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ITAT - Gift received by the assessee from his brother-in-law is exempted from tax under section 56 - Instead of relative as provided by the statute “blood relative” has been considered by the AO and as a result whereof addition was made which is absolutely erroneous.
DCIT, CENTRAL CIRCLE -2, BARODA. VERSUS SHRI ARVIND N. NOPANY
(2019) TaxCorp(LJ) 16585 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=70158&Category=ITAT&CategoryType=Zip
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ITAT - The objects of cricket associations clearly demonstrate that these cricket associations exist and operate purely for the purpose of promoting cricket - When proviso to Section 2(15) cannot be invoked , the benefits of Section 11 and 12, which were declined only by invoking the proviso to Section 2 (15), could not have been declined.
GUJARAT CRICKET ASSOCIATION, BARODA CRICKET ASSOCIATION AND SAURASHTRA CRICKET ASSOCIATION VERSUS JOINT COMMISSIONER OF INCOME TAX (EXEMPTIONS), AHMEDABAD
(2019) TaxCorp(LJ) 16566 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=70027&Category=ITAT&CategoryType=Zip
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ITAT - Sec. 11 benefit granted to Gujarat Cricket Associations despite holding of IPL matches.
Gujarat Cricket Association and others Vs Joint Commissioner of Income Tax
(2019) TaxCorp(LJ) 16552 (ITAT-AHMEDABAD) · Section 11
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ITAT - Exemption under s.11(1)(a) of the Act i.e. 15% of the income is unfettered and not subject to any conditions.
INCOME TAX OFFICER (EXEMPTIONS) , WARD – 2, AHMEDABAD VERSUS UTTHAN SEWA SANSTHAN
(2019) TaxCorp(LJ) 16546 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=69959&Category=ITAT&CategoryType=Zip
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ITAT - Merely because a payment is reflected in AS-26 and is shown to have been made to the assessee, it cannot be brought to tax in his hands when the said money is not received by the assessee.
Yash Corporation Vs ITO
(2019) TaxCorp(LJ) 16484 (ITAT-AHMEDABAD)
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ITAT - TOnce the donor has agreed/confirmed that he had given a gift to the assessee, then the same cannot be denied merely on the ground that the Gift Deed was not prepared at the relevant time. No penalty u/s. 271D.
Hareshkumar Becharbhai Patel Vs JCIT
(2019) TaxCorp(LJ) 16482 (ITAT-AHMEDABAD)
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ITAT - Since the amount of expenses represented on account of loss on sale of fixed assets and travelling expenses cannot be linked with the expenses incurred for the purpose of earning the exempted income, therefore to be excluded while computing disallowance u/s 14A.
RAMNIKLAL H. AMBANI VERSUS DCIT, CIRCLE – 5 (2) , AHMEDABAD.
(2019) TaxCorp(LJ) 16451 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=69286&Category=ITAT&CategoryType=Zip
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ITAT - Since the assessee being a juridical person, even if there is some element of personal use of car by the directors, it continues to be for business purposes of the assessee nevertheless - Claim of expenses allowed.
ANJANI SYNTHETICS LTD. VERSUS THE DY. COMMISSIONER OF INCOME-TAX, CIRCLE 1 (1) (2) , AHMEDABAD
(2019) TaxCorp(LJ) 16441 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=69577&Category=ITAT&CategoryType=Zip
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Guidelines specified to ensure expeditious hearing of cases referred to Special Benches and Third Members: Inordinate delay in fixation of hearing of Special Bench & Third Member cases is inappropriate and contrary to the scheme of the Act. It also reduces the efficacy and utility of the mechanism to deal with important matters
Doshi Accounting Services Pvt Ltd vs. DCIT
(2018) TaxCorp(LJ) 16370 (ITAT-AHMEDABAD)
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ITAT - ITAT SB issued guidelines with a view to ensure the expeditious hearing of cases referred to Special Benches and Third Members.
Doshi Accounting Services Pvt Ltd. Vs Deputy Commissioner of Income Tax
(2018) TaxCorp(LJ) 16363 (ITAT-AHMEDABAD)
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ITAT - There was no cogent material to support assessee’s plea that 'cash deposits' were made out of old savings. Addition sustained.
Rakeshkumar P. Patel Vs DCIT (International Taxation)-1
(2018) TaxCorp(LJ) 16360 (ITAT-AHMEDABAD)
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ITAT - Notice for reassessment was served upon the part time accountant, who was not authorized to receive any document on behalf of the assessees - Quashes re-assessment.
Smt. Sarojben Manubhai Shah Vs The ITO
(2018) TaxCorp(LJ) 16328 (ITAT-AHMEDABAD)
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ITAT - Despite details regarding nature and backdrop of receipt being available, AO did not examine the taxability of income component of the disbursement from the family trust. No addition u/s 69.
Pratibha Pankaj Patel Vs Deputy Commissioner of Income Tax
(2018) TaxCorp(LJ) 16048 (ITAT-AHMEDABAD) · Section 69
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S. 254/ 36(1)(vii): If the AO has failed to discharge his obligation to conduct a proper inquiry, it is the obligation of the ITAT to ensure that effective inquiry is carried out. The AO has not examined the crucial aspect whether the bad debts claimed by the assessee due to the NSEL scam constitutes a "speculative transaction" u/s 43(5) and whether Explanation to s. 73(1) applies
Omni Lens Pvt. Ltd vs. DCIT
(2018) TaxCorp(LJ) 16011 (ITAT-AHMEDABAD) · Sections 36(1)(vii), 254
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S. 2(14)/ 28(va): The "right to sue" which arises on breach of a development agreement is a "personal right" and not a "capital asset" which can be transferred. Consequently, the damages received for relinquishment of the "right to sue" is a non-taxable capital receipt (all judgements considered)
Bhojison Infrastructure Pvt. Ltd vs. ITO
(2018) TaxCorp(LJ) 15839 (ITAT-AHMEDABAD) · Sections 2(14), 28(va)
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ITAT - Adhoc disclosure was shown in the return with a rider that any undisclosed entry/income/transaction worked during the course of the block assessment proceedings will be set off against this Adhoc disclosure - Appellant entitled for the legitimate claim.
SHREE KANTIBHAI REVABHAI PRAJAPATI VERSUS THE ACIT, CENTRAL CIRCLE 1 (4), AHMEDABAD
(2018) TaxCorp(LJ) 15729 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=66800&Category=ITAT&CategoryType=Zip
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S. 263 Revision: Even after the insertion of Explanation 2, the CIT has to show that the view of the AO is wholly unsustainable in law. It is only in a very gross case of inadequacy in inquiry or where inquiry is per se mandated on the basis of record available before the AO and such inquiry was not conducted, the revisional power so conferred can be exercised to invalidate the action of AO. Otherwise, every order of the AO would become susceptible to S. 263 and, in turn, will cause serious unintended hardship to the tax payer concerned for no fault on his part
Torrent Pharmaceuticals Ltd vs. DCIT
(2018) TaxCorp(LJ) 15497 (ITAT-AHMEDABAD) · Section 263
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S. 90(2) DTAA: The failure to submit a 'Tax Residency Certificate' (TRC) as required by s. 90(4) is not a bar to the grant of benefits under the DTAA. However, the assessee is required to produce reasonable evidence of the entitlement of the foreign entity to benefits under the DTAA
Skaps Industries India Pvt. Ltd. vs. ITO
(2018) TaxCorp(LJ) 15258 (ITAT-AHMEDABAD) · Section. 90(2)
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ITAT - Sec. 90(4), in the absence of a non-obstante clause, cannot be construed as a limitation to the treaty superiority u/s. 90(2) over domestic law. Therefore, mere non-furnishing of Tax Residency Certificate cannot be treated as a trigger to disentitle the India-US DTAA benefits.
Skaps Industries India Pvt. Ltd. Vs. ITO
(2018) TaxCorp(LJ) 15246 (ITAT-AHMEDABAD) · Sections. 90(4)
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ITAT - Gains arising on sale of shares by NRI through NRI-PIS SBI account as per FEMA Regulations, is chargeable under the head ‘capital gains’ and not under 'business income'.
Mulshankar Saburbhai Panchal vs. DCIT
(2018) TaxCorp(LJ) 15237 (ITAT-AHMEDABAD)
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