Courts: ITAT Ahmedabad
Find latest ITAT Ahmedabad judgments, orders and case laws on income tax covering assessments, additions, deductions, exemptions, TDS, reassessment and penalties.
Derivative transaction entered prior to notification defining Recognised Exchanges is also eligible to be treated as non speculative transaction
Unless there is positive act on part of creditor in current year providing benefit to assessee by way of remission, outstanding credit liability cannot be held to have been remitted in favour of assessee
When a payment is compensatory in nature and not related to any deposit/debt/loan, then such a payment is out of ambits of provisions of section 194A
Transfer Pricing – As other income of the assessee is excluded from the net profit, the other income of comparable companies should also be excluded from their net profit and the full data of the comparables should also be provided to the assessee
Carry forward of unabsorbed depreciation as per section 32(2) is automatic
Amount of brought business loss and unabsorbed depreciation is not required to be first set-off before computing the deduction allowable under s 80HHC for the purpose of computing book profits, matter remitted to make calculation under s 80HHC
Provisions of section 79 not applicable to deemed public company
No disallowance under s 40(a)(ia) can be made for non-deduction of tax under s 194C in absence of a continuous contract, oral or written
Claim of interest simpliciter not appeallable order before the CIT(A) under section 246A
Adjustment can not be made in the book profit u/s 115JB for the items which are not mentioned specifically in the explanation to section 115JB
Interest income earned by joint venture FDRs prior to 1 April 2008 exempt under Section 10(23FB) of the Income Tax Act, 1961
Vehicle hire charges falls within the scope of Section 194C not under section 194I
TDS on Payment to doctors under fixed salary and guarantee money scheme
Cash credit — Benefit of peak credit cannot be given to the assessee in the absence of any cash withdrawals and redeposit of the same
ITAT Ahmedabad judgments and orders provide an extensive source of appellate case law under the Income-tax Act. This page compiles ITAT Ahmedabad decisions dealing with assessments, additions, deductions, exemptions, business income, capital gains, unexplained income, reassessment, TDS, transfer pricing, penalties and procedural issues. Taxpayers, businesses, Chartered Accountants, advocates and tax professionals can use this dedicated page to research Tribunal precedents relevant to income-tax controversies. TaxGuru brings together recent and important earlier ITAT Ahmedabad case laws, making it easier to follow developments in direct tax jurisprudence and identify decisions relevant to assessments and appeals.
