ITAT Ahmedabad held that assessee is entitled to claim weighted deduction on all expenditure incurred by it, on in-house research & development facility. Accordingly, restricting claim of weighted deduction u/s 35(2AB) to the extent approved by the prescribed authority i.e. DSIR unjustified.
ITAT Ahmedabad held that a typographical error cannot be a reason to believe that the income of the assessee has escape assessment and hence initiation of proceedings under section 147 of the Income Tax Act is unsustainable.
ITAT Ahmedabad held that the provision of section 50C of Act cannot be made applicable to transaction of capital assets transferred by assessee to a partnership firm by way capital contribution. Such transaction falls under the provision of section 45(3) of the Income Tax Act.
ITAT Ahmedabad held that as assessee was not legally obliged to pay customs duty amount, additional claim towards payment of such customs duty cannot be allowed under provisions of section 43B(a) of the Income Tax Act.
ITAT Ahmedabad’s order in Lincoln Pharmaceuticals Ltd. vs. DCIT, confirming addition due to insufficient evidence for promotion expenses.
Uttam Dairy Staff Co-operative Credit & Supply Society vs. AO – ITAT Ahmedabad upheld deduction under Section 80P despite delayed filing due to Govt. Auditor. Analysis here.
Analysis of ITAT Ahmedabad’s decision in ITO vs Jakshibhai Dahyabhai Bharvad. Understand how CIT(A) order was upheld, affecting income tax additions.
ITAT Ahmedabad held that payment of guarantee fee to the Govt. of Gujarat in consideration of guarantee issued by it for repayment of unsecured loan is revenue expenditure.
ITAT Ahmedabad held that reopening of assessment under section 147 of the Income Tax Act initiated on a mere change of opinion without any fresh tangible material unsustainable in law.
ITAT Ahmedabad held that the expenses incurred to remove impediments or encumbrances in way of transfer of capital asset has to be allowed as deduction under the head ‘cost of improvement’ while computing taxable amount of capital gain.
