Explore the ITAT Ahmedabad ruling in the case of DCIT vs. Amazon Textiles Pvt. Ltd., addressing disallowance under Section 14A, Rule 8D of the Income Tax Act.
Dilipkumar Jashbai Patel Vs ACIT (ITAT Ahmedabad)- Section 144C(3) r.w.s. 144C(4) Mandate AO to Conclude Assessment within One Month if Assessee Accepts Draft Order or Fails to File Objection
ITAT Bangalore held that u/s. 292C of the Income Tax Act, there is a presumption that the documents found in the possession or control of any person in the course of search, belongs to such person and contents of such document are true.
ITAT Bangalore held that assessee is eligible to avail deduction of an amount representing actual write off in the books of account of bad debts relating to nonrural/urban advances in terms with section 36(1)(vii), as proviso to the said section would not apply to non-rural advances.
ITAT Kolkata rules on upfront lease premium, corporate guarantee fee, and royalty income. Key points from ACIT Vs Britannia Industries. Full order analysis.
ITAT Delhi held that foreign commission paid by the assessee to its foreign agent for arranging of export sales and recovery of payment could not regarded as fees for technical services under section 9(1)(vii) of the Act. Accordingly, disallowance of expenditure u/s. 40(a)(i) unjustified.
ITAT Mumbai held that addition towards suppression of profit by not reflecting properly the opening and closing stock unsustainable as assessee is only a commission agent and assessee has recorded the transactions to square up the sales and purchases in its Books of Accounts and declared only the commission income as its main source of income.
ITAT Delhi held that benefit of deduction u/s. 80-IA of the Income Tax Act entitled as ground handling and cargo handling services are included within the scope of infrastructure facility.
ITAT Mumbai held that expenditure incurred on foreign currency on telecommunication charges and provision of technical services outside of India should not be excluded from export turnover for the purpose of computing u/s 10A of the Income Tax Act.
ITAT Kolkata held that revision of assessment order passed u/s. 143(3) unsustainable as levy of interest u/s. 115P of the Income Tax Act for short payment of Dividend Distribution Tax (DDT) u/s. 115-O of the Income Tax Act, which comes under a separate Chapter, was not part of assessment order.
