ITAT Ahmedabad overturned PCIT’s revision order regarding ₹22 lakh cash deposit, finding AO’s verification adequate. Details of the case summary.
ITAT Ahmedabad rejects revenue’s objection on additional evidence, affirming CIT(A) acted within Section 250(4) powers, deleting ad-hoc disallowance.
Ahmedabad ITAT upholds deletion of ₹1 Cr addition for Radhika Diamonds, noting cash sales were duly recorded and business activity not doubted.
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.
