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8 results for “disallowance”+ Section 40bclear

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Delhi29 Kolkata12 Mumbai11 Ahmedabad8 Bangalore6 Jaipur5 Chennai4 Surat3 Hyderabad2 Raipur2 Chandigarh1 Pune1 Rajkot1 Lucknow1 Cochin1 Karnataka1 Cuttack1

Key Topics

Section 143(2)8 Section 407 Section 1316 Section 1486 Addition to Income6 Section 80I5 Section 133A5 Disallowance5 Section 143(3)4 Section 28

SUN PHARMACEUTICAL INDUSTRIES,MUMBAI vs. JCIT 20(3), MUMBAI

In the result appeal of the Revenue is hereby dismissed

ITA 3507/MUM/2016[2011-12]Status: DisposedITAT Ahmedabad24 Aug 2022AY 2011-12

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed

For Appellant: Shri S.N. Soparkar, Sr. AdvocateFor Respondent: Shri Mohd Usman, CIT-DR

disallowed by the AO with help of section 40b of the Act. Explanation 4 to section 40b talks of working

THE JT.CIT(OSD) ANAND CIRCLE, ANAND vs. M/S. ASIAN FOOD INDUSTRIES, KHEDA

In the result, the appeal of the Revenue is dismissed

ITA 159/AHD/2022[2016-17]Status: DisposedITAT Ahmedabad30 Sept 2022

4

Survey u/s 133A4

AY 2016-17

Bench: Shri P.M. Jagtap, Vice- & Ms. Suchitra R. Kambleassessment Year : 2016-17 The Joint Commissioner Of M/S. Asian Food Industries, Income-Tax (Osd), Vs N.H. No. 8, Opp. Escort Tractor, Anand Circle, Post. Dabhan, Tal. Nadiad, Anand Dist. Kheda, Dabhan-387320 Pan : Aaefa 1288 Q (Appellant) (Respondent) Assessee By : Shri D.K. Parikh, Ar Revenue By : Shri Satish Solanki, Sr. Dr. सुनवाई क" तार"ख/Date Of Hearing : 30/09/2022 घोषणा क" तार"ख /Date Of Pronouncement: 30/09/2022

For Appellant: Shri D.K. Parikh, ARFor Respondent: Shri Satish Solanki, Sr. DR

Section 143(2)Section 28Section 29Section 30Section 40

Section 40B of the Act 8. Counsel for the revenue vehemently contended that for the purpose of ascertaining the limit, only business income would be relevant and not any other income. In the present case, however, we need not enter into such controversy. The assessee had held out that it is in the business of purchasing raw cotton and ginning

THE ACIT, KHEDA CIRCLE, NADIAD vs. M/S. ASIAN FOOD INDUSTRIES,, NADIAD

In the result, revenue’s appeal is dismissed

ITA 277/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad28 Jan 2019AY 2012-13

Bench: Shri Pramod Kumar & Ms. Madhumita Roy

For Appellant: Shri S. K. Dev, Sr. D. RFor Respondent: Shri D. K. Parikh, A. R

Section 142(1)Section 143(2)Section 143(3)Section 28Section 29Section 30Section 40Section 40b

disallowance of partner's remuneration in accordance with the provision of section 29 of the Act, wherein the procedure for determination of profit & gain of business referred to in section 28 of the Act by applying the various provisions contained in section 30 to 43D of the Act has been laid down. Relief claimed in appeal. The order

M/S. HAJI ALI & SONS,BARODA vs. THE INCOME TAX OFFICER, WARD-3(1), BARODA

In the result the appeal filed by the assessee is partly allowed

ITA 467/AHD/2016[2011-12]Status: DisposedITAT Ahmedabad19 Aug 2020AY 2011-12

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./Ita No. 467/Ahd/2016 "नधा"रण वष"/Asstt. Year: 2011-2012 M/S Haji Ali & Sons, Income Tax Officer, Market Bazar, Vs. Ward 3(1) Near Tower, Baroda. Dabhoi, Baroda-391110. Pan: Aabfh4949J

For Appellant: Shri Hardik Vora, A.RFor Respondent: Shri Dileep Kumar, Sr.D.R

Section 133ASection 234ASection 271Section 40b

disallowance of Remuneration to Partners amounting to Rs.1,53,346/- on the ground that the same is not permissible under section 40b

THE ITO, WARD-4(2)(2), AHMEDABAD vs. GAJANAND DEVELOPERS, AHMEDABAD

In the result, the appeal of the Revenue is dismissed

ITA 951/AHD/2019[2013-14]Status: DisposedITAT Ahmedabad14 Oct 2022AY 2013-14

For Appellant: Shri R.B. Tank, A.RFor Respondent: Ms. Pooja Parekh, Sr. D.R

Section 36(1)Section 37(1)Section 68

40b is not allowed. Sr. Name of the Share Capital Interest Max Amount No. Partner of added in allowed in Credited in Profit Rs. Rs. Rs. 1 Shri 5% 6461473 682330 7143803 Dharmeshbhai S Patel 2 Shri Pravin S 5% 6461473 682330 7143803 Patel 3 Shri Umeshbhai 5% 6461473 682330 7143803 R Panchal TOTAL 19384419 2046990 21431409 9.3 The amount

PATEL AMBALAL LAXMANDAS NI CO.,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-2(3), AHMEDABAD

In the result, all the appeals filed by the Assessee are hereby dismissed

ITA 1018/AHD/2019[2011-12]Status: DisposedITAT Ahmedabad22 Jul 2022AY 2011-12

For Appellant: Shri Suresh Gandhi, A.RFor Respondent: Shri V.K. Singh, Sr.D.R

Section 131Section 133ASection 143(2)Section 143(3)Section 147Section 148

40b (v) of the Act as the assessee had only paid a sum of Rs.1,85,666/- as remuneration to the partners as evident from the computation of total income filed with the return of income. Penalty notice u/s. 274 r.w.s. 271(1) (c) is being issued separately for concealment of income. Penalty notice u/s. 271 A(1) (c) r.w.s

PATEL AMBALAL LAXMANDAS NI CO.,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-2(3), AHMEDABAD

In the result, all the appeals filed by the Assessee are hereby dismissed

ITA 1016/AHD/2019[2010-11]Status: DisposedITAT Ahmedabad22 Jul 2022AY 2010-11

For Appellant: Shri Suresh Gandhi, A.RFor Respondent: Shri V.K. Singh, Sr.D.R

Section 131Section 133ASection 143(2)Section 143(3)Section 147Section 148

40b (v) of the Act as the assessee had only paid a sum of Rs.1,85,666/- as remuneration to the partners as evident from the computation of total income filed with the return of income. Penalty notice u/s. 274 r.w.s. 271(1) (c) is being issued separately for concealment of income. Penalty notice u/s. 271 A(1) (c) r.w.s

PATEL AMBALAL LAXMANDAS NI CO.,AHMEDABAD vs. THE ACIT, CENTRAL CIRCLE-2(3), AHMEDABAD

In the result, all the appeals filed by the Assessee are hereby dismissed

ITA 1014/AHD/2019[2009-10]Status: DisposedITAT Ahmedabad22 Jul 2022AY 2009-10

For Appellant: Shri Suresh Gandhi, A.RFor Respondent: Shri V.K. Singh, Sr.D.R

Section 131Section 133ASection 143(2)Section 143(3)Section 147Section 148

40b (v) of the Act as the assessee had only paid a sum of Rs.1,85,666/- as remuneration to the partners as evident from the computation of total income filed with the return of income. Penalty notice u/s. 274 r.w.s. 271(1) (c) is being issued separately for concealment of income. Penalty notice u/s. 271 A(1) (c) r.w.s