ITAT Ranchi

Disallowance u/s. 40(a)(ia) are outside the jurisdiction of section 154

Sri Sachin Sharma Vs ACIT (ITAT Ranchi)

Sri Sachin Sharma Vs ACIT (ITAT Ranchi) A perusal of provisions of section 194C of the Act shows that a person is liable to deduct TDS when a contract for work is of an amount more than Rs.30,000/- or where payment for work is made to a person more than Rs.75,000/- during the financial year. […]...

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Deemed dividend U/s. 2(22)(e): Advance in normal course of business

Sri Ajay Kumar Khatore Vs DCIT (ITAT Ranchi)

 Since trade advances obtained by assessee from its sister concern were in the nature of commercial transactions, would not fall within the ambit of the word ‘advance’ in section 2(22)(e)....

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Addition for sundry creditors without rejecting purchase are not sustainable

M/s. Gulf Steel & Minerals Vs ITO (ITAT Ranchi)

M/s. Gulf Steel & Minerals Vs ITO (ITAT Ranchi) The AO is wrong in making the impugned addition on account of sundry creditor, which are related to purchases and the same also accepted by the AO as genuine. Without rejecting the purchases, the sundry creditors cannot be treated as income of assessee  Therefore, addition made by [&he...

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