×Latest Case Laws on Income Tax by various Income Tax Appellate Tribunals in India
These are the latest case laws decided by various Income Tax Appellate Tribunals (ITAT) of India on Income Tax which have been published recently. The case laws are open for discussion and we invite expert comments from our members on its applicability and effect on relevant issues.
This appeal is filed by the Assessee against the Order dated 27.3.2018 passed by the Ld. CIT(A), Muzaffarnagar relating to assessment year 2009-10 on the following grounds:-
1. That the notice issued u/s 148 and reassessment order passed u/s 147 r.w.s. 144 are illegal, bad in law and without jurisdiction.
2. That, in view of the facts and circumstances, no satisfaction is recorded by the assessing officer as required u/s 147/148 of the Act prior issuing the notice under section 147 of the Income Tax Act, 1961.
3. That, no satisfaction has been recorded-.by the assessing officer after application of mind on the basis of tangible material, which have live nexus to the income, which have escaped assessment and merely relied on the information received from AIR, which is vague, incorrect and baseless, hence, the proceedings initiated is illegal, bad in law and without jurisdiction. The CIT (A) has erred in upholding the validity of the proceedings initiated U/s 147 read with section 148.
4. The addition/ disallowances made by the assessing officer are illegal, unjust, highly excessive and are not based on any material on record by the assessing officer. The total income of the appellant has been wrongly and illegally computed by the assessing officer at Rs.25,13,675.00 as against declared income of
Rs.63,675.00 alongwith Agr culture Income at Rs.l,00,000.00.
5. That, in view of the facts and circumstances, the assessing officer has erred in law and on facts in making the addition of Rs.24,50,000.00 on account of Undisclosed Sources to the income of the assessee, , which is highly arbitrary, unjust and against the facts and circumstances of the case.
6. That, the CIT (A) has failed to appreciate, that, the CASH deposited, int eh bank is duly covered from the advance received from Shri Om Prakash against the Sale ofLand by the assessee, which has been appeared U/s 131 and statement was recorded on Oath and accepted the above stated fact.
7. That, the assessing officer has failed to appreciate, that, the source of CASH deposit has been explained, hence, the addition made by the assessing officer and upheld by the CIT (A) is purely based on presumption and surmises and conjecture without appreciating the facts of the case.
8. That the Assessing Officer/CIT(A), in view of the facts and circumstances of the case erred on facts and in law in making the ad-hoc addition/ disallowance on estimated basis, which is unjust, arbitrary, unlawful, highly excessive, based on surmises and conjectures and cannot be justified by any material on record.
9. The additions confirmed and the observations made by CIT (A) are unjust, unlawful and based on mere surmises and conjunctures. The additions made cannot be justified by any material on record.
10. That the explanation given evidence produced, material placed and available on record has not been properly considered and judicially interpreted and the same do not justify the additions/ allowances made.
11. That the impugned Assessment Order passed by the Assessing Officer and order passed by CIT(A) are against the principles of natural justice and the same has been passed without affording reasonable and adequate opportunity of being heard.
12. That the interest U/s 234A & 234B has been wrongly and illegally charged as the appellant could not have foreseen the disallowances/additions made and could not have included the same in current income for payment of Advance tax. The interest charged under various sections is also wrongly worked out.
13. The appellant craves leave to add, amend, alter and or modify the grounds of appeal of the said appeal. All of the above grounds of appeal are without prejudice and are mutually exclusive to each other.