ITAT Ahmedabad Holds On-Money Receipts from Real Estate Business Taxable as Business Income The ITAT Ahmedabad ruled in favour of M/s Sudarshan Status Corporation and held that the Income Tax Department could not use rectification proceedings under Section 154 to change the nature of income already accepted during scrutiny assessment. The case related to Assessment…
Senior Citizen Taxpayer Gets Relief as ITAT Accepts Reasonable Cause for Non-Filing of Return Sarojben Urmishbhai Shah filed the present case against the ITO in ITAT, Ahmedabad, challenging the order passed by CIT(A) dated 12.01.2026 (AY 2016-17). Background of the case The taxpayer had not originally filed her income tax return under Section 139. Later,…
ITAT Remands Section 80GGC Political Donation Case for Fresh Verification The ITAT Ahmedabad remanded the matter to the tax authorities for fresh verification of the assessee’s Rs 5 lakh political donations claimed under Section 80GGC of the Income Tax Act. In the present case, the tax authorities had reopened the assessee’s case on the grounds…
ITAT Ahmedabad Sends Back Section 80GGC Political Donation Dispute for Fresh Examination The ITAT Ahmedabad, in a recent ruling, favoured the case of Karsanbhai Natvarlal Ravat concerning the disallowance of a political donation deduction claimed under Section 80GGC of the Income Tax Act for Assessment Year 2019-20. The assessee, Karsanbhai Natvarlal Ravat, had claimed a…
Income Tax: Section 40A(2)(a) Not Applicable on Share Investment Without Claimed Expenditure, says ITAT ITAT Ahmedabad held that Section 40A(2)(a) could not be invoked merely because shares were purchased from an associate concern, especially when they were shown as long-term investments and no related expenditure was claimed. It also ruled that fair market value cannot…
ITAT Restores Matter After AO Failed to Verify Property Transaction Nature The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) remanded a matter involving long-term capital gains (LTCG) addition after finding inconsistencies in the nature of immovable property transactions and lack of proper factual verification by the Assessing Officer (AO). A Bench comprising Judicial…
ITAT Accepts Delay Due to Death of Person Handling Accounts, Restores Matter for Reconsideration The Income Tax Appellate Tribunal (ITAT), Ahmedabad, has provided relief to a company by condoning huge delays that happened due to the death of the person handling the accounts for the assessee trust. The assessee, Gujarat Sales Tax Bar Association, a…
Taxpayer not required to prove irrecoverability for claiming bad debts written off from books: ITAT The Income Tax Appellate Tribunal (ITAT), Ahmedabad, granted significant relief to the company in key issues such as taxation of gains on the sale of assets, applicability of rectification under Section 154, and allowability of bad debts. The assessee, Madhavpura…
Additions Based on Third-Party Statements Not Sustainable: ITAT The ITAT Ahmedabad allowed the assessee’s appeal, holding the reassessment invalid for lack of proper procedure and nexus, and deleted the Rs 94.50 lakh additions as unsustainable in law and on facts. The present appeal has been filed by Crystal Quinone Private Limited against DCIT, challenging the…
Student’s Details Misused by Travel Agent: ITAT Quashes Unexplained Income Addition The ITAT Ahmedabad deletes the Rs 12.11 lakh addition made on the assessee’s income on the grounds of unexplained deposits of about 10 lakh made during the assessment year 2011-12 in the bank account with Dena Bank. The tribunal notes that the assessee’s details…
We use cookies to improve your experience on our site. By using our site, you consent to cookies.
Manage your cookie preferences below:
Essential cookies enable basic functions and are necessary for the proper function of the website.
These cookies are needed for adding comments on this website.
Statistics cookies collect information anonymously. This information helps us understand how visitors use our website.
Google Analytics is a powerful tool that tracks and analyzes website traffic for informed marketing decisions.
Service URL: policies.google.com (opens in a new window)
You can find more information in our Cookie Policy and Private: Privacy Policy for BizFlowKit.