ITAT Surat rules in Hasumatiben Jagdishbhai Patel vs. PCIT case, limiting further inquiry under Section 263 to issues directly connected with limited scrutiny. Detailed analysis provided.
The taxpayer vigorously argued that the disallowance was unwarranted as the supplementary partnership deed explicitly waived interest on capital and remuneration.
Vikram Udeshanghbhai Padhiyar vs. ITO case: ITAT Surat allows another chance for the Assessee due to non-compliance caused by email ID discrepancy.
ITAT Surat held that addition under section 68 of the Income Tax Act towards unexplained cash credit unjustified as creditworthiness of the loan giver established and transaction undertaken through banking channel.
ITAT Surat held that invocation of revisional jurisdiction under section 263 of the Income Tax Act unsustainable as order passed by AO was neither erroneous nor prejudicial to the interest of the revenue.
ITAT Surat held that AO cannot go beyond reason for which matter was selected for limited scrutiny. Thus, PCIT cannot pass revisionary order u/s. 263 of the Income Tax Act on other aspects outside the scope of limited scrutiny.
ITAT Surat held that revisionary order passed under section 263 of the Income Tax Act without considering reply of the assessee and without granting an opportunity of being heard is unsustainable in law as against the principles of natural justice.
In this article, we discuss case of Hasmukh Kanjibhai Tadhani Vs ITO (ITAT Surat) involving cash deposits during demonetization, with detailed analysis and outcome
Discover ITAT Surat’s decision in Keshri Export vs. ITO case for Assessment Year 2017-18. Learn why rejection of entire books of account was considered unnecessary
ITAT Surat held that addition under section 56(2)(x) on the Income Tax Act unsustainable as addition made in casual manner without considering payment made on account of various amenities.
