ITAT in case of Soma Rani Ghosh vs. Deputy Commissioner of Income Tax, Kolkata held that Section 194C (6) and
Category: ITAT
Addition based on statement alone cannot be sustained
The addition based on statement alone that too based on mistaken facts and retracted cannot be sustained. – ITAT Delhi
If section 172 applies section 194C and 195 will not apply
The CBDT Circular No. 723 dated 19.09.1995 clearly lays down that in case of payments made to foreign shipping companies, provisions
AO Cannot Replace the Value by Estimation
Unless AO possesses some evidences, demonstrating the fact that full value of the consideration disclosed by the assessee was incorrect,
Prior Period Expenditure allowed if National Buildings Construction Ltd Vs. ACIT Delhi
If Settlement amount is excess than the amount claimed earlier or short settlement of claims of income from clients is
Assessee has right to get Adequate Opportunity of Being Heard
Sufficient opportunity has not been given by the Ld. First Appellate Authority to the assessee for substantiating its claim before