THE DCIT, CIRCLE-1(1)(1),, VADODARA vs. M/S. GUJARAT INFRA PIPES PVT. LTD.,, VADODARA
In the result, the appeal filed by the Revenue is hereby dismissed
ITA 987/AHD/2017[2013-14]Status: DisposedITAT Ahmedabad03 Apr 2024AY 2013-14
Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumar
For Appellant: Shri M.K. Patel, ARFor Respondent: Shri Kamlesh Makwana, CIT-DR and Shri Ashok Kumar Suthar, Sr.DR
Section 143(3)Section 40A(3)Section 43BSection 50C
viib) are not taxable under Income-tax Act or any other
Act. During the period, when Gift Tax Act was in existence, gifts by companies as well as by any other person were taxable under the Gift Tax Act only and there was no provision for taxing it under the Income-tax Act. Therefore, gifts were not separately taxed under
