ITAT Ahmedabad upheld decision of CIT(A), ruling in favor of Nirma Limited. The nature of payments for vessel damage was deemed as reimbursement and capital in nature, not falling under Section 5(2) of the Act. The appeal by Revenue was dismissed, affirming the cancellation of TDS deduction on the payment of USD 4,50,000.
Case of Ilaben Bharatbhai Amin vs ITO, recently decided by ITAT Ahmedabad, delves into intricacies of calculating capital gains tax arising from sale of agricultural land that undergoes conversion into non-agricultural land before sale.
Explore ITAT Ahmedabad’s order in DCIT vs. Vimal Kanubhai Patel case. Onus on Income Tax Dept to provide evidence for taxing foreign bank credits of NRI. Full text available.
ITAT Ahmedabad held that an appellate authority can exercise the power u/s. 251(1)(a) to enhance the assessment only after giving a notice for enhancement. Accordingly, enhancement by CIT(A) without issuance of notice is untenable in law.
In a case of Suprinit Tradinvest Pvt. Ltd. Vs ITO, ITAT Ahmedabad directs AO not to disallow business loss in share transactions without thorough document verification.
ITAT Ahmedabad rules in favor of Dcom Systems Limited against DCIT, affirming CIT(A)’s decision on interest disallowance and Section 14A deletion for AY 2014-15, emphasizing the importance of business expediency and absence of exempt income for disallowances.
Explore the detailed analysis of ITAT Ahmedabad’s order directing the reassessment of Form 10AB for 80G registration. Insights into the case of Best Buds Pet Care Vs CIT.
Explore the ITAT Ahmedabad ruling in Hasaniya Healthcare Sarvajanik Trust vs. CIT case. Learn how the CA’s interpretation error led to rejection and the subsequent order for reexamination.
Explore the ITAT Ahmedabad ruling on the disallowance of expenses under Section 43B for Himatnagar Nagrik Sahakari Bank Ltd. Learn about the dispute, the arguments presented, and the decision. Find insights into the assessment order, grounds of appeal, and the National Faceless Appeal Center’s confirmation.
ITAT Ahmedabad deleted the addition towards unexplained cash credit as AO failed to conduct independent inquiry and addition was made merely for the reason that there was minor difference in amount of cash deposited vis-à-vis amount of demand draft and amount of invoice.
