ITAT Ahmedabad held that addition of short term capital gain on account of transfer of shares on presumption basis without bringing on record evidencing actual receipt of consideration cannot be sustained. Accordingly, addition deleted.
ITAT Ahmedabad held that provisions of section 68 of the Income Tax Act doesn’t apply in the matter of non-utilisation of amounts received towards Corporate Social Responsibility (CSR) activities. Thus, appeal allowed.
Solitary issue in the present appeal relates to the addition made to the income of the assessee on account of cash found deposited in the bank account during demonetization period remaining unexplained, amounting to Rs.10.00 lakhs.
ITAT Ahmedabad rules procedural delays in filing Form 67 cannot deny Foreign Tax Credit under Section 90 of the Income Tax Act. Relief granted to the taxpayer.
ITAT Ahmedabad remands Krupal Patel’s case to AO for fresh assessment after issues with portal access and lack of representation.
ITAT Ahmedabad directs AO to grant Section 115BAA benefits and rectify ITR errors for Zodiac Energy Limited for AY 2021-22.
ITAT Ahmedabad remands the case of Safikahmed Ansari on depreciation claim for AY 2018-19, instructing the assessing officer to review the claim.
ITAT Ahmedabad remands Mayur Kanubhai Patel’s appeal for AY 2018-19 to the Assessing Officer for fresh consideration after procedural lapses in compliance.
ITAT Ahmedabad rules on Bhaveshkumar Patel’s appeal against disallowance of interest claim under Income Tax Act. Decision aligns with earlier and subsequent years.
ITAT Ahmedabad rescinds ex-parte Rs.36L addition u/s 69A, directing reassessment with a chance for the assessee to explain financial records.
