Hashesh V. Patel (HUF) Vs ITO (ITAT Ahmedabad) ITAT consider it fair and proper and in the interest of justice to give one more opportunity of being heard to the assessee. However, keeping in view the casual and negligent attitude of the assessee especially during the course of assessment proceedings, ITAT impose a cost of […]
City Manager Association Ahmedabad Municipal Corporation Vs DCIT (ITAT Ahmedabad) Let us consider the scope of section 154 for making prima facie adjustment while processing return under section 143(1)(a) of the Act i.e. process of dealing with the return is an ex parte process. It is pertinent to observe that whenever any debatable issue is […]
Chandresh Luniya Vs ITO (ITAT Ahmedabad) The facts in brief are that the assessee in the present case is an individual and engaged in the activity of derivative business of shares and securities. In the present case it was found by the AO that the assessee has obtained the benefit of accommodation entries by way […]
Pur Opale Creations Ltd. Vs DCIT (ITAT Ahmedabad) It is an undisputed fact that the assessee has disclosed particulars of loss in sale of assets before the authorities below. Instead of treating a loss as capital loss the assessee has treated the same as business loss and therefore, it cannot be said to have not […]
Sanjeev Gajendra Pancholi Vs ITO (ITAT Ahmedabad) Perusal of the above gift deed shows that the donor viz. Shri Narendra Maganbhai Pancholi has sold piece of agriculture land from 28.3.2008 to 30.3.2008 and one agriculture land on 26.7.1999 aggregating to Rs.11,64,698/-. The donor claimed that this amount has been invested in private bank, shroff and […]
Element of consciousness in furnishing inaccurate particulars of income coupled with circumstantial evidences should be present in the particular case.
Kintukumar Ambalal Patel Vs DCIT (ITAT Ahmedabad) The issue raised by the assessee in additional ground is that the learned CIT-A erred in confirming the order of the AO by expanding the scope of limited scrutiny assessment to complete scrutiny without necessary approval. Ld. AR further claimed that the Assessing Officer has converted the “Limited […]
ITAT held that CIT(A) has considered the case laws and details submitted by the assessee. To our mind, same is amounting to miscarriage of justice
CIT (A) has erred in facts and law in holding that loss from sale of shares was short-term capital losses and hence not eligible for set of against income from profession of assessee.
Bhikhabhai Ambalal Patel Vs ITO (ITAT Ahmedabad) Ld. AR submitted that mere existence of addition during the assessment proceedings does not attract provisions of Section 271(1)(c) of the Act. In the present case, the CIT(A) has not pointed out as to on what basis the penalty was imposed. In fact, notice under Section 274 read […]
