ACIT Vs Gujarat Ambuja Exports Ltd. (ITAT Ahmedabad) The ld.counsel for the assessee at the very outset submitted that as far as amounts mentioned under the head interest on NSC and interest on staff loan is concerned they are not in dispute. The deduction claimed under section 80IC with regard to both these items have […]
Vatsal Navnitlal Parikh Vs ITO (ITAT Ahmedabad) We find that additional evidences are produced for the first time before the Tribunal. These documents were not filed before the lower authorities during assessment proceedings due to family disputes. Therefore, in the interest of justice, we deem it fit to remand the matter back to the file […]
DCIT Vs Aarti Catalyst Solutions P. Ltd. (ITAT Ahmedabad) In the present case on hand, the assessee has discharged his onus by providing details relating to the loan amount availed from the three creditors by producing their bank accounts, Income-Tax Returns, confirmation letters, etc. The AO has doubted source of the creditors thereby the AO […]
Assessee having disclosed all particulars of his income from sale of agricultural land, having furnished a bonafide explanation for not returning the same to tax and having surrendered the said income suomoto before detection by the Revenue, assessee cannot be said to have furnished inaccurate particulars of income so as to levy penalty u/s 271(1)(c.
DCIT Vs J. P. Iscon Ltd. (ITAT Ahmedabad) The brief facts leading to the case is this that the assessee had given inter-corporate deposit to six subsidiaries companies namely Dhanlaxmi Infrastructure Pvt. Ltd., Amit Intertrade Pvt. Ltd., Dhwani Infrastructure Pvt. Ltd., Rich Infrastructure Pvt. Ltd., Gujarat Mall Management Co. Pvt. Ltd. & Palitana Sugars Mills […]
Mehta Air Travels Pvt. Ltd. Vs ITO (ITAT Ahmedabad) t is matter of record that One Mr. Dhirajlal Terraiya vide letter dated 25.08.2015 in his reply to Show Cause Notice dated 18.08.2015, intimated the ITO Ward 2(1)(4) that the company was struck off from the records of Registrar of Companies (ROC), Gujrat, vide order dated […]
Gujarat Nippon Enterprises Pvt. Ltd. Vs ITO (ITAT Ahmedabad) The question that requires to be adjudicated whether the investment was made by the assessee to have controlling interest in the companies. Regarding loans granted by the assessee, the assessee company has given advances to five tooth brush companies as a business strategy to have controlling […]
ITO Vs Super Hospitality Services Pvt. Ltd. (ITAT Ahmedabad) Ld. CIT(A) noted that the notice issued in the name of the assessee company by the Central Excise and Customs and Service Tax Department dt.20/11/2009 , which was the basis of reopening the case and making the impugned additions was also issued to Mr. Keshav Alwa, […]
Vishwa Kalyan Society Vs DCIT (ITAT Ahmedabad) Brief facts of the case are, that the assessee is a Charitable Trust, having income under the heads Income from House Property and Income from Other Sources. The assessee has filed its return of income online on 29-09-2012 showing taxable income as NIL with a refund claim of […]
Vijay D. Patel Vs CIT (ITAT Ahmedabad) It is clear that post amendment to section 271(1)(c) w.e.f. 1-4-2002 authorizing the commissioner also initiate penalty u/s 271(1)(c), the CIT still cannot direct the Assessing Officer to initiate penalty proceedings while exercising his revisionary power u/s. 263 of the act. The decision of the Jurisdictional High Court […]
