Explore Vrajeshkumar Chokshi vs. ITO case: Invalid assessment reopening, challenged LTCG addition. Detailed analysis of unfounded premises, Short Term Capital Loss, and quashing the assessment.
The assessee has reqeusted to withdraw the appeal on the ground that with the introduction of Vivad Se Vishwas Scheme, the appellant has decided to avail the Scheme with respect to the said appeal and therefore the appeal of the Assessee is required to be withdrawn in terms of scheme.
Explore the ITAT Ahmedabad ruling in Chirai Salt (India) Pvt. Ltd case. In-depth analysis of the stock undervaluation dispute, challenges to methods, and successful deletion of additions.
The issue in the present case relates whether the assessment order has been passed by Ld. AO without making inquiries or verification with respect to the deduction/exemption claimed under section 54 of the Act as discussed above and hence the assessment is erroneous insofar prejudicial to the interest of the Revenue and thus requiring revision by Pr. CIT u/s 263 of the Act.
Read about the ITAT Ahmedabad’s ruling in ITO vs. Yagnesh Dayabhai Vyas, where disallowance under Section 40(a)(ia) was deemed unjust when TDS was duly deducted and paid before the return filing deadline.
Explore the ITAT Ahmedabad decision in Ramanlal Jawanmal Shah HUF vs. ACIT-CPC. Learn why accrued interest income, taxed earlier, can not be taxed again to prevent double taxation.
ACIT Vs Rameshbhai Jivrajbhai Desai (ITAT Ahmedabad) During the course of assessment proceedings, the Assessing Officer initiated penalty proceedings under Section 271(1)(c) of the Act. The Ld. AR submitted that the assessment order passed under Section 153A of the Act was held to be void ab initio and thus there is no addition in the […]
It has been held that notice issued by AO should specify which limb of Section 271(1)(c) of the Act penalty proceedings has been initiated.
Held that the correct method is applying peak calculation method to compute the profit from the unaccounted cash sales made by the assessee.
On maturity of life insurance policy, where section 10(10D) does not apply, it is only the net income which is chargeable to tax in the hands of the assessee.
