DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE 1(1), AHMEDABAD, AHMEDABAD vs. PRIYA BLUE INDUSTRIES PVT. LTD, GUJARAT

In the result the appeals filed by the Revenue in ITA No

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

disallowing [c] Unexplained rental expenses of Rs. 5,00,000/= [d] Unaccounted profit of. Rs.11,29,61,022/= [e] Suppression of sale - Gas turbine Rs. 3,41,34,100/=. 2.3. Ld TPO, while passing the order u/s 92CA(3) has accepted the underlying transactions to be at Arms Length Pricing [ALP] and therefore not made any adjustment in relation

DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE 1(1), GUJARAT vs. PRIYA BLUE INDUSTRIES PVT. LTD., GUJARAT

In the result the appeals filed by the Revenue in ITA No

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

disallowing [c] Unexplained rental expenses of Rs. 5,00,000/= [d] Unaccounted profit of. Rs.11,29,61,022/= [e] Suppression of sale - Gas turbine Rs. 3,41,34,100/=. 2.3. Ld TPO, while passing the order u/s 92CA(3) has accepted the underlying transactions to be at Arms Length Pricing [ALP] and therefore not made any adjustment in relation

DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-1(1), AHMEDABAD, GUJARAT vs. PRIYA BLUE INDUSTRIES PVT. LTD., GUJARAT

In the result the appeals filed by the Revenue in ITA No

Bench: Shri T.R. SENTHIL KUMAR (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)

disallowing [c] Unexplained rental expenses of Rs. 5,00,000/= [d] Unaccounted profit of. Rs.11,29,61,022/= [e] Suppression of sale - Gas turbine Rs. 3,41,34,100/=. 2.3. Ld TPO, while passing the order u/s 92CA(3) has accepted the underlying transactions to be at Arms Length Pricing [ALP] and therefore not made any adjustment in relation

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-9(2),, AHMEDABAD

In the result, the appeal of the assessee is allowed

disallowance of business expenditure of Rs. 5,98,616/- the ld. counsel submitted that Assessing Officer has not found any fault with the genuineness of such expenses and therefore under such circumstances no penalty can be levied u/s. 271(1)(c) of the Act. Regarding penalty on account of addition of Rs. 2.80 lakhs

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-9(2),, AHMEDABAD

In the result, the appeal of the assessee is allowed

disallowance of business expenditure of Rs. 5,98,616/- the ld. counsel submitted that Assessing Officer has not found any fault with the genuineness of such expenses and therefore under such circumstances no penalty can be levied u/s. 271(1)(c) of the Act. Regarding penalty on account of addition of Rs. 2.80 lakhs

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-9(2),, AHMEDABAD

In the result, the appeal of the assessee is allowed

disallowance of business expenditure of Rs. 5,98,616/- the ld. counsel submitted that Assessing Officer has not found any fault with the genuineness of such expenses and therefore under such circumstances no penalty can be levied u/s. 271(1)(c) of the Act. Regarding penalty on account of addition of Rs. 2.80 lakhs

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE ADIT(EXEMPTION),, AHMEDABAD

In the result, the appeal of the assessee is allowed

disallowance of business expenditure of Rs. 5,98,616/- the ld. counsel submitted that Assessing Officer has not found any fault with the genuineness of such expenses and therefore under such circumstances no penalty can be levied u/s. 271(1)(c) of the Act. Regarding penalty on account of addition of Rs. 2.80 lakhs

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE ADIT(EXEMPTION),, AHMEDABAD

In the result, the appeal of the assessee is allowed

disallowance of business expenditure of Rs. 5,98,616/- the ld. counsel submitted that Assessing Officer has not found any fault with the genuineness of such expenses and therefore under such circumstances no penalty can be levied u/s. 271(1)(c) of the Act. Regarding penalty on account of addition of Rs. 2.80 lakhs

SHRI PAVAN M.SHARMA L/H OF LATE MAHESH L.SHARMA,AHMEDABAD vs. THE INCOME TAX OFFICER,WARD-9(2),, AHMEDABAD

In the result, the appeal of the assessee is allowed

disallowance of business expenditure of Rs. 5,98,616/- the ld. counsel submitted that Assessing Officer has not found any fault with the genuineness of such expenses and therefore under such circumstances no penalty can be levied u/s. 271(1)(c) of the Act. Regarding penalty on account of addition of Rs. 2.80 lakhs

ZYDUS LIFESCIENCES LTD.,AHMEDABAD vs. THE DY.CIT, CENTRAL CIRCLE-2(1), AHMEDABAD

In the result, appeal filed by the assessee is partly allowed for statistical purposes

Bench: SMT. ANNAPURNA GUPTA (Accountant Member), Ms. SUCHITRA KAMBLE (Judicial Member)

271G of the I.T. Act in respect to the international transaction of sale of finished goods by the Appellant to Zydus France, on the mere fact that the Appellant was not able to show the physical demonstration of DIANE database at the time of Covid-19 pandemic, thereby subjecting the Appellant to an act of "impossibility of performance". 3. Briefly