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Where the assessee has followed mercantile system of accounting and distributing the liability to pay to sales tax and not making provision in its books of accounts particularly when the demand raised on the basis of the sales made during the accounting year the assessee entitled to deduct the amount of sales tax on the basis of the liability incurred and even in the absence of entries in the books of accounts, the same is admissible.
GUJARAT STATE ENERGY GENERATION LTD. – GSEGL VERSUS JOINT COMMISSIONER OF INCOME TAX, GANDHNAGAR RANGE, GANDHINAGAR.
(2020) TaxCorp(LJ) 20900 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=81514&Category=ITAT&CategoryType=Zip
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It is because the time permitted under the statute for selecting the case under scrutiny was up to 30 September 2012 but there was no notice issued for the scrutiny assessment. In this regard we find support and guidance from the order in the case of Krishna Kumar Singhania Vs. DCIT wherein unless there was no any incriminating material found during the course of search relatable to concluded year 2009-10.
DEPUTY COMMISSIONER OF INCOME-TAX CENTRAL CIRCLE-2 (4) AHMEDABAD VERSUS INDIA RETAI L PRODUCT PVT. LTD.
(2020) TaxCorp(LJ) 20884 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=81463&Category=ITAT&CategoryType=Zip
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The losses resulting from CCM can be classified in different categories based on the extent and magnitude of modification of the client code, directs AO to delete additions w.r.t category 'Distance 1' - genuine error in punching of client codes of only one digit and category 'Distance -2' - since the modification resulted in shifting of profits/losses in both the ways resulting in it being detrimental to the assessee and confirms additions w.r.t other 2 categories.
Amitkumar Amulkhrai Shah HUF Vs The DCIT
(2019) TaxCorp(LJ) 20743 (ITAT-AHMEDABAD)
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The main object of the assessee is contribution towards planned and controlled development for the entire urban development area and such activity falls under the category of 'advancement of general public utility. When the activities of the assessee can be said to be in the nature of trade, commerce and business, considering the proviso to Section 2(15), the activities of the assessee cannot be said to be for charitable purpose.
DY. COMMISSIONER OF INCOME-TAX (EXEMPTIONS) , AHMEDABAD VERSUS RAJKOT URBAN DEVELOPMENT AUTHORITY
(2020) TaxCorp(LJ) 20724 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=81081&Category=ITAT&CategoryType=Zip
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A.O. merely initiated penalty proceedings separately for violation of Section 269SS of the I.T. Act. He did not record any satisfaction under section 271D of the I.T. Act before initiating the penalty proceedings under section 271D of the I.T. Act. Further, the explanation of assessee on merit clearly suggest that assessee had a "reasonable cause" for violation to comply with the provisions of Law because no cash given directly to assessee but deposited at Shilong Branch over which assessee did not have any control.
VIRAL CHETANKUMAR PATEL VERSUS THE ADD. CIT, GANDHINGAR RANGE, GANDHINAGAR, AHMEDABAD
(2019) TaxCorp(LJ) 20707 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=81022&Category=ITAT&CategoryType=Zip
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Technical service payments made by assessee-company to a resident/national of South Korea during AY 2015-16, shall not be taxable in India in view of Article 15 of the India-Korea DTAA on Independent Personal Services. There is absent fixed base in India. Therefore TDS u/s. 195 is inapplicable.
J.Korin Spinning Pvt. Ltd Vs The Income Tax Officer, (International Taxation)
(2019) TaxCorp(LJ) 20699 (ITAT-AHMEDABAD)
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Since the CIT(A) did not jurisdiction to replace the full sale consideration disclosed by the assessee with FMV, there was no need to examine the justification of valuation report in support of sale consideration shown by the assessee vis-à-vis FMV determined by the CIT(A). The assessee is entitled for claim of capital loss suffered by it on sale of shares amounting to Rs.5,17,82,554/-.
DCIT Vs Shreno Limited
(2019) TaxCorp(LJ) 20692 (ITAT-AHMEDABAD)
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Genuineness of the payment of the wages to the temporary staff cannot be suspected as it was subject to professional tax and Provident fund. Once the genuineness of the expenses is established, then in our considered view the AO cannot occupy the armchair of the assessee and direct it to make the payment of wages at particular rate. As such it was the wisdom of the assessee for making the payment of the wages at the particular rate which cannot be questioned by the AO.
M/S. RADIANT HITECH ENGG. PVT. LTD. VERSUS ASST. COMMISSIONER OF INCOME TAX CIRCLE-4 BARODA
(2019) TaxCorp(LJ) 20689 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=80964&Category=ITAT&CategoryType=Zip
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ITAT - Demand raised u/s. 201(1) and 201(1A) for non-deduction of TDS on LTA reimbursement on employees' foreign travel is sustainable.
State Bank of India Vs The ITO
(2019) TaxCorp(LJ) 20619 (ITAT-AHMEDABAD)
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Though the liabilities had ceased to exist as far as the assessee was concerned, the trade creditors had not waived their rights to receive it and the partners were now liable to pay such amount.
M/s Dharamtar Motor Services Petroleum Product Vs Income Tax Officer
(2019) TaxCorp(LJ) 20547 (ITAT-AHMEDABAD) · Sections 68, 41(1)
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S. 92 Transfer Pricing: Even if an assessee is eligible for tax exemption at the rate of hundred percent under section 10A/10B of the Act, then also the arm’s length price on international transactions deserve to be determined under section 92C of the Act (all imp judgements referred)
Doshi Accounting Services Pvt. Ltd vs. DCIT
(2019) TaxCorp(LJ) 20519 (ITAT-AHMEDABAD) · Section 92
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Even if an assessee is eligible for tax exemption at the rate of hundred percent under section 10A/10B of the Act, then also the arm's length price on international transactions deserve to be determined under section 92C of the Act.
M/s. Doshi Accounting Services Pvt. Ltd., Vs DCIT
(2019) TaxCorp(LJ) 20499 (ITAT-AHMEDABAD) · Sections 10A, 92
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The court has awarded the interest on the enhanced compensation to the 5 parties. Therefore in our considered view the impugned interest income belongs to the 5 parties as claimed by the assessee. Assessee during the assessment proceedings has submitted the details of the parties who are entitled for the interest income along with the period to which the interest pertains.
NAVINBHAI MANILAL PATEL VERSUS INCOME TAX OFFICER, WARD-3, GANDHINAGAR.
(2019) TaxCorp(LJ) 20430 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=79083&Category=ITAT&CategoryType=Zip
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We have gone through the record carefully. Jurisdiction in the AO for passing the impugned order on the present issue was being infused by the order of the ld.Commissioner passed under section 263. Once that order was set side, then there is no issue remained to be inquired at the end of the AO. Power to pass fresh assessment order under section 143(3) r.w.s. 263 with the AO on this issue has been extinguished.
ITO, WARD-5 (2) (3) AHMEDABAD. VERSUS SMT. DARSHINIBEN M. ADANI
(2019) TaxCorp(LJ) 20389 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=78968&Category=ITAT&CategoryType=Zip
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The statutory notice under section 143(2) was issued before the death of the assessee. It is the settled law that the proceedings under section 143(3) of the Act cannot become fatal if the notice was issued under section 143(2) of the Act on the live person at that relevant time but died subsequently.
BHUMIKA NAVINBHAI PATEL, L/H OF NAVINBHAI PUNJABHAI PATEL VERSUS I.T.O, WARD-2 (2) , BARODA.
(2019) TaxCorp(LJ) 20302 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=78626&Category=ITAT&CategoryType=Zip
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Once the AO has accepted the interest cost as part of the project then the same treatment needs to be given even to the interest income by adjusting the same against the part of the project cost as the interest expense and income are inextricably linked.
Adani mining Pvt Ltd Vs DCIT
(2019) TaxCorp(LJ) 20283 (ITAT-AHMEDABAD) · Section 56
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Quasi-judicial authorities are being respected not on account of their power to legalize injustice on technicalities, rather on account of their power to remove such injustice.
Rudra Construction Vs DCIT
(2019) TaxCorp(LJ) 20282 (ITAT-AHMEDABAD)
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We are of the considered view that it would be reasonable and justifiable if average rate were applied for valuation of closing stock. We find that rate of opening stock was at ₹ 19.15 per kg. whereas closing stock was at ₹ 9.49 per kg. The average realization value is at ₹ 17.75 per kg. therefore, it would meet end of justice if average of 19.15+9.49+ 17.15= 46.14/3 = 15.83 per kg. may be adopted for valuation of closing stock as on 31.03.2010.
M/S. KAMAL OIL INDUSTRIES VERSUS JOINT COMMISSIONER OF INCOME-TAX, RANGE PATAN, MEHSANA
(2019) TaxCorp(LJ) 20266 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=78488&Category=ITAT&CategoryType=Zip
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A prima facie interference from the facts is that the sale transaction of shares on the last day of the financial year without independent corroborative evidences by way of adjustment of losses against the capital gain on lands were not genuine transaction.
Rakeshbhai Karsanbhai Patel Vs The D y. CIT
(2019) TaxCorp(LJ) 20247 (ITAT-AHMEDABAD)
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While total deposit in cash was found to be ₹ 33,42,622/-, there is simultaneous withdrawal to the extent of ₹ 30,50,000/- during the year. The cash book filed by the assessee showing day-to-day generation of cash and deposits thereof also makes it clear that the assessee is engaged in systematic activity of retail business.
JAYESH N BARAD, C/O JHS & ASSOCIATES LLP CHARTERED ACCOUNTANTS VERSUS THE DY. COMMISSIONER OF INCOME TAX CIRCLE – 1 (1) (1) , AHMEDABAD
(2019) TaxCorp(LJ) 20240 (ITAT-AHMEDABAD) · https://taxcorp.in/FileOpenDT.aspx?ID=78374&Category=ITAT&CategoryType=Zip
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