Tag Archives: IN THE ITAT AHMEDABAD BENCH

Gross movement of third-party funds in Angadia business cannot be added as unexplained cash; only realistic commission is taxable.

By | October 21, 2026
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Gross movement of third-party funds in Angadia business cannot be added as unexplained cash; only realistic commission is taxable. Issue Whether gross principal amounts recorded in seized notebooks and mobile data of an Angadia operator represent undisclosed income under section 69A, or merely third-party funds transmitted in the ordinary course of business. Whether an ad-hoc… Read More »

Transporter TDS Exemption Declarations and Form 26A Physical Filingcs Require Detailed Verification Upon Remand

By | October 17, 2026
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Transporter TDS Exemption Declarations and Form 26A Physical Filingcs Require Detailed Verification Upon Remand Issue Validity of Section 194C(6) Declarations: Whether a transporter declaration lacking specific freight details or registration numbers can be rejected without confronting the assessee with discovered discrepancies, or solely because it is not formatted as per Circular No. 19/2015. Acceptance of… Read More »

Additions for Cash, Jewellery, and Cheques Deleted as Explained, While Section 147 Proceedings Are Upheld

By | October 17, 2026
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Additions for Cash, Jewellery, and Cheques Deleted as Explained, While Section 147 Proceedings Are Upheld Issue Validity of Section 147 Reassessment: Whether reopening under Section 147 is procedurally valid when assets are seized by the Anti-Corruption Bureau (ACB) without any formal action under Section 132 or requisition under Section 132A. Addition for Cash (Section 69A):… Read More »

Belated New Tax Regime Option Denied for AY 2021-22, But Form 10-IE Sustains Future Benefits

By | October 14, 2026
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Belated New Tax Regime Option Denied for AY 2021-22, But Form 10-IE Sustains Future Benefits Belated New Tax Regime Option Denied for AY 2021-22, But Form 10-IE Sustains Future Benefits Issue AY 2021-22: Whether an individual who files Form 10-IE and exercises the option for the new tax regime under Section 115BAC after the due… Read More »

Stamp Duty Value Increase Post Land Conversion Paid by Buyer Cannot Trigger Section 56(2)(x) Addition

By | September 19, 2026
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Stamp Duty Value Increase Post Land Conversion Paid by Buyer Cannot Trigger Section 56(2)(x) Addition Issue Whether an addition under Section 56(2)(x) based on stamp duty valuation is justified when the higher stamp duty value resulted from land conversion funded entirely by the buyer and the underlying agreement was executed prior to the insertion of… Read More »

Section 14A disallowance applies only to exempt-income-yielding investments, and duplicate additions are impermissible.

By | September 19, 2026
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Section 14A disallowance applies only to exempt-income-yielding investments, and duplicate additions are impermissible. Section 14A disallowance applies only to exempt-income-yielding investments, and duplicate additions are impermissible. Issue Whether disallowance under Section 14A read with Rule 8D is to be computed considering only investments that yielded exempt income during the year. Whether an addition made under… Read More »

Rebate under Section 87A cannot be restricted against Section 111A gains merely by administrative circular.

By | September 8, 2026
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Rebate under Section 87A cannot be restricted against Section 111A gains merely by administrative circular. Issue Whether an administrative circular (CBDT Circular No. 13/2025) can restrict or deny the Section 87A rebate against tax payable on short-term capital gains under Section 111A under the new tax regime (Section 115BAC) for Assessment Year 2025-26 when no… Read More »

Revision Under Section 263 Quashed as Contribution to Approved Gratuity Fund Exceeding 8.33% Is Allowable

By | September 5, 2026
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Revision Under Section 263 Quashed as Contribution to Approved Gratuity Fund Exceeding 8.33% Is Allowable Issue Whether the Principal Commissioner was justified in invoking revisionary jurisdiction under Section 263 to disallow an assessee’s actuarially-determined contribution to an approved gratuity fund on the ground that it exceeded the 8.33% salary limit specified in Rule 103 of… Read More »

ITAT deletes transfer pricing royalty adjustment, disallowances under section 14A and section 40(a)(i), remanding other issues.

By | September 5, 2026
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ITAT deletes transfer pricing royalty adjustment, disallowances under section 14A and section 40(a)(i), remanding other issues. Issue Whether transfer pricing adjustments on royalty and commission, capital gains indexation, section 54G additional exemption claims, overseas commission withholding taxes, and section 14A disallowance are sustainable. Facts Royalty TP Adjustment (AY 2012-13 & 2013-14): Assessee paid an 8%… Read More »

Depreciation on Acquired Intangibles Allowed and Captive Power and Steam Transfers Upheld at Market Value

By | September 3, 2026
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Depreciation on Acquired Intangibles Allowed and Captive Power and Steam Transfers Upheld at Market Value Issue Whether an assessee is entitled to depreciation under Section 32 on intangible assets (brands and trade names) acquired pursuant to a demerger, when the issue is covered by Tribunal orders in the assessee’s own case for earlier years. Whether… Read More »