Here is Portfolio page of Rajeev, with all his work

Rajeev -- Portfolio

Rajeev Kumar

Ask me

Burden to prove concealment/undervaluation of income is on revenue, held HC.
Nov. 03, 2015
Assessees purchased properties. AO made additions on basis of valuation by DVO. On appeal ITAT held, AO could not tax amounts merely based upon DVO's report in absence of any material pointing to under valuation. On appeal HC upheld ITAT decision relying upon CIT v. Bajrang Lal Bansal[2011] 335 ITR 572/200: Only when burden to prove concealment of income is discharged by revenue, it would be permissible to rely upon valuation given by DVO.-000291
Assessee was under bona fide belief of not liable for tax audit, penalty deleted
Jan. 13, 2016
Assessee was Govt. appointed licensed vendor for sale of stamps. AO held, total value of stamps was assessee's turnover & he was liable for audit u/s 44AB. On non-compliance AO levied penalty u/s 271B. On appeal, CIT(A) held AO justified in levying penalty. On appeal ITAT held, Govt. retained over all control over stamps, assessee was under bona fide belief of being not liable for audit of a/c u/s 44AB, thus, penalty imposed u/s 271B was deleted.
Assessee held entitled to deduct'n claim u/s 54 I.T.Act. as CBDT circular, ITAT
Dec. 11, 2015
Assessee in return showed amt. as long-term capital gain. It claimed deduct'n u/s 54D in respect of capital gain from sale of bungalow. AO held Sec. 54D applicable in case of compulsory acquisition of lands and buildings . Thus, rejected assessee's claim. CIT(A) allowed it on appeal as due to inadvertent typographical error wrong Sec. was mentioned. On appeal ITAT held, assessee entitled to deduct'n u/s 54 as per facts of case & CBDT circular.
Def. of rent u/s 194-I do not provide any item for vehicle hire charges, ITAT.
Nov. 03, 2015
Assessee developed areas. It hired cars on fixed rent & deducted tax at rate of 2% treating same as contract. AO raised demand for short-deduction of tax u/s 201 & interest u/s 201(1A). CIT upheld it. On appeal ITAT held, definition of rent u/s 194-I does not provide any item for vehicle hire charges. Therefore, provisions of Sec.194-I had been wrongly applied by AO. Thus, demand & interest thereon for short fall noted by AO were deleted.-010563
No provision regarding acceptance of resignation of director by company: CLB.
Nov. 06, 2015
Petition filed for direction to file Form 32 at office of ROC intimating petitioner's cessation from directorship. HC held, no provision in Co. Act or in regulations regarding acceptance of resign. of director by Co. In Art. of Co., no requirement of acceptance of resign. by Co., u/s Sec. 283, which prescribes vacation of office by directors for reasons, do not speak of acceptance of resign. Hence, director may at any time resign from his office.
As source & nature of amount received not proved, So held of assessable nature.
Nov. 02, 2015
ITO held amount as concealed income & imposed tax rejecting assessee's explanation. On appeal Tribunal & HC upheld ITO decision. On appeal SC held, assessee fails to prove satisfactorily source & nature of certain amount of cash received during accounting year, ITO is entitled to draw inference that receipts are of assessable nature. Thus, conclusion of Tribunal was amply warranted by facts of case & no ground for interfering with that finding.-0...
Art.7 of DTAA between India & Singapore held inapplicable, commi'sn held profit.
Dec. 24, 2015
AO held, assessee had paid Commission of Rs. 22.20 lacs to DLM a Singapore based Co., However, no TDS had been deducted in respect of commission so paid. As DLM provided services in India, thus he disallowed commission. On appeal CIT(A) deleted disallowance. On appeal ITAT upheld it holding, commission earned by DLM has was business profit of DLM & therefore, article 7 of DTAA entered into between India & Singapore will not be appli...
Perverse finding of fact based on no evidence can be set aside in appeal held HC
Nov. 03, 2015
Assessee claimed deduction of staff medical & welfare expenses, power & full expense & laminating expenses. AO disallowed part of it. On appeal CIT deleted disallowance & Tribunal modified order. On appeal HC held, settled law , if finding of fact is perverse & based on no evidence, it can be set aside in appeal even though appeal is permissible only on substantial question of law. Perversity of finding itself becomes substantial question of law....
Assesse's edu. sty. given reg. u/s 12A as fulfilled necessary conditions. ITAT
Dec. 11, 2015
Assessee (educat'nl sty) sought reg. u/s 12A. It was denied on many ground including that sty. was charging fees over & above fees prescribed by Govt. Thus, can't be held charitable sty. On appeal, ITAT held, there can't be any doubt that one of objects of sty. is to impart educat'n & for achieving it, assessee has established educat'nl institut'n & is imparting educat'n. Therefore, there can't be any doubt with regard to its ch...
Collector has power to release defaulter if amount due is paid.
Oct. 30, 2015
Assessee was arrested on ground of will fully with holding payment of arrears of tax & for tax evasion. On appeal HC set him free. On appeal SC held against HC decision stating that, Collector has power to release defaulter if amount due is paid. One of conditions precedent to action u/s 48 is existence of arrears of revenue. On payment of arrears, that condition no longer exists & debtor must clearly be entitled to release & freedom from arrest....

Here is business page of Rajeev, with all his work

About Portfolio

Welcome to the Market

You are at the Mall

Make money by giving answers

Ripples not for everyone

Work at times when you like

Marginalia on Sale

Diary on Sale

Simple Videos on complicated business maters

Start Earning

Shows all items that can make you money

Dashboard

Quaremon

Shocks n Mocks

Job Harbor

For Sale

Yearwise

Premium

Sorry, phoning is not for you. You need to be atleast on Princess plan to make calls.

Do you want to subscribe ? I would give you a free coupon to help you start calling.

Ok , no issues, if you have a question then you can try the search feature at quaremon.

Rajeev -- Portfolio

Please give testimonial...

Rajeev Kumar

My dear ,

My dear ,

My dear ,

Shyam, I welcome you to booking page

Welcome Shyam,

Hello Shyam,

Sorry, phoning is not for you. You need to be atleast on Princess plan to make calls.

Do you want to subscribe ? I would give you a free coupon to help you start calling.

Ok , no issues, if you have a question then you can try the search feature at quaremon.