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Intimation issued under Section 143(1) is against first proviso to Section 143(1)(a), and entire exercise under Section 143(1) is invalid in law.
Arham Pumps Vs DCIT
(2022) TaxCorp(LJ) 29071 (ITAT-AHMEDABAD) · Section 143(1)
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The AO before drawing any adverse inference against the assessee, should have cross verified from the donors by issuing notice under section 133(6)/131.
Atul H. Patel Vs I.T.O.
(2022) TaxCorp(LJ) 29030 (ITAT-AHMEDABAD) · Section 68
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Commercial expediency of a businessman's decision to incur a particular expenditure cannot be tested on the touchstone of strict legal liability to incur such expenditure.
Deloitee Haskins and Sells Vs D.C.I.T.
(2022) TaxCorp(LJ) 28989 (ITAT-AHMEDABAD)
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Acquisition of assets as reflected in CWIP did not constitute extension of existing business and thus proviso to Section 36(1)(iii) was inapplicable.
Havmor Ice Cream Limited Vs The Deputy Commissioner of Income-tax
(2022) TaxCorp(LJ) 28968 (ITAT-AHMEDABAD)
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The transaction qualifies as an adventure in the nature of trade, and hence Section 50C inapplicable.
Kanubhai M. Patel Vs The ITO
(2022) TaxCorp(LJ) 28955 (ITAT-AHMEDABAD)
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Law clearly provides for deduction u/s 80IA to be granted after set off of unabsorbed depreciation.
Atul Ltd Vs The DCIT (OSD)
(2022) TaxCorp(LJ) 28863 (ITAT-AHMEDABAD) · Section 80-IA
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Since foreign exchange fluctuation arose on account of trading transactions and excess amount received due to upward revision of foreign exchange rate was part of sale proceeds only, said fluctuation was eligible for section 80-IC deduction.
Reckitt Benckiser Healthcare India Ltd Vs Add CIT
(2022) TaxCorp(LJ) 28745 (ITAT-AHMEDABAD) · Section 80
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An ad hoc disallowance of 10% of the total expenses for failure to substantiate the claim in entirety with evidences in the impugned year is highly unjustified and a disallowance of ₹ 5 lacs would be justified.
GUJARAT STATE LAND DEVELOPMENT CORPORATION LIMITED VERSUS DY. COMMISSIONER OF INCOME TAX, GANDHINAGA
(2022) TaxCorp(LJ) 28571 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=96010&Category=ITAT&CategoryType=Zip
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The assessee cannot be escaped from the penalty provisions in a situation where the income was determined on estimated basis.
M/S. MORAKHIA COPPER AND ALLOYS PVT. LTD. VERSUS A.C.I.T., TAX, CIRCLE-2 (1) (2) , AHMEDABAD.
(2022) TaxCorp(LJ) 28561 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95982&Category=ITAT&CategoryType=Zip
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In view of the language used in Section 57(ii), depreciation is allowable from rental income from letting of machinery, plant and furniture whereas in the instant case income received is interest from investment of surplus, and holds depreciation to be inadmissible.
Sports Authority of Gujarat Vs DCIT
(2022) TaxCorp(LJ) 28552 (ITAT-AHMEDABAD)
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There are other multiple factors which are strongly suggesting that the amount of loan was not recoverable, particularly, in the situations where the subsidiary company was incurring losses from the operations.
Torrent Pharmaceuticals Ltd Vs ACIT
(2022) TaxCorp(LJ) 28511 (ITAT-AHMEDABAD) · Sections 80HHC, 115JB
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There was no basis with the Ld. CIT(E) at all for arrive at his finding that the assessment order passed in the present case was in error by allowing the assessee exemption of 15% of its income from Government grants.
SOCIETY FOR DENTAL HEALTH EDUCATION & RESEARCH CIVIL HOSPITAL CAMPUS VERSUS ITO (E) WARD-2, AHMEDABAD
(2022) TaxCorp(LJ) 28506 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95913&Category=ITAT&CategoryType=Zip
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Revenue having not clearly established the violation of provisions of section 269SS of the Act by the assessee ,its entire case resting on interpretation of entry in a diary found during search,it is not a fit case for levy of penalty u/s 271D.
M/S. MADHUVAN CORPORATION VERSUS ADDL. CIT, CENTRAL RANGE, BARODA
(2022) TaxCorp(LJ) 28497 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95896&Category=ITAT&CategoryType=Zip
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Provisions of section 11(1)(d) specifying the income in the form of voluntary contributions made with a specific direction are independent of section 11(1)(a).
JT. CIT (EXEMPTIONS) (OSD) CIR. 2, AHMEDABAD. VERSUS DIVYA JYOTI TRUST TEJAS EYE HOSPITAL SUTHAR FALIYAAT & POST – MANDVI SURAT
(2022) TaxCorp(LJ) 28479 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95832&Category=ITAT&CategoryType=Zip
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Assessment framed under section 153C read with section 143(3) of the Act is not sustainable. Once the assessment in itself is invalid then the same cannot be revised under the provisions of section 263.
M/S. GREENSTONE AGRO PRODUCT & INFRASTRUCTURE (P) LTD. VERSUS P.C.I.T. (CENTRAL), AHMEDABAD.
(2022) TaxCorp(LJ) 28474 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95787&Category=ITAT&CategoryType=Zip
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Notwithstanding addition of assessee’s income on account of undervaluation of closing stock in the absence of any circumstances justifying the interference that assessee has consciously concealed its income, penalty under Section 271(1)(c) was not warranted.
M/S. SHETH SHIP BREAKING CORPORATION VERSUS JT. CIT, RANGE-1, BHAVNAGAR
(2022) TaxCorp(LJ) 28447 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95763&Category=ITAT&CategoryType=Zip
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Mere oral submissions or indication that evidences will be provided if revenue asked at later stage shows that the assessee was not at all dispensed the burden of proving his claim that the said income and expenses were part of agricultural income.
BALBHADRASINGH DILIPSINGH JADEJA PROP. OF BANSI ISPAT VERSUS ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-1 BHAVNAGAR
(2022) TaxCorp(LJ) 28430 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95732&Category=ITAT&CategoryType=Zip
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TDS under Section 194 is not required to be made unless the loan and advances are given to shareholder.
DEPUTY COMMISSIONER OF INCOMETAX, TDS CIRCLE, ASSISTANT COMMISSIONER OF INCOME-TAX, TDS CIRCLE VERSUS M/S. J.P. ISCON LTD. (FORMERLY KNOWN AS J.P. INFRASTRUCTURE LTD.) AND (VICE-VERSA)
(2022) TaxCorp(LJ) 28378 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95598&Category=ITAT&CategoryType=Zip
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If the assessee under wrong appreciation of facts and the law has not pressed the issue before the lower authorities, the same can be raised before the higher forum.
ARCHIT CORPORATION LLP (EARLIER KNOWN AS ARCHIT CORPORATION) VERSUS I.T.O., WARD-2 (3) BHAVNAGAR
(2021) TaxCorp(LJ) 28340 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95496&Category=ITAT&CategoryType=Zip
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There was no furnishing of inaccurate particulars of income by the assessee so as to attract penalty u/s 271(1)(c).
ASST. COMMISSIONER OF INCOME TAX, CIRCLE-3 (3) , AHMEDABAD VERSUS SHRI CHANDRAKANT G. PATEL
(2021) TaxCorp(LJ) 28339 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=95509&Category=ITAT&CategoryType=Zip
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