The ITAT Guwahati upholds the disallowance concerning the delay in depositing the Employees’ Contribution Fund in the case of Poddar Car World Pvt Ltd vs ACIT.
Discussing the recent ITAT Guwahati order that dismissed a revenue appeal, citing that the tax effect involved was less than the CBDT-prescribed monetary limit. Exploring the case of ITO vs Hotchand Kalachand Loungani.
A detailed overview of ITAT Guwahati’s ruling in the case of S.B. Traders Vs ACIT, where the Tribunal called for re-adjudication due to insufficient opportunity provided to the assessee.
ITAT Gauhati held that deduction of tax at source not liable as payment of rent was made to assessee who are not liable to pay tax in terms of exemption u/s 10(26) of the Income Tax Act. Accordingly, assessee cannot be held to be ‘assessee in default’.
ITAT Guwahati held that submission of documents proved the identity of the creditors, however, genuineness of the transactions is not proved. Matter set aside for fresh consideration.
No addition could be made to an undisclosed contract receipt from the business of purchase and sale of fish as to some extent, the uniform rate of 8% available in Section 44AD applicable on some contractor was not to be applied on every time on every type of business. AO was directed to take an estimated income at 4% and credit of income disclosed by assessee was to be given
ITO Vs Manumati Boro (ITAT Guwahati) Revenue has challenged the finding of the ld. CIT(A) deleting the addition for undisclosed sale and sustaining the addition only to the extent of net profit element embedded in the alleged undisclosed sale. We notice that the ld. Assessing Officer based on the seized records impounded during the course […]
Shri Altaf Hussain Laskar Vs DCIT (ITAT Guwahati) The case of the assessee is that he has committed certain mistakes in computing the income originally, whereby certain exempt income was included as taxable and certain perquisites were claimed as exempt in the revised return. In other words, earlier assessee has included the value of LIC […]
ITAT Gauhati held that TDS not required to be deduct by the partnership firm on salary, bonus, commission or remuneration given/ credited to the partner of the firm.
Shivdham Industries P. Ltd Vs DCIT (ITAT Guwahati) It has been stated before us by the ld. Counsel for the assessee that in the return of income filed in Form no. ITR-6 in Schedule CFL, the assessee has furnished ‘details of loss to be carried forward to future years’ totaling to Rs. 82,89,050/- which included […]
