order - It is the appellant who had filed the early hearing application and, therefore, it was the duty of the applicant to follow the dates on which...

9. Addition made u/s 69C of the Income Tax Act for alleged cash payments based on a WhatsApp message and statement of a third party. The key points are: The WhatsApp...

10. TDS u/s 194C - payments made by the assessee to its affiliates - Payment towards face value of the meal vouchers to the affiliates - The entire scheme relating to...

11. Addition on account of loss in trading of stock option - suspicious trades including reversal trades - In the absence of any investigation carried-out by the authorities...

12. The assessee failed to substantiate the provision made for freight, material handling charges, and IT support expenses as an allowable expenditure. The assessee merely...

13. The Adjudicating Authority had the power to recall its earlier order, which contained factual mistakes, and pass a corrected order regarding the return of the Corporate...

14. CENVAT Credit - input services - Product recall insurance policy - it cannot be said that the Product Recall Policy Expenses is a post removal expenses, once it is...

15. Power of tribunal recalling an earlier order in exercise of powers for rectification u/s 254 - ITAT, by majority order, recalled the order - No reason was shown by the...