ITAT Ahmedabad deleted an income addition and penalty on a taxpayer, accepting her explanation that cash deposits came from her husband and brother.
ITAT Ahmedabad held that bad debts written off as irrecoverable in books is enough and it is not necessary to demonstrate that a debt has become bad. Accordingly, addition on account of bad debts liable to be deleted.
The ITAT Ahmedabad accepted a developer’s project completion accounting method, deleting a Rs. 2.24 crore addition made by the AO for alleged profit suppression.
The ITAT Ahmedabad dismissed the tax department’s appeal, ruling that cash withdrawals of ₹8.89 crore were not unexplained. The tribunal upheld the assessee’s claim that the cash was used for business payments, as the tax officer had accepted the corresponding sales.
A summary of the ITAT Ahmedabad ruling on Roshniben Sumanlal Kapadia’s case, where the tribunal upheld an addition for bogus share trades.
The ITAT Ahmedabad set aside an ex-parte order against Shahnawaz Mustakkhan Pathan, ruling that the CIT(A) violated natural justice by sending hearing notices via email despite the assessee’s explicit request not to use that method. The case is now sent back for a fresh hearing.
ITAT Ahmedabad deletes a tax addition on Pushpakant Punjalal Chokshi, ruling that cash deposits in an HUF account can’t be taxed in an individual’s hands.
The ITAT Ahmedabad deleted a ₹10.61 lakh penalty against Snehalkumar Bhogilal Trivedi, ruling that a notice citing both under-reporting and misreporting of income was void due to ambiguity.
A summary of the ITAT Ahmedabad ruling in Vimal Sureshbhai Mishra vs CPU, addressing the incorrect computation of interest under Section 234B.
ITAT Ahmedabad held that CIT(A)-NFAC has dismissed the appeal without rendering any findings on the merits of the case, which is against the principles of natural justice. Accordingly, order of CIT(A)-NFAC is set aside, and matter is restored to the file of CIT(A)-TP for fresh adjudication on merits.
