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Addition U/s 68 Should Be Restricted To Extent Of Gross Profit At Same Rate Of Genuine Purchases If Sales Are Not Disputed: Mumbai ITAT

While deleting the addition made u/s 68 of the Income Tax Act, the Mumbai ITAT held that in the absence of any dispute and discrepancy in the sales, the addition should be restricted to the extent. ....

Vimal Punmiya , Bombay High Court , Rahul Chaudhary , Judicial Member , Prashant Maharishi , Accountant Member , Haji Adam , Mumbai Itat , Eleting The Addition , S 68 Of The Income Tax Act , Gross Profit ,

Contribution Collected From Employees If Not Deposited Within Due Dates Prescribed As Per PF & ESIC Act, Is Dis-Allowable: Mumbai ITAT

The Mumbai ITAT recently clarified that mere deposit of employee s contribution before due date of filing return of income as per Section 139 of Income tax Act, will not make it eligible for. ....

Narendra Kumar Choudhry , Checkmate Services Pvt Ltd , Supreme Court , Provident Fund , Checkmate Services Pvt , Prashant Maharishi , Accountant Member , Judicial Member , Provident Fund Act , Assessing Office ,

No TDS Liability Can Be Fastened For Earlier Year If Taxpayer Was Not Aware Of Subsequent TDS Certificate Issued By Depositor: Mumbai ITAT

The Mumbai ITAT restored the matter back to the file of AO to consider the lower deduction of TDS certificates and give opportunity to the assessee to explain the case.The Bench of Amit Shukla. ....

Vodafone Idea Ltd , Amit Shukla , Judicial Member , Prashant Maharishi , Accountant Member , Vodafone Idea ,

Additions Made By AO Once Deleted By Appellate Authority With Reasoned Order, Merits Status Quo In Identical Cases: Mumbai ITAT

Relying upon the decisions of the Co-ordinate Bench, the Mumbai ITAT upheld the decision of CIT(A) in deleting the addition made u/s 68 read with section 147 of the Income Tax Act, 1961.The Bench. ....

Ram Krishna Kedia , Sandeep Singh Karhail , Ashish Agarwal , Supreme Court , Counsel For Appellant Department , Union Bank , Co Ordinate Bench , Income Tax Act , Judicial Member , Prashant Maharishi , Accountant Member , Preeti Construction , Ram Krishna , Mumbai Itat , Dditions Deleted , Appellate Authority , Unreasoned Order ,

Sec 68 Can Be Invoked Only If Taxpayer Fails To Explain Amount Found Credited In Its Books: Mumbai ITAT

The Mumbai ITAT upheld the CIT(A) s order to delete the addition made u/s 68 of the Income Tax Act, 1961 finding no unexplained cash credit in the books of assessee.The Bench of Pavan Kumar Gadale. ....

Pavan Kumar Gadale , Bhumika Patel , Counsel For Appellant Department , Income Tax Act , Judicial Member , Prashant Maharishi , Accountant Member , Mumbai Itat , Ection 68 Of Income Tax Act , Nexplained Credit ,