In a landmark decision, ITAT Ahmedabad rules in favor of Globe Textiles (India) P. Ltd., stating no TDS deduction necessary on commission income earned by foreign agents outside India.
ITAT Ahmedabad ruled against C K Zipper Pvt Ltd, disallowing deduction under Section 35(1)(ii) of Income Tax Act for donations to ineligible research trust.
Analysis of Rotex Enterprises P. Ltd. Vs DCIT case: CIT(A) exceeded jurisdiction under section 251, ITAT Ahmedabad rules, disallowances unsustainable.
Read the full text of the ITAT Ahmedabad order where the revision order against Rameshlal Bullchand Ambwani is quashed due to lack of valid reasons for JDA amendment.
The computation of income by AO giving effect to CIT’s direction was an assessment order which was appealable. The order passed by CIT(A), therefore, holding the assessment order to be not appealable was incorrect in law.
Ahmedabad ITAT quashes Sec 263 order in Soham Buildcon vs PCIT-3 case, citing absence of twin conditions for exercising power under the provision. Full text analysis provided.
Explore how DCIT vs. Claris Lifesciences Limited case sets precedent for setting off deemed short-term capital gain on sale of depreciable against long-term capital loss.
ITAT Ahmedabad overturns AO’s decision, ruling that penny stock sale cannot be treated as unaccounted income if the purchase is genuine. Details of the case and verdict provided.
ITAT Ahmedabad held that amount received as confirming party on sale of right is considered as receipts on sale of capital asset and accordingly, income is held as income from long term capital gain.
Babubhai Ramanbhai Patel vs DCIT – Ahmedabad ITAT rules CIT(A) must discuss case merits before dismissing appeal for non-prosecution. Full analysis here.
