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Tag: ITAT Ahmedabad

COMPLIANCE

Taxpayer fights and gets big relief against Rs 2.28 crore income tax notice; ITAT Ahmedabad reduced it to only Rs 63,000

byAdmin23/11/202523/11/2025

Mr. Bandopadhaya (name withheld) had the worst day ever when the income tax department sent him a draft assessment order that added Rs 2.28 crore (2,28,14,293) to his account.

GST ArticleIncome Tax Tribunal

Oil wells are plant and machinery and eligible for higher depreciation

byCA Bimal Jain11/06/202311/06/2023

The ITAT, Ahmedabad in the case of M/s.Joshi Technologies International Inc. v. The Asst. Director of Income Tax [ITA Nos.…

GST ArticleIncome Tax Tribunal

No penalty leviable when income assessed shown in income tax return

byCA Bimal Jain05/06/202305/06/2023

The ITAT, Ahmedabad in the matter of the DCIT, Central Circle-1(1), Ahmedabad v. NBM Iron & Steel Trading Pvt. Ltd.…

GST ArticleIncome Tax Tribunal

No penalty can be levied if income already taxed in the hands of another entity

byCA Bimal Jain22/02/202322/02/2023

The ITAT, Ahmedabad in Amitkumar Hasmukhbhai Shah v. Deputy CIT [ITA Nos. 517 & 518/Ahd/2019 dated January 18, 2023] has…

GST ArticleIncome Tax Tribunal

Assessee cannot claim exemption of LTCG based on unregistered Banakhat agreement

byCA Bimal Jain21/02/202321/02/2023

The ITAT, Ahmedabad in Shri Navghanbhai Laxman Rabari v. ITO [ITA No.1864/AHD/2019 dated January 18, 2023] has held that, the…

GST ArticleIncome Tax Tribunal

Entire amount cannot be added to income when assessee is not able to prove the genuineness of the party

byCA Bimal Jain24/12/202224/12/2022

The ITAT, Ahmedabad in the case of M/s. Accra Pac (India) Pvt. Ltd. v. D.C.I.T [ITA No. 514/Ahd/2018 dated November…

GST ArticleIncome Tax ArticleIncome Tax Tribunal

Personal savings of a government employee cannot be suspected for several years

byCA Bimal Jain17/12/202217/12/2022

The Income Tax Appellate Tribunal, Ahmedabad Bench (“the ITAT”) in PiyushbhaiMangalbhai Patel Vs Income Tax Officer [I.T.A. No.198/Ahd/2020 dated October…

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