ITAT Guwahati

Section 80IE deduction allowable on Substantial expansion/modernization of existing industrial unit despite deduction claim U/s. section 80-IB & 10C in earlier periods

Lakshmi Ram Thakuria Vs ITO (ITAT Guwahati)

Assessee was entitled to claim deduction under section 80-IE from Financial year 2008-09 and onwards due to modernization of its plant & machinery by infusing additional capital investment by more than 25 % of initial investment in plant & machinery as envisaged in clause (iii) of sub-section 7 of section 80-IE....

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ITAT explains legal effect of Omission of clause (i) of Section 92BA

M/s. Bhartia-SMSIL (JV) Vs ITO (ITAT Guwahati)

Since clause (i) section 92A was omitted with effect from 1st April, 2017 and the effect of such omission is that the said clause(i) was never existed in the statute. Hence, Ld. PCIT can not exercise the jurisdiction u/s 263 of the Act....

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Section 271(1)(c) Notice should clearly specify charge of Penalty

ITO Vs Shri Bimal Talukdar (ITAT Guwahati)

ITO Vs Shri Bimal Talukdar (ITAT Guwahati) The issue under consideration is whether the penalty proceeding u/s 271(1)(c) initiated by the AO sustain Under Income Tax Law? In the present case, the ITAT earlier had allowed the appeal of the assessee and cancelled the penalty levied u/s. 271(1)(c) of the Act by taking note of […]...

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No Adjournment in absence of ‘Vakalatnama’ based on Principle of Natural Justice

RNB Carbide & Ferro Alloys Pvt. Ltd. Vs ITO (ITAT Guwahati)

Adjournment can be granted in the absence of 'Vakalatnama' based on Principle of Natural Justice. Therefore, all the Misc. Applications of the assessee are allowed....

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Limited Scrutiny cannot be converted to Complete Scrutiny without following CBDT Circular

Shri Prabir Das Vs ITO (ITAT Guwahati)

whether the AO can expand the assessment from ‘Limited Scrutiny’ to ‘Complete Scrutiny’ without following the procedure as laid by the CBDT Circular?...

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Income earned by assessee from letting out various shops/stalls in shopping malls constructed by it is business income

DCIT Vs ATC Realtors Pvt. Ltd. (ITAT Guwahati)

Assessee had developed shopping mall on a property owned by it and by providing host of services/facilities amenities in the said mall and as such, basic intention of assessee was commercial exploitation of its property by developing it as shopping malls, therefore, income earned by assessee from letting out various shops/stalls in shoppi...

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