Analysis of ITAT Ahmedabad’s decision in Unity Dye Chem Pvt. Ltd. vs CIT case. Penalty under section 271C not applicable if TDS non-deduction supported by Form 15G/H.
ITAT Ahmedabad’s decision in Gunvantbhai Chhitubhai Nayak vs ITO emphasizes re-adjudication of a case with due consideration of evidence, after finding the CIT(A)’s order lacking in merits.
ITAT Ahmedabad rules deduction under Section 54 of the Income Tax Act not allowable in current year. Orders reexamination for Previous A.Y. Details here.
Read the full text of ITAT Ahmedabad’s order deleting the penalty u/s 271(1)(c) for Dineshkumar Kanjibhai Patel-HUF as no concealment of particulars or inaccurate income filing found.
Explore the case Fab Engineering Pvt. Ltd. vs ITO, where ITAT Ahmedabad upheld disallowance on long-term capital loss claim from sale of company shares.
ITAT Ahmedabad held that the amount of refund issued to the assessee will be first adjusted against the interest then, after that against the principal amount.
Analysis of the recent ITAT ruling on Pawan Satyanarain Jalan Vs Assessing Officer Central where the penalty under Section 271AAB of the Income Tax Act was deleted.
ITAT allowed internet expenses and labour charges as business expenses and further held that Section 115BBE not applicable to expenses adequately explained during assessment
In a significant ruling, ITAT Ahmedabad relieves an assessee from penalties due to accountant’s mistake. Full review of Dharmendrakumar B Mehta Vs ITO case here.
ITAT Ahmedabad held that transfer pricing adjustment should be restricted only in respect of turnover of assessee-company relating to international transactions. In nut-shell, transfer pricing addition should be restricted only qua international transaction and not entity level transactions.
