2023-TIOL-352-ITAT-AHM
Rashmin Ramniklal Vora Vs ITO
Whether as per specific provision of Section 28(v) of the Income Tax any interest, salary etc. earned by a partner from a partnership firm is taxable under the head profit and gains of business or profession and there is no question of categorizing it under the head income from other source - YES: ITAT
- Appeal dismissed: AHMEDABAD ITAT
2023-TIOL-351-ITAT-AHM
Bara Machines Pvt Ltd Vs ITO
Whether set off of business loss can be disallowed solely on grounds that the assessee did not file ITR u/s 139(1), where the provisions of Section 71 of the I-T Act do not require the same - NO: ITAT
- Appeal allowed: AHMEDABAD ITAT
2023-TIOL-350-ITAT-DEL
Perfect Press Pvt Ltd Vs ITO
Whether it is fit case for remand where value of stamp duty u/s 50C warrants fresh computation, where the due procedure prescribed for Fair Market Valuation is not followed - YES: ITAT
- Case remanded: DELHI ITAT
2023-TIOL-349-ITAT-RAJKOT
Sumariben R Odedra Vs ITO
Whether where assessee has offerred 8% tax u/s 44AD on cash deposits made in own bank account, in that case, additions framed u/s 69A merit being set aside, considering how in precedent cases, the tax has been restricted to much lower rates - YES: ITAT
- Appeal allowed: RAJKOT ITAT
