Corrtech International Pvt. Ltd. Vs DCIT (ITAT Ahmedabad) The Assessing Officer disallowed the claim of Service Tax on the ground that the said demand was related to earlier years and the said Service Tax liability of the assessee or the recipient was on that point of time disputed by the parties. The Assessing Officer has […]
Penalty under Section 271E is not permissible in the absence of regular assessment framed against the assessee by the Revenue.
Imran Mohammed Iqbal Vs ITO (ITAT Ahmedabad) Considering the above facts, vis-à-vis the outstanding balance relating to M/s. Prakash Gold amounting to Rs. 12,05,026/-, the addition having been made finding it to be bogus, since the consistent finding of fact is that the transaction was entered into by the assessee with the said party not […]
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 […]
