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CIT(A) Shall Not Delete Disallowance Merely By Accepting Taxpayer's Contentions Without Dealing With Findings Of AO: Ahmedabad ITAT

Finding that the CIT(A) has deleted the disallowance merely by accepting the contentions of the assessee before it without dealing with the finding of the AO, the Ahmedabad ITAT directed the CIT(A). ....

Saumya Pandey Jain , Kiran Gems Pvt Ltd , Annapurna Gupta , Accountant Member , Madhumita Roy , Judicial Member , Kiran Gems , Saumya Pandey , Ahmedabad Itat , Reassessment Proceedings ,

Ahmedabad ITAT Explains Difference Between Letter Of Credit From Corporate Guarantee

While upholding ALP adjustment on LOC in case of Axis Bank, the Ahmedabad ITAT rules on difference between letter of comfort (LOC) and guarantee commission. With respect to LOC being equated to. ....

Parimalsinhb Parmar , Tushar Hemani , Annapurna Gupta , Judicial Member , State Bank , Safe Harbour , Advocate Tushar Hemani , Ahmedabad Itat , Lp Adjustment , Axis Bank , Etter Of Comfort Loc , Guarantee Commission , Ank Guarantee ,

Volume Discount & Geography Adjustments Shall Be Considered While Determining TP Adjustment: Ahmedabad ITAT

The Ahmedabad ITAT remitted the issue of granting business volume discount adjustment and geographical difference adjustment for determination of ALP in case of company engaged in the business of. ....

Parin Shah , Annapurna Gupta , Accountant Member , Judicial Member , Tax Payer , Ahmedabad Itat , Usiness Volume Discount Adjustment , Eographical Difference Adjustment , Manufacturing Chemicals , Lp Adjustment ,

Only Requirement To Be Fulfilled For Claiming Expenses U/s 57(Iii) Is That They Must Be Incurred Wholly For Earning Income From Other Sources: Ahmedabad ITAT

The Ahmedabad ITAT held that in the absence of the Assessing Officer pointing out as to how despite the assessee s explanation, there was no nexus between the interest-bearing funds and their. ....

Jaimin Shah , Annapurna Gupta , Accountant Member , Madhumita Roy , Judicial Member , Assessing Officer , Ahmedabad Itat , Ssessing Officer , Assessees Explanation , Interest Income , S 57 Iii Of The Income Tax Act ,

Payment Of Excessive Or Unreasonable Salary Is Sine Qua Non For Invoking Provision Of Sec 40A(2)(B): Ahmedabad ITAT

On finding that none of the orders passed by I-T Authorities doubted the services so rendered by the administrative head nor alleged to have been paid salary excessive or unreasonable which is sine. ....

Tamil Nadu , Prashant Upadhyay , Madras High Court , Computer Graphic Ltd , Madhumita Roy , Judicial Member , Annapurna Gupta , Accountant Member , Graphic Ltd , Ahmedabad Itat , Hit Authorities , Ine Qua Non , Section 40a 2b Of The Income Tax Act , S 40a 2b ,