Gujarat Sickle Cell Anemia Control Society Vs DCIT (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the provisions of TDS under section 194J and 194C of the Income Tax Act, 1961 applicable to the payments made to medical labs and technicians as per an agreement for the screening of sickle […]
JCIT Vs Simalin Chemical Industries Pvt. Ltd. (ITAT Ahmedabad) he basis of making the addition on account of undisclosed income of the assessee was the cash found during the course of search proceedings by the excise department. There was the physical cash found by the excise department during the course of search amounting to ₹ […]
Hiren Himmatsingh Rathod Vs ITO (ITAT Ahmedabad) It is a fact that the assessee had incurred the cost for making the new property inhabitable before taking over possession of the same but considering the provision of the act we do not find any embargo in granting relief to the assessee under Section 54 of the […]
JCIT Vs ADF Foods Ltd. (ITAT Ahmedabad) In this case, the assessee himself has claimed that certain payments are covered in provisions of Section 5, 9, 195 of the Act and also under DTAA. Therefore, tax was not applicable. As per this letter, the assessee has explained that it is engaged in the business of […]
Lambda Therapeutic Research Ltd. Vs DCIT (ITAT Ahmedabad) We find that the assessee has not demonstrated any benefit derived from its associated enterprises namely Lambda USA whereas it has advanced interest free loan of EURO 49,999/-. Thus, the question arises whether there is a need to make any adjustment on account of notional interest under […]
Smt. Nalini Anilbhai Amin Vs DCIT (ITAT Ahmedabad) The proceedings, in the instant case, under section 147 of the Act were initiated by the AO on account of escapement of income of the capital gain generated on the sale of the property. This fact can be verified from the reasons recorded by the AO for […]
If property is used as stock-in-trade, then it would become and partake character of stock and any income derived from stock would be ‘income from business’ and not ‘income from house prperty.
Assessee had not explained expenses incurred for earning agricultural income, Assessing Officer was to be directed to make a disallowance to extent of 25 per cent of expenditure on account of earning of agricultural income and pass an order accordingly
Rajesh Sajjanraj Bafna Vs DCIT (ITAT Ahmedabad) Income Tax Proceedings based on documents found by DGCEI during search not sustainable if CESTAT treat such document as DUMB documents At this stage, it is also imperative to remind that the proceedings under the service tax and the income tax are distinct and independent to each other. […]
nce the assessee has initially deposited TDS and furnished Statement in Form 26QB within time, but committed a technical error while depositing TDS resulting in non-grant of TDS to transferor, compelling it to again deposit TDS along-with interest for late deposit, then, in the interests of justice and considering the fact that no loss is caused to the Revenue, the assessee cannot be saddled with levy of late filing fee u/s 234E
