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ITAT - Foreign Income Remittance in NRE Account Safe from Section 68, Affirms Ahmedabad ITAT.
Aswat Juned Motiwala Vs D.C.I.T
(2023) TaxCorp(LJ) 32353 (ITAT-AHMEDABAD) · Section 68
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Assessee failed to discharge the onus since the phenomenal and fanciful rise in share was not supported by the financial statements of the company and the onus could not be said to be discharged by filing mere documentary evidences of sale and purchase of shares.
Hemil Subhashbhai Shah Vs DCIT
(2023) TaxCorp(LJ) 31769 (ITAT-AHMEDABAD) · Section 68
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Violation of Section 13(1)(d) cannot lead to denial of complete exemption under Sections 11 and 12.
Gujarat Industrial Development Corporation Vs The ACIT
(2023) TaxCorp(LJ) 31768 (ITAT-AHMEDABAD)
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Though the advances qualified as deemed dividend in terms of Section 2(22)(e), they cannot be taxed in the hands of the Assessee, not being shareholder of the concerns lending the sum.
Aaryavart Infrastructure P. Ltd Vs DCIT
(2023) TaxCorp(LJ) 31687 (ITAT-AHMEDABAD)
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Revenue failed to place on record any contrary view and thus, there is no infirmity in CIT(A) order deleting the disallowance.
Grand Polycoats Company Pvt. Ltd Vs The ACIT
(2023) TaxCorp(LJ) 31628 (ITAT-AHMEDABAD)
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The cash deposited in bank account cannot be treated as unexplained as the Revenue himself in the remand report and on verification accepted that the entire cash deposited was accounted for as sales in the books of the Assessee.
Rajeshkumar Chhanalal Patel Vs ITO
(2023) TaxCorp(LJ) 31494 (ITAT-AHMEDABAD) · Section 69A
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The payment to the UAE based service provider are in the nature of technical services and not royalty.
Kalpataru Power Transmission Ltd Vs The Dy. CIT
(2023) TaxCorp(LJ) 31260 (ITAT-AHMEDABAD)
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The activities carried out by Gujarat Council of Science City are not in the nature of imparting education by general public utility.
Gujarat Council of Science City Vs DCIT
(2023) TaxCorp(LJ) 31227 (ITAT-AHMEDABAD)
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Section 199 enables the Assessee to claim TDS credit in the year in which it is deducted irrespective of the fact that the related income is not offered to tax in the same year.
Adani Vizhinjam Port Pvt. Ltd Vs The ITO
(2023) TaxCorp(LJ) 31091 (ITAT-AHMEDABAD)
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Payment made to agent of uneducated sellers for purchase of old vehicles in cash would be covered by Rule 6DD(k) which carves out an exception from disallowance under Section 40A(3).
Piprani Equipment P.Ltd Vs ITO
(2022) TaxCorp(LJ) 30699 (ITAT-AHMEDABAD) · Section 40A(3)
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Mere modus of operandi cannot the basis of making the addition or treating the capital gain as bogus until and unless it is supported by the material documents.
Mamta Rajivkumar Agarwal Vs Income Tax Officer
(2022) TaxCorp(LJ) 30457 (ITAT-AHMEDABAD)
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No support can be drawn from observations made in the assessment order for the previous AY to conclude that in impugned AY, the loan was given on account of working capital requirement of the AE.
Rosebys Interiors India Ltd Vs The DCIT
(2022) TaxCorp(LJ) 30419 (ITAT-AHMEDABAD)
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There is no requirement that the goods to be eligible for scrap should be produced by the seller itself.
Umeshkuamr Harilal Shah Vs ITO(TDS)-3
(2022) TaxCorp(LJ) 30349 (ITAT-AHMEDABAD)
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Issue of treating reimbursement of expenses as FTS is a debatable issue on which no penalty can be imposed.
Shell Global Solutions International B.V. vs DCIT
(2022) TaxCorp(LJ) 30281 (ITAT-AHMEDABAD)
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Membership fee and subscription amounts received by trust/society from its members cannot be characterized as voluntary contribution within meaning of expression fund in Section 12.
Dudhsagar Research & Development Association Vs ACIT(Exemption)
(2022) TaxCorp(LJ) 30237 (ITAT-AHMEDABAD)
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Payment made by Cadila Healthcare to a Mexico-based entity for clinical trials is in the nature of FTS, liable for tax deduction at source since the payments are not covered under the exception to Section 9(1)(vii)(b) and there is no ‘make available’ clause in India-Mexico DTAA.
Cadila Healthcare Ltd Vs DCIT
(2022) TaxCorp(LJ) 30117 (ITAT-AHMEDABAD)
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Order passed by Revenue under Section 154 against the assessment order passed under Section 143(3) is within the period of limitation of 4 years.
Cadila Healthcare Ltd Vs The DCIT
(2022) TaxCorp(LJ) 30084 (ITAT-AHMEDABAD)
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Revisionary jurisdiction cannot be exercised on a issue which is already decided in appellate proceedings by CIT(A).
Greenwell Orchards Vs The Principal Commissioner of Income Tax
(2022) TaxCorp(LJ) 30005 (ITAT-AHMEDABAD)
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Depreciation cannot be denied merely on the reasoning that cars were registered in the name of the Directors of the Company.
Shivam Water Treaters Pvt. Ltd. Vs A.C.I.T.,(OSD)
(2022) TaxCorp(LJ) 29964 (ITAT-AHMEDABAD)
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No TDS liability under Section 195 arose on payments made to University of Texas, USA for carrying out research activity.
Oil and Natural Gas Corporation Limited Vs Income Tax Officer-2
(2022) TaxCorp(LJ) 29829 (ITAT-AHMEDABAD)
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