![Income Tax Recovery Proceedings cannot initiate during Pendency of Appeals before CIT(A): Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Gujarat-High-Court-Income-Tax-CITA-Taxscan.jpg "Income Tax Recovery Proceedings cannot initiate during Pendency of Appeals before CIT(A): Gujarat HC [Read Order]")
Income Tax Recovery Proceedings cannot initiate during Pendency of Appeals before CIT(A): Gujarat HC [Read Order]
In a significant ruling, the Gujarat High Court has held that Income tax recovery proceedings cannot initiate during pendency of appeals...
![Once Cash Withdrawals are Proven, Burden Shifts to Income Tax Dept to Disprove their Use for Deposits: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Cash-Withdrawal-Income-Tax-Dept-Income-Tax-Income-Tax-Dept-disproving-deposits-Taxscan.jpg "Once Cash Withdrawals are Proven, Burden Shifts to Income Tax Dept to Disprove their Use for Deposits: ITAT [Read Order]")
![Notice issued u/s 148A(B) of Income Tax Act against dissolved Firm Is Invalid: Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Gujarat-High-Court-Income-Tax-Section-148AB-of-Income-Tax-Act-Income-Tax-Act-Dissolved-firm-tax-notice-Taxscan.jpg "Notice issued u/s 148A(B) of Income Tax Act against dissolved Firm Is Invalid: Gujarat HC [Read Order]")
![S. 68 of Income Tax Act not Invokable in absence of unexplained Amount in Bank Statement: Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Gujarat-High-Court-Income-Tax-Act-Section-68-of-Income-Tax-Act-TAXSCAN.jpg "S. 68 of Income Tax Act not Invokable in absence of unexplained Amount in Bank Statement: Gujarat HC [Read Order]")
Credit Cannot Be Blocked In Electronic Credit Ledger in Absence of Availability of Sufficient Balance: Gujarat HC [Read Order]
The Gujarat High Court in a recent case ruled that there cannot be any blocking of the credit in electronic credit ledger if there is no sufficient balance available. The Division Bench ruled as...
![Credit Cannot Be Blocked In Electronic Credit Ledger in Absence of Availability of Sufficient Balance: Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Gujarat-Hih-Court-Electronic-Credit-Ledger-Credit-Cannot-Be-Blocked-Insufficient-funds-in-ledger-Credit-blocking-without-sufficient-balance-taxscan.jpg "Credit Cannot Be Blocked In Electronic Credit Ledger in Absence of Availability of Sufficient Balance: Gujarat HC [Read Order]")
Gujarat High Court directs to Avoid Pedantic Approach while considering Petition u/s. 119(2)(b) Income Tax Act, Condones 1 Year Delay in Filing Return [Read Order]
In a recent case, the Gujarat High Court directed to avoid pedantic approach while considering petition under section 119(2)(b) Income Tax Act, 1961 and condoned one year delay in filing return. ...
![Gujarat High Court directs to Avoid Pedantic Approach while considering Petition u/s. 119(2)(b) Income Tax Act, Condones 1 Year Delay in Filing Return [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Gujarat-High-Court-Income-Tax-Act-Income-Tax-Income-tax-filing-Income-tax-return-delay-condonation-taxscan.jpg "Gujarat High Court directs to Avoid Pedantic Approach while considering Petition u/s. 119(2)(b) Income Tax Act, Condones 1 Year Delay in Filing Return [Read Order]")
Assessee Not Required To Produce Documents When AO Accepted Co-Owner’s Indexed Renovation Expenses in Income Tax Assessment order: Gujarat HC [Read Order]
The Gujarat High Court in a recent case has held that the assessee is not required to produce documents when the Assessing officer ( AO ) accepted co-owner’s indexed renovation expenses in income tax...
![Assessee Not Required To Produce Documents When AO Accepted Co-Owner’s Indexed Renovation Expenses in Income Tax Assessment order: Gujarat HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Gujarat-High-Court-Income-Tax-Assessment-order-Indexed-Renovation-Expenses-taxscan.jpg "Assessee Not Required To Produce Documents When AO Accepted Co-Owner’s Indexed Renovation Expenses in Income Tax Assessment order: Gujarat HC [Read Order]")
No Adjustments required for Intangible Asset Amortization u/s 115JB: ITAT rules for Sun Pharma Labs Ltd. [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) stating that no adjustments were required for the amortization of intangible assets while calculating book profits under Section 115JB of...
![No Adjustments required for Intangible Asset Amortization u/s 115JB: ITAT rules for Sun Pharma Labs Ltd. [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Sun-Pharma-Labs-Ltd-Taxscan.jpg "No Adjustments required for Intangible Asset Amortization u/s 115JB: ITAT rules for Sun Pharma Labs Ltd. [Read Order]")
Issuance of Pre' Consultation Notice in Form DRC 01A is not Compulsory from 15 th October, 2020: Gujarat HC [Read Order]
In a recent case, the Gujarat High Court held that issuance of Pre' Consultation notice in Form DRC 01A is not compulsory from 15 th October, 2020. The court viewed that though the requirement of...
Relief to Adani Wilmar: Notional Guarantee Income Increasing Investment Cost cannot be Treated as Actual Income, Rules ITAT [Read Order]
In a recent ruling, the Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) ruled that that notional guarantee increasing investment cost cannot be treated as actual income. The...
![Relief to Adani Wilmar: Notional Guarantee Income Increasing Investment Cost cannot be Treated as Actual Income, Rules ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/Relief-to-Adani-Wilmar-Notional-Guarantee-Income-Increasing-Investment-Cost-Treated-Actual-Income-ITAT-taxscan.jpg "Relief to Adani Wilmar: Notional Guarantee Income Increasing Investment Cost cannot be Treated as Actual Income, Rules ITAT [Read Order]")