Rejection of grant under Section 80G merely on procedural lapse by making application under Section 80G(5)(ii) inadvertently instead of Section 80G(5)(iii) by assessee is not acceptable: ITAT Ahmedabad
Detailed analysis of ITAT Ahmedabad’s order regarding CIT(A)’s authority to delete disallowance without considering AO’s findings under Income Tax Act, 1961.
Ahmedabad ITAT’s order in Atul Limited vs DCIT case discusses TP adjustments, volume discount, geography adjustments, and more. Detailed analysis provided.
In a detailed analysis of Axis Bank Limited Vs ACIT case, Ahmedabad ITAT explains the difference between a Letter of Credit and Corporate Guarantee, resolving disallowance disputes.
ITAT Ahmedabad allows Interest expenses even if interest rate charged by the assessee on loans given was lower than the rate paid on loans taken, thus disallowing the excess interest paid. Tribunal held that the only requirement for claiming expenses under Section 57(iii) is that they must be incurred wholly and exclusively for the purpose of earning income from other sources.
Explore the intricacies of Section 40A(2)(b) with insights from the M S Hostel Vs DCIT case. Learn why salary disallowance requires thorough examination of fair market value and legitimate business needs.
Read about the case of Aark Infosoft Pvt. Ltd. vs. ACIT (ITAT Ahmedabad) where the assessment was deemed void due to a delayed Section 143(2) notice.
Analyzing the case of Sunil Dhirubhai Patel vs ITO, where expenses were disallowed despite not being claimed by the assessee, and how the ITAT Ahmedabad ruled in favor of the assessee.
ITAT Ahmedabad quashes penalties under Section 271(1)(b) & 271F of the Income Tax Act, emphasizing that income determination in assessment orders cannot dictate filing of ITRs.
Understand the implications of unexplained expenditure as Hyfun Foods challenges an addition of Rs. 95,47,000/- under section 69 of the Income Tax Act. Detailed analysis and verdict included.
