Claim of depreciation as an application of income towards the ...

Assessee's Appeal on Depreciation Claim Restored to CIT(A) Due to Lack of Diligence in Attendance.

October 28, 2020

Case Laws Income Tax AT

Claim of depreciation as an application of income towards the income earned by the assessee society - It was the bounded duty of the parties i.e. assessee as well as the Department to appear before the Ld. CIT(A). Since, this was the assessee’s appeal, therefore it was all the more important for the assessee to appear before Ld. CIT(A). However, the assessee had not acted with due diligence - Matter restored before CIT(A) - AT

View Source

← Previous Next →

Claim of depreciation as an application of income towards the ...

Assessee's Appeal on Depreciation Claim Restored to CIT(A) Due to Lack of Diligence in Attendance.

October 28, 2020

Case Laws Income Tax AT

You may also like:

Penalty u/s 271(1)(c) for furnishing inaccurate particulars of income - adjustment made u/s 92CA - penalty levied u/s 271(1)(c) on the adjustment made u/s 92CA is not...

This circular specifies due diligence requirements for Alternative Investment Funds (AIFs) to prevent circumvention of regulatory frameworks. Key points include: AIFs...

Classification of imported goods - T4 Fingerprint Time & Attendance System and K200 Proximity Time & Attendance System - the product is rightly classifiable under Chapter 8543 - AT

The ITAT dismissed the condonation petition filed by the assessee for a delay of 2655 days in filing an appeal. The assessee's contention of handing over appeal papers...

The NCLAT dismissed the appeal filed by the Appellant challenging the approval of the resolution plan for the Corporate Debtor. The key points are: The Interim...

Penalty u/s 112 (a) - CHA - Lack of due diligence and failure to take more precautions can not, by itself, bring in penal consequences

Income–tax (15th Amendment) Rules, 2016 - Amendments in Due diligence requirement - Notification

Chartered accountant held guilty of professional misconduct under clause (7) of Part I of Second Schedule to the Act for lack of due diligence and gross negligence in...

Condonation of delay of 439 days - sufficient cause - lack of proper advice - appeal filed against assessment order before the CIT (A) within time but no Challenge of...

Disallowance of claim u/s 80 IB - The watchmen performing the duties like packaging, preparing gate pass, maintaining attendance register etc included in computation of...

Power of RP to admit the Claims suo-motu - There is no such provision that the IRP shall admit the Claim without filing a Claim either in Form-B or in Form-C. - the IRP...

HC dismissed the appeal concerning condonation of delay in filing second appeal regarding misdeclaration of imported Brass Ceramic Cartridges. The appellant failed to...

Rejection of claim filed by appellant - Appellant states that the Respondent / CD, did not perform its part of the contract from its inception and did not establish the...

RP rightly rejected belated claim filed by Appellant much beyond extended 90-day period from public announcement as per IBC and CIRP Regulations. RP lacks adjudicatory...

Condonation of delay - Delay in filling of an appeal before ITAT - The ITAT observed taht the appeal was delayed by 17 days. The assessee claimed the delay was due to...

Quick Updates: