Tribunal allowed a claim of Rs. 49.5 crore in the interest of Principle of Natural Justice after finding that the respective authorities failed to appreciate the amended provision of Section 36(1)(iia) of the Income Tax Act, 1961, resulting in the denial of an additional depreciation claim.
ITAT Ahmedabad remands case of Ramakushna Kiritbhai Tripathi Vs ITO due to accountant’s departure and lack of proper representation, emphasizing procedural fairness.
ITAT Ahmedabad ruling regarding Section 54 deduction to a Hindu Undivided Family (HUF) for property purchase in an individual’s name. The decision emphasizes the principle against allowing a change of opinion in reassessment proceedings, based on established legal precedents.
In the case of Vijay Rajnikant Patel Vs PCIT, ITAT Ahmedabad rules that Section 263 revisionary powers are limited to issues addressed in limited scrutiny, ensuring adherence to CBDT instructions.
Understand Section 80-IA(4) deductions: N.C.C. – M.S.K.E.L (J.V.) Vs Income Tax Officer (ITAT Ahmedabad) clarifies eligibility for developers.
Detailed analysis of Mahendra N. Patel Vs DCIT case where ITAT Ahmedabad nullifies penalty due to absence of misreporting or underreporting by the assessee.
Read about the ITAT Ahmedabad’s decision in the case of Vivekkumar S Bhavsar vs ITO, where the matter was remanded back to the AO due to lack of cooperation from the assessee. A cost of Rs. 5000 was imposed on the assessee, payable to the Prime Minister National Relief Fund.
Ahmedabad ITAT rules in favor of Mehsana Urban Co-op. Bank Ltd., stating AO’s incorrect calculation isn’t failure to disclose, thus invalidating assessment reopening beyond 4 years.
Read a detailed analysis of the case of DCIT vs. Flax Apparels Pvt. Ltd. where ITAT Ahmedabad ruled that Section 43B of the Income Tax Act, 1961 doesn’t apply when payment precedes the claim of expenditure.
Ahmedabad ITAT ruled that vehicles used for business purposes, even if owned by directors, are eligible for depreciation. Case analysis of Mukesh Trends Lifestyle Limited Vs DCIT.
