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ITAT - Conditions precedent for allowability of labour charges for repairing of vehicles
The DCIT Patan Circle Patan Versus Gayatri Construction Co.
(2015) TaxCorp(LJ) 5124 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=39376&Category=ITAT&CategoryType=Zip
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ITAT - Remuneration paid to full time secretary of trust, which was about 1 per cent of total value of activities of trust, could not be said to be excessive or unreasonable so as to warrant disallowance under section 13(1)(c)
PNR Society For Relief & Rehabilitation of Disabled Trust v. Deputy Director of Income-tax (Exemption)
(2014) TaxCorp(LJ) 4910 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=37761&Category=ITAT&CategoryType=Zip
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ITAT - Ad-hoc disallowance u/s 40(a)(ia) justified since books didn't show true state of affairs on job charges paid to affiliate
Amrut Textiles v. Income-tax Officer
(2014) TaxCorp(LJ) 4896 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=36791&Category=ITAT&CategoryType=Zip
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ITAT - Since Commissioner (Appeals) had given relief to assessee by admitting and relying on additional evidence which was not before Assessing Officer, matter was to be restored back to file of Assessing Officer for fresh adjudication as per law
Director of Income-tax (Exemption) v. Shree Nirman Foundation Charitable Trust
(2014) TaxCorp(LJ) 4879 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=38066&Category=ITAT&CategoryType=Zip
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ITAT - Amount waived by the lender bank is not an income u/s 2(24) and further Section 28 also does not include amount of loan waive by the lender u/s 41 cannot apply to this receipt in respect of this amount
DCIT Circle-5, Ahmedabad Versus Core Healthcare Ltd.
(2014) TaxCorp(LJ) 4871 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=39149&Category=ITAT&CategoryType=Zip
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ITAT - Depreciation available on civil structure and the electric fitting of windmill as these are part and parcel of the windmill and cannot be separated from the same
The ACIT Circle-6, Ahmedabad Versus M/s. Maharshi Udyog
(2014) TaxCorp(LJ) 4865 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=39132&Category=ITAT&CategoryType=Zip
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ITAT - As per Section 80IB, deduction is allowable in respect of income derived from the eligible housing project, thus statutorily allowable deduction to the assessee cannot be denied
M/s. Nilkanth Developers Versus The Income Tax Officer
(2014) TaxCorp(LJ) 4853 (ITAT-AHMEDABAD) · http://taxcorp.in/FileOpenDT.aspx?ID=39144&Category=ITAT&CategoryType=Zip
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ITAT - Licence fee paid to Dept of Telecommunication by telecom service provider as revenue expenditure since assessee is not exclusive user of licence facility
ACIT vs. Vodafone Essar Gujarat Limited
(2014) TaxCorp(LJ) 4799 (ITAT-AHMEDABAD)
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ITAT - No real income could accrue to the assessee under the agreement on a date prior to the date of completion of project; revision u/s 263 not valid
MSK Highways Ltd vs. CIT
(2014) TaxCorp(LJ) 4587 (ITAT-AHMEDABAD)
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ITAT - Amount transferred to reserve mandatorily to meet future development expenses on specific direction of Government is revenue expenditure
ACIT vs Omnibus Industrial Development Corporation
(2014) TaxCorp(LJ) 4559 (ITAT-AHMEDABAD) · Section. 37
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ITAT - For Capital Gains transfer of property takes place when consideration was paid and possession was handed over and not registration
Amitkumar Ambalal Shah vs ITO
(2014) TaxCorp(LJ) 4516 (ITAT-AHMEDABAD)
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S. 2(47): Transfer takes place in year of execution of sale deed, handing over of possession & receipt of sale consideration & is not deferred to year of registration. Verdict in Suraj Lamp and Industries 340 ITR 1 (SC) explained
Amitkumar Ambalal Shah vs. ITO (ITAT Ahmedabad)
(2014) TaxCorp(LJ) 4289 (ITAT-AHMEDABAD) · Section. 2(47)
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Penalty u/s 271(1)(c) cannot be levied for mere non acceptance of explanation furnished by the assessee
Shri Kirtibhai K. Shroff Vs. ITO
(2014) TaxCorp(LJ) 4236 (ITAT-AHMEDABAD) · Section. 271(1)(c)
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