Tejas Karshanbhai Dari Vs ITO (ITAT Ahmedabad) IYTAT held that Ld. CIT(A) has not approached the matter judiciously and has dismissed the appeal of the assessee, by rejecting the application for condonation of delay, without assigning any specific reasons why the delay in filing appeal should not be condoned. There is no allegation to the […]
There is no prohibition for the NRI for accepting the gifts from the relatives. In the absence of any prohibition, no adverse inference can be drawn against the assessee based on the prevailing system in the society.
Suzuki Suiting Pvt. Ltd. Vs I.T.O (ITAT Ahmedabad) Admittedly, the difference in the price of the share issued by the assessee and its fair market value and calculated and certified by the C.A. is barely 1% of its total value. The difference being Rs. 2.81 against the share value of Rs. 200/-, it is meager […]
A.O. had rightly endorsed the corroborated claim of the assessee in this regard, the PCIT, in our view, has attempted to substitute his wisdom by views of the A.O. without any definite basis. If the view of the PCIT towards the banakhat allegedly hollow or unenforceable is accepted, no income can be recognised at all.
Balex Private Ltd. Vs ACIT (ITAT Ahmedabad) Ld. AR further submitted during the set-aside assessment proceeding the address to where notices alleged to have been served remained vacant and therefore, the assessee could not reply to the notices issued by the AO. The assessee came to know about the issuance of notice when the Authorised […]
Jigar Jashwantlal Shah Vs ACIT (ITAT Ahmedabad) Now, we shall deal with the issue of whether section 56(2)(vii)(c) of the Act can be invoked in respect of additional 82,200 shares received by the assessee since the assessee’s wife and father did not exercise the rights issue and renounced the right in favour of the assessee. […]
Shivam Water Treaters Pvt. Ltd. Vs ACIT (ITAT Ahmedabad) The 1st issue that arises for our consideration whether the assessee is eligible to claim the depreciation on the purchase of cars in the manner as provided under section 32 of the Act. To claim the depreciation under section 32 of the Act, the following conditions […]
Atulbhai Ravjibhai Patel Vs DCIT (ITAT Ahmedabad) Regarding the issue raised with respect to the excess disallowance of Rs.14,16,000/- be deleted as it is attributed due to arithmetic error, the assessee by way of his submission submitted that there was a typographical error in reporting the details of the employees’ contribution to PF in the […]
ITO Vs Rahul Bharatbhushan Jain (ITAT Ahmedabad) Therefore, for applicability of s. 40A(3) of the Act, if a person makes different payments in cash to same person in excess of Rs 20,000 (w.e.f. A.Y. 2018-19 Rs 10000/-) in a single day even though on separate cash memos, such aggregate payment will be disallowed u/s 40A(3). […]
DCIT (OSD) Vs Jaihind Projects Ltd. (ITAT Ahmedabad) It is a settled law that vehicles let on hire are eligible for higher depreciation, but in the instant facts, in our view there are apparent factual contradictions which leads us to conclude that the assessee has not been able to irrefutably establish whether vehicles were let […]
