ITAT Ahmedabad upholds ₹4.64 crore addition under Section 69A due to unexplained bank transactions and lack of cooperation from the assessee in tax proceedings.
ITAT Ahmedabad upholds CIT(A) decision in DCIT vs Asian Granito India Ltd., disallowing tax additions under Section 14A and suppression of sales allegations.
ITAT Ahmedabad held that where Commissioner (Appeals) passed ex-parte order in violation of principles of natural justice, one more opportunity should be granted to assessee. Accordingly, matter restored back to CIT(A) for de-novo consideration.
ITAT Ahmedabad condones a 340-day delay in an appeal on unexplained cash deposits under Section 69A and remands the case for fresh adjudication.
ITAT Ahmedabad sets aside CIT(A)’s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing for the taxpayer.
ITAT Ahmedabad remands Hari Krushna Machintech Pvt Ltd’s appeals to CIT(A) for reassessment. Issues include ex-parte dismissal and addition for bogus purchases.
ITAT Ahmedabad partly allows Balwa Group Cooperative’s appeal, setting aside interest income deduction disallowance for reassessment. The tribunal directed the Assessing Officer to re-evaluate proportionate expenditure claims related to interest income from nationalized banks.
ITAT Ahmedabad held that the development rights in the land were not the land itself and, therefore, the provision of section 50C of the Income Tax Act was not applicable on transfer of development rights in the land.
PCIT observed that no agricultural activity was carried out from the year 2014 till 2018 in both the lands i.e. the agricultural land which was transferred by the assessee and also the land which was purchased by the assessee.
ITAT Ahmedabad directs reassessment of a ₹44 lakh discrepancy in agricultural income, questioning the Income Tax Department’s examination of the assessee’s operations.
