The ITAT Ahmedabad reduced the estimated net profit rate for a milk retailer from 7% to 4.5%, finding the higher rate unrealistic for the business, and condoned a 101-day appeal delay.
The ITAT Ahmedabad has rebuked the CIT(A) for dismissing Anmol Medicare Limited’s appeal ex-parte without a reasoned order, remanding the case for a new hearing on its merits.
Tribunal held that the assessee’s revised application correcting an incorrect section code, filed within the CBDT extended deadline, is valid. CIT(E)’s rejection as non-maintainable was set aside.
The ITAT Ahmedabad ruled that the amendment to Section 80AC, requiring timely tax return filing for Chapter VIA deductions, is not applicable to Assessment Year 2017-18.
Learn how the ITAT, in the Jitudan Ravatdan Gadhvi vs. ITO case, condoned a delay in appeal and overturned a best-judgment assessment, finding that the taxpayer’s cash deposits were a legitimate part of his business operations.
In a key decision, ITAT Ahmedabad set aside a ₹6.51 crore tax demand against a government-funded educational society, holding that procedural lapses do not defeat a substantive right to exemption when all eligibility conditions are met.
In the case of Chandrakant Atmaram Acharya, the ITAT deleted a Rs.10.80 lakh addition for unexplained investments but imposed a Rs.5,000 cost on the taxpayer for non-cooperation with the tax department.
The ITAT Ahmedabad ruled that the amendment to Section 11(3)(c) by the Finance Act 2022, which reduced the accumulation period for trusts, is prospective. The court granted relief to Sarangpur Talia’s Pole Punch Trust, confirming its right to a six-year window for pre-amendment accumulations.
The ITAT Ahmedabad bench has set aside an order by the CIT(E) that denied 80G approval to a charitable trust, ruling that the matter requires fresh examination.
The Income Tax Appellate Tribunal (ITAT) Ahmedabad set aside an order by the CIT (Exemption) that rejected a trust’s 80G approval application.
