ITAT Ahmedabad Judgments, Orders & News | Income Tax Appellate Tribunal

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ITAT Ahmedabad

Explore the latest ITAT Ahmedabad judgments, orders, and appellate decisions on direct tax matters from the Ahmedabad bench of the Income Tax Appellate Tribunal

Re-Assessment without Formation of Belief of Escapement of Income based on Incorrect Facts is Invalid: ITAT [Read Order]

Aparna. M

The Ahmedabad Income Tax Appellate Authority ( ITAT ) has recently held that re-assessment of returns without the formation of belief of escapement...

Higher Rate of Depreciation at 50% Allowable on Commercial Vehicles Only: ITAT [Read Order]

Advance to Subsidiary Company Written Off Due to Non-Repayment shall be Deductible u/s 37(1) of...

Computer Software Eligible for Depreciation at 60%: ITAT [Read Order]

Addition cannot be Solely Based on Statement of Director of Company during Survey without...

Non-Registered Banakhat is Not A Valid Document for Property Transfer: ITAT disallows Capital Gain Exemption u/s 54F [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmadabad Bench, has recently, in an appeal filed before it, while disallowing capital gain exemption u/s 54 F, held that non- registered banakhat is not a...

TDS Credit shall be given for the Assessment year for which such Income is Assessable: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmadabad Bench, has recently, in an appeal filed before it, held that TDS credit shall be given for the assessment year for which such income is assessable....

No Penalty If Income Already Offered to Tax by Different Entity: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Ahmadabad Bench, has recently, in an appeal filed before it, held that no penalty can be imposed if income already offered to tax by a different entity. ...

On-Money received on Sale of Property @ 50% Booked Price is on A “Palpably Very High Side”: ITAT grants Partial Relief to Builder [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has granted relief to the builder observing that the on-money received on sale of property at 50% booked price was on a “Palpably very...

Profit from Sale of Carbon Credit is “Capital Receipt”, Not Taxable: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) observed that profit from the sale of Carbon Credit is “Capital Receipt” and held as not taxable. Gujarat Fluorochemicals Ltd, the...

TDS Credit cannot be Denied to Developer following Percentage Completion Method If Buyer Deducted Tax at the Time of Execution of Sale Deed: ITAT [Read Order]

The Ahmedabad bench of Income Tax Appellate Tribunal recently held Tax Deduction at Source could not be denied to developer following percentage completion method if buyer deducted Tax at the time of...

Gifts to Business Associates and Executives are “Business Promotion Expenses”, Deductible u/s 37 of Income Tax Act: ITAT [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) has held that the gifts to business associates and expenditure should be considered as business promotion expenses and are deductible...

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