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ITAT Ahmedabad

Superannuation Contribution Allowable if Paid Before Return Due Date and Fund Is Approved: ITAT [Read Order]

Sneha Sukumaran Mullakkal

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that superannuation fund contribution is allowable as a deduction if paid before...

Disallowance of Related Party Payments u/s 40A(2)(b): ITAT Deletes Additions for AO’s Failure to...

Claim of LTCG Exemption from Penny Stock Transactions Found Bogus: ITAT Upholds Disallowance [Read...

ITAT Condones 224-Day Delay: Remands Modi Charitable Trust’s 12A & 80G Applications Over...

Disclosure alone Insufficient to Escape Applicability of Section 69A: ITAT [Read Order]

Failure to Prove Assessee's Share Ownership: ITAT deletes ₹2.53 Lakh Income Tax Addition u/s 68 in Client Code Modification Case

In a notable ruling reaffirming the necessity for concrete evidence in income tax assessments, the Income Tax Appellate Tribunal (ITAT) Ahmedabad has deleted an addition of ₹2.53 lakh made by the...

ITAT quashes PCIT Directions on TDS under Section 194J and Closing Stock Valuation [Read Order]

In partial relief to an assessee, the Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has quashed two major directions issued by the Principal Commissioner of Income Tax (PCIT) under Section...

ITAT upholds Revision on AO's Lapses in Verifying TDS on Rent and Unsecured Loans [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, has upheld the Principal Commissioner of Income Tax’s (PCIT) revisionary action under Section 263 of the Income Tax Act, 1961, against the...

ITAT upholds PCIT Order on Depreciation Disallowance, holds AO Ignored Rental Terms and Asset Usage Facts [Read Order]

The ITAT Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has upheld the revisionary order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax...

ITAT sets aside PCIT Order on Revenue Recognition, Holds No Revenue Prejudice as Income Declared in Subsequent Years [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) set aside an order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act, 1961. The bench...

ITAT directs De Novo Proceedings due to lack of Evidence to substantiate Deffered Revenue in P & L account [Read Order]

In a recent case, the Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) directs de novo proceedings due to lack of evidence to substantiate deferred revenue in the profit & loss...

ITAT Upholds Tax on Unsold Inventory as 'Income from House Property,' Directs Recalculation of ALV Based on Market Rates [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has upheld the taxability of unsold flats held as stock-in-trade under the head "Income from House Property," while remanding the...