ITAT Ahmedabad

Penalty cannot be imposed on disallowance of creditors for want of address verification

Kishor A. Sewani Vs ITO (ITAT Ahmedabad)

Where sundry creditors arising out of the purchases debited in the profit and loss account as revenue expenses, were added to income of assessee for want of the addresses of said creditors, that did not mean assessee had concealed the particulars of income or furnished inaccurate particulars of income, so as to impose penalty under sectio...

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TDS u/s 195 on commission paid to overseas agents?

DCIT (OSD) Vs Jay Chemical Industries Ltd. (ITAT Ahmedabad)

Commission paid to non-resident agent was not liable to tax under the provisions of act when the services were rendered outside India, payments were made outside India and there was no permanent establishment or business connection in India, therefore, assessee was not required to deduct TDS u/s 195(2)....

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Addition for Cash deposit in Bank explained without supporting documents justified

Amit Subhaschandra Acharya Vs ITO (ITAT Ahmedabad)

Amit Subhaschandra Acharya Vs ITO (ITAT Ahmedabad) The issue in the instant case relates to the cash deposited by the assessee amounting to Rs. 4,40,000/- in his saving bank account. The assessee claimed that the cash was deposited out of his past savings, salary income and out of the income of his wife. But the […]...

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Penalty justified for Deliberate non-disclosure of income

Smt Joyti Sunil Maniyar Vs ITO (ITAT Ahmedabad)

Smt Joyti Sunil Maniyar Vs ITO (ITAT Ahmedabad) In the notice issued u/s 142(1) dated 11.10.2011 a specific query was raised by the AO about the capital gain income. After that, the assessee vide reply dated 22.11.2011 conceded the fact of non-disclosing the capital gain income. From the above, it is transpired that the assessee […...

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Claim of deduction accepted by AO despite unequivocal language of Act is erroneous U/s. 263

Paras Chinubhai Jani Vs Pr. CIT (ITAT Ahmedabad)

Claim of deduction accepted by the AO despite unequivocal language of the Act, in our view, is erroneous as contemplated under s. 263 of the Act. Such error on the part of the AO has caused definite prejudice to the interest of the Revenue. ...

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TCS not deductible if buyer declares use of goods for Manufacture

ACIT (OSD) Vs M/s. Bansal Ship Breakers P. Ltd. (ITAT Ahmedabad)

ACIT Vs M/s. Bansal Ship Breakers P. Ltd. (ITAT Ahmedabad) Any person responsible for collecting taxes (TCS) under section 206(1) need not to do so if he obtains a declaration from the buyer that he is purchasing the goods for re-use in manufacturing process or producing article or things. It does not say that such […]...

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Assessee entitled to challenge correctness of DVO’s valuation before CIT(A)

Lovy Ranka Vs DCIT (ITAT Ahmedabad)

Section 50C is a deeming provision and Assessing Officer is obliged to compute capital gains by taking valuation arrived at by DVO in place of the actual consideration received by assessee,  assessee is entitled to challenge correctness of DVO's valuation before CIT(A) and ITAT. DVO has to be given an opportunity of hearing...

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ITAT condones delay in appeal filing due to illness of chief accountant

Shri Pawan S. Jalan Vs ACIT (ITAT Ahmedabad)

Shri Pawan S. Jalan Vs ACIT (ITAT Ahmedabad) If we consider the explanation of the assessee filed before the ld.CIT(A), which has been partly reproduced in the order of the ld.CIT(A) on page no.3, then it would reveal that chief accountant of the company was ill and failed to hand over assessment order to the […]...

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Leave Travel Concession not available on Foreign Travels

Shri Rajeshkumar Navnitlal Dani Vs ITO (ITAT Ahmedabad)

Shri Rajeshkumar Navnitlal Dani Vs ITO (ITAT Ahmedabad) Provision of sec. 10(5) of the Act only that reimbursement of travel concession or assistance to an employee is exempted which was incurred for travel of the individual employee or his family members to any place in India and nowhere in this clause it had been stated […]...

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TDS not deductible on Roaming Charges paid by Telecom Company

Ms Bharti Airtel Ltd. Vs ACIT (ITAT Ahmedabad)

ITAT held that roaming charges paid by the appellant to other telecom companies are not covered under ‘fee for technical service’ and such payments are out of the purview of TDS provision of 194J of the Act. ...

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