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Dinesh Kumar Singh v. Pr. CIT (ITAT Allahabad): Validity of Revision under Section 263 — When Assessment is Not “Erroneous and Prejudicial to Revenue”
Facts of the CaseThe assessee, Shri Dinesh Kumar Singh, was subjected to
scrutiny assessment under Section 143(3) of the Income-tax Act. Subsequently,
the Principal Commissioner of Income Tax (PCIT) invoked revisionary...
ITAT Allahabad Recalls Ex-Parte Order under Section 254(2): Fresh Hearing Allowed on Additions for Unexplained Bank Deposits & MCX Transactions — Roop Narayan Pandey v. ITO (AY 2011-12)
Facts of the CaseThe assessee’s assessment for AY 2011-12 was reopened under
Section 147 based on information regarding commodity transactions on Multi
Commodity Exchange (MCX) and substantial cash deposits in a bank...
Hindi Sahitya Sammelan vs CCIT (ITAT Allahabad): Eligibility for Exemption u/s 10(23C)(vi) — Rejection Without Proper Examination Set Aside
Facts of the CaseThe assessee, Hindi Sahitya Sammelan, is an institution
engaged in educational activities related to Hindi language and literature. It
applied for approval under Section 10(23C)(vi) of the Income-tax A...
Commercial Auto Sales Pvt. Ltd. vs ADIT (ITAT Allahabad): Deduction of Employee PF/ESI Contributions Deposited Before Return Due Date — Allowability Under Sections 36(1)(va) & 43B
Facts of the CaseThe assessee, Commercial Auto Sales Pvt. Ltd., filed its
return of income for the relevant assessment year. During
processing/assessment, certain employee contributions toward PF/ESI were
treated as i...
Om Prakash Kushwaha vs ITO (ITAT Allahabad): Validity of Assessment and Additions Based on Information — Principles of Natural Justice Reaffirmed
Facts of the CaseThe assessee, Om Prakash Kushwaha, was subjected to assessment
proceedings by the Income Tax Department during which certain additions were
made to the returned income.These additions were based on inf...
Hanuman Prasad & Sons vs DCIT (ITAT Allahabad): Penalty u/s 272A(1)(d) Not Leviable for Belated Compliance of Notice u/s 142(1)
Facts of the CaseThe assessee, Hanuman Prasad & Sons, was subjected to
assessment proceedings during which notices under Section 142(1) of the
Income-tax Act were issued by the Assessing Officer seeking information...
Fatehpur District Co-operative Bank Ltd. vs ACIT (ITAT Allahabad): Deduction for Provision for Bad & Doubtful Debts u/s 36(1)(viia) — Scope for Co-operative Banks
Facts of the CaseThe assessee, Fatehpur District Co-operative Bank Ltd., is
engaged in banking activities as a co-operative bank. Reassessment proceedings
were initiated under Section 147 read with Section 143(3) for t...
Sudhir Kumar Tiwari (HUF) vs ITO (ITAT Allahabad): Cash Deposit During Demonetization Explained as Past Savings — Addition u/s 69A Deleted
Facts of the CaseThe assessee, Sudhir Kumar Tiwari (HUF), filed its return of
income for Assessment Year 2017-18 declaring a modest income. The case was
selected for limited scrutiny through CASS on the issue of cash d...
Pramod Kumar Tiwari vs DCIT (ITAT Allahabad): Scope of Adjustment u/s 143(1) — Addition Based on Form 26AS Cannot Exceed Income Already Declared
Facts of the CaseThe assessee filed the return of income declaring business
income and claiming deductions. The assessee was engaged as a commission agent
and received commission income reflected in Form 26AS.While pro...
Anurag Kumar Gupta vs ITO (ITAT Allahabad): Penalty u/s 271(1)(c) Unsustainable Where Income Based on Form 26AS Mismatch — Scope of Sections 143(3), 194C & 194J
Facts of the CaseThe assessee, Shri Anurag Kumar Gupta, proprietor of M/s
Anurag Enterprises, was engaged in business activities and filed the return of
income for the relevant assessment year.During assessment proceed...