ITAT Ahmedabad quashes ₹4 crore addition against Amitsingh Bhadoriya as AO relied on a bank account not admitted by the taxpayer.
ITAT Ahmedabad overturns addition, accepts assessee’s joint agricultural income claim. Case details and ITAT order summary provided.
ITAT Ahmedabad allows co-operative societies deduction under 80P for interest earned from co-operative bank deposits.
ITAT Ahmedabad restores assessment, citing denial of fair opportunity and inadequate evidence review by AO in Sections 69A/69C case. (159 Characters)
ITAT Ahmedabad held that PCIT cannot exercise revisionary power u/s. 263 to restore an issue for the purpose of verification only since restoring matter for verification means that PCIT is not sure of assessment order being erroneous causing prejudice to the revenue.
ITAT Ahmedabad held that exemption under section 10(23C)(vi) of the Income Tax Act is admissible to the trust has exist solely for educational purpose, thus since the hostel fees charged by the trust is significantly high the activity amounts to ‘trade, commerce and business’ hence exemption denied.
ITAT Ahmedabad held that disallowance of delayed payment of employees’ contribution to EPF and ESI in terms of section 143(1) of the Income Tax Act can be made based on auditor’s observation. Accordingly, disallowance upheld.
ITAT Ahmedabad allows appeal despite 1607-day delay citing medical hardship. Penalty u/s 271(1)(c) questioned over income assessment.
ITAT Ahmedabad held that employees’ contribution to PF/ESI after statutory due dates but before due date of filing income tax returns not allowable as deduction. Accordingly, appeal of the assessee dismissed.
ITAT Ahmedabad cancels penalty on I-Serve Systems as disallowance was based on estimation without proof of concealment or inaccurate income details.
