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159 results for “section 68”+ Section 40A(2)clear

Sorted by relevance

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Key Topics

Disallowance70Addition to Income67Section 143(3)63Deduction40Section 14A34Section 40A(3)34Section 6826Depreciation25Section 4020Penalty

VARUN SATYAPAL SINGHAL,VADODARA vs. THE INCOMETAX OFFICER, WARD-1(2)(3( NOW THE DCIT, CIRCLE-1(1)(1), VADODARA

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

ITA 636/AHD/2023[2013-14]Status: DisposedITAT Ahmedabad10 Jun 2024AY 2013-14

Bench: Us, At The Outset, Ld. Counsel For The Assessee Submitted That He Shall Not Be Pressing For Ground Nos. 3, 4 & 5 Of His

Section 250Section 40ASection 40A(2)(a)Section 40A(2)(b)Section 41(1)Section 68

68 of Rs.67.89,405/- During the course of assessment proceedings it was noticed by AO that the appellant has paid interest @15% and up on deposits and unsecured loans and most of the persons are covered u/s 40A(2)(b) of the Act. For instance, in the case of M/s Mariya Ship Breaking Pvt. Ltd, who is a person covered

Showing 1–20 of 159 · Page 1 of 8

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Section 115J18
Section 40A(2)(b)18

RECKITT BENCKISER HEALTHCARE INDIA PVT. LTD., ( FORMERLY KNOWN AS RECKITT BENCKISER HEALTHCARE INDIA LTD.,),HARYANA vs. DCIT, CIRCLE-3(1)(2), AHMEDABAD

In the result, appeal of the Revenue is dismissed

ITA 1184/AHD/2018[2011-12]Status: FixedITAT Ahmedabad18 Feb 2025AY 2011-12

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

For Appellant: Shri Dhinal Shah, ARFor Respondent: Shri V. Nand Kumar, CIT-DR
Section 115JSection 143(3)Section 2Section 250Section 391Section 45

68,01,557 shares worth of Rs. 61,91,15,966/- of SAIL in return. I agree with the stand taken by the A.O and with due regards and respect to the order of Hon’ble High Court I hold that the said demerger was not as per the provisions of sec.2(19AA) of the Act for the reasons mentioned

JCIT(OSD), CIR-3(1)(2), AHMEDABAD vs. RECKITT BENCKISER HEALTHCARE (INDIA) LTD, HARYANA

In the result, appeal of the Revenue is dismissed

ITA 1225/AHD/2018[2011-12]Status: DisposedITAT Ahmedabad18 Feb 2025AY 2011-12

Bench: Dr. B.R.R. Kumar, Vice-Ms. Suchitra Kamble

For Appellant: Shri Dhinal Shah, ARFor Respondent: Shri V. Nand Kumar, CIT-DR
Section 115JSection 143(3)Section 2Section 250Section 391Section 45

68,01,557 shares worth of Rs. 61,91,15,966/- of SAIL in return. I agree with the stand taken by the A.O and with due regards and respect to the order of Hon’ble High Court I hold that the said demerger was not as per the provisions of sec.2(19AA) of the Act for the reasons mentioned

SABRI CHEMICALS PVT. LTD.,,BARODA vs. THE ACIT, CIRCLE-2(1)(1),, BARODA

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

ITA 1019/AHD/2016[2012-13]Status: DisposedITAT Ahmedabad15 Nov 2018AY 2012-13

Bench: Shri Waseem Ahmed & Smt Madhumita Royआयकर अपील सं./I.T.A. No. 1019/Ahd/2016 ("नधा"रण वष" / Assessment Year : 2012-13) Sabri Chemicals Pvt. Ltd., Acit, बनाम/ A/2/236, Gidc, Nandesari, Circle 2(1)(1), Vs. Baroda – 391 340. Baroda. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaccs 9406 K .. (अपीलाथ"/Appellant) (""यथ" / Respondent) Shri M. J. Shah, A.R. अपीलाथ" ओर से/ Appellant By : Shri Lalit P. Jain, Sr. D.R. ""यथ" क" ओर से/Respondent By:

For Appellant: Shri Lalit P. Jain, Sr. D.RFor Respondent: 04/10/2018
Section 143(3)Section 28Section 36(1)(va)Section 36(2)

section 40A(2)(b) and those who are not covered. But absence of such distinction cannot be taken to mean that the AO cannot lift the corporate veil and look into the real nature of transaction to establish that the apparent is not real and the transaction entered into by an assessee is nothing but a colourable Sabri Chemicals

SHAILESHKUMAR DAHYABHAI PATEL,VADODARA, GUJARAT vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE 2(1)(2) (NOW DCIT CIRCLE 2(1)(1), VADODARA, GUJARAT, VADODARA, GUJARAT

In the result, Ground Number 7 of the assessee’s appeal is allowed

ITA 2131/AHD/2025[2017-18]Status: DisposedITAT Ahmedabad26 Feb 2026AY 2017-18

Bench: Smt. Annapurna Gupta & Shri Siddhartha Nautiyal

For Appellant: Shri Milin Mehta & Shri Bhavin Marfatia, ARsFor Respondent: Shri Rameshwar P Meena, Sr. DR
Section 234BSection 234CSection 270ASection 271ASection 272A(1)(b)Section 6Section 68Section 69ASection 69C

68 of the Act, which has been deleted by us, the disallowance of interest cannot survive. Accordingly, Ground No. 6 is also allowed. 16. With respect to Ground Number 7 (disallowance of Interest expenses of Rs. 35.21 lakhs), the counsel for the assessee submitted that this interest payment is with respect to loans taken in earlier assessment years. Further

THE DCIT, CIRCLE-8,, AHMEDABAD vs. SHIVAM WATER TREATERS PVT. LTD.,, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

ITA 1447/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad06 May 2022AY 2009-10

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumar

For Appellant: Revenue by Shri Vijaykumar Jaiswal, CIT DR with Shri Urjit Shah, A.R
Section 40ASection 68

68 of the Act. Thus the ground of appeal raised by the Assessee is hereby allowed. 29. The next issue raised by the assessee is that the learned CIT-A erred in confirming the addition made by the AO for ₹ 15 Lacs under the provisions of section 40A(2

SHIVAM WATER TREATERS PVT. LTD.,,AHMEDABAD vs. THE DY. CIT, CIRCLE-8, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

ITA 187/AHD/2020[2011-12]Status: DisposedITAT Ahmedabad06 May 2022AY 2011-12

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumar

For Appellant: Revenue by Shri Vijaykumar Jaiswal, CIT DR with Shri Urjit Shah, A.R
Section 40ASection 68

68 of the Act. Thus the ground of appeal raised by the Assessee is hereby allowed. 29. The next issue raised by the assessee is that the learned CIT-A erred in confirming the addition made by the AO for ₹ 15 Lacs under the provisions of section 40A(2

SHIVAM WATER TREATERS PVT. LTD.,,AHMEDABAD vs. THE DY. CIT, CIRCLE-4(1)(1),, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

ITA 2557/AHD/2017[2012-13]Status: DisposedITAT Ahmedabad06 May 2022AY 2012-13

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumar

For Appellant: Revenue by Shri Vijaykumar Jaiswal, CIT DR with Shri Urjit Shah, A.R
Section 40ASection 68

68 of the Act. Thus the ground of appeal raised by the Assessee is hereby allowed. 29. The next issue raised by the assessee is that the learned CIT-A erred in confirming the addition made by the AO for ₹ 15 Lacs under the provisions of section 40A(2

SHIVAM WATER TREATERS PVT. LTD.,,AHMEDABAD vs. THE ACIT, (OSD), CIRCLE-8,, AHMEDABAD

In the result appeal of the assessee is partly allowed for statistical purposes

ITA 1320/AHD/2014[2009-10]Status: DisposedITAT Ahmedabad06 May 2022AY 2009-10

Bench: Shri Waseem Ahmed & Shri T.R. Senthil Kumar

For Appellant: Revenue by Shri Vijaykumar Jaiswal, CIT DR with Shri Urjit Shah, A.R
Section 40ASection 68

68 of the Act. Thus the ground of appeal raised by the Assessee is hereby allowed. 29. The next issue raised by the assessee is that the learned CIT-A erred in confirming the addition made by the AO for ₹ 15 Lacs under the provisions of section 40A(2

ACIT, CIRCLE-3(2), AHMEDABAD vs. M/S. KRAFT LAMINATE, AHMEDABAD

In the result, the appeal of the Revenue is partly allowed

ITA 1841/AHD/2018[2015-16]Status: DisposedITAT Ahmedabad16 Mar 2022AY 2015-16

Bench: Shri P.M. Jagtap, Vice- & Shri T.R. Senthil Kumarassessment Years : 2015-16 Assistant Commissioner Of M/S. Kraft Laminate, Income-Tax, Vs C/O. Laxmi Timber, Nr. Circle 3(2), Ahmedabad Mahalaxmi Textile Mill, Opp. Rajbai Patel Timber Market, Narol Naroda Highway, Narol, Ahmedabad-382405 Pan : Aamfk 8120 F अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Revenue By : Shri V.K. Singh, Sr. Dr Assessee By : Shri Manish J. Shah, Advocate सुनवाई क" तार"ख/Date Of Hearing : 24/02/2022 घोषणा क" तार"ख /Date Of Pronouncement: 16/03/2022 आदेश/O R D E R Per P.M. Jagtap, Vice-:

For Appellant: Shri Manish J. Shah, AdvocateFor Respondent: Shri V.K. Singh, Sr. DR
Section 68

68 of the Act. Ground No.2 of the Revenue’s appeal is accordingly dismissed. 11. The issue raised in Ground No.3 relates to the deletion by the learned CIT(A) of the addition of Rs.4,72,176/- made by the Assessing Officer by way of disallowance under Section 40A(3) of the Act. 12. During the course of assessment

THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA vs. ADITYA MEDISALES LIMITED,, VADODARA

In the result, the appeal of the assessee is partly allowed for statistical purpose, and the appeal of the Revenue is dismissed

ITA 1022/AHD/2019[2014-15]Status: DisposedITAT Ahmedabad06 May 2022AY 2014-15

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumarassessment Year :2014-15 Aditya Medisales Ltd. Dcit, Cir.1(1)(1) 402, 4Th Floor, R.K. Centre Vs Vadodara. Fatehgunj Vadodara 390 002. Pan : Aabca 9317 J Assessment Year :2014-15 Dcit, Cir.1(1)(1) Aditya Medisales Ltd. Vadodara. Vs 402, 4Th Floor, R.K. Centre Fatehgunj Vadodara 390 002. Pan : Aabca 9317 J

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri A.P. Singh,CIT DR and Shri V.K. Singh, Sr.DR
Section 115JSection 14Section 143Section 14ASection 234ASection 37Section 37(1)

68,36,993/-. The AO has noticed the details of such interest payment at page no.2 and 3 of the assessment order. It is further noticed by the AO that on examination of share pattern of the assessee company, assessee is an associate concern of these ITA No.983 & 1022Ahd/2019 9 entities. Such details given by the AO are mentioned

ADITYA MEDISALES LIMITED,,VADODARA vs. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1),, VADODARA

In the result, the appeal of the assessee is partly allowed for statistical purpose, and the appeal of the Revenue is dismissed

ITA 983/AHD/2019[2014-15]Status: DisposedITAT Ahmedabad06 May 2022AY 2014-15

Bench: Smt.Annapurna Gupta & T.R. Senthil Kumarassessment Year :2014-15 Aditya Medisales Ltd. Dcit, Cir.1(1)(1) 402, 4Th Floor, R.K. Centre Vs Vadodara. Fatehgunj Vadodara 390 002. Pan : Aabca 9317 J Assessment Year :2014-15 Dcit, Cir.1(1)(1) Aditya Medisales Ltd. Vadodara. Vs 402, 4Th Floor, R.K. Centre Fatehgunj Vadodara 390 002. Pan : Aabca 9317 J

For Appellant: Shri S.N. Soparkar, Sr.AdvocateFor Respondent: Shri A.P. Singh,CIT DR and Shri V.K. Singh, Sr.DR
Section 115JSection 14Section 143Section 14ASection 234ASection 37Section 37(1)

68,36,993/-. The AO has noticed the details of such interest payment at page no.2 and 3 of the assessment order. It is further noticed by the AO that on examination of share pattern of the assessee company, assessee is an associate concern of these ITA No.983 & 1022Ahd/2019 9 entities. Such details given by the AO are mentioned

HARISHKUMAR KHUSHALRAY BHATT,AHMEDABAD vs. THE ITO, WARD-3(3)(2) NOW WARD-3(3)(1), AHMEDABAD

In the result the appeal of the assessee is partly allowed for statistical purposes

ITA 2042/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad15 Jul 2025AY 2017-18

Bench: S/Shri T.R. Senthil Kumar & Makarand V.Mahadeokarasstt.Year : 2017-18 Harishkumar Khushalray Bhatt Ito, Ward-3(3)(2) P/1, Chandragupta Apartment Vs. Ahmedabad. Nr. Gordhandas Patel Hospital Vastrapur Ahmedabad. Pan : Abspb 3786 F (Applicant) (Responent) Assessee By : Shri Pritesh L. Shah, Ar : Shri Uday Kishanrao Kakne, Sr.Dr Revenue By सुनवाई क" तारीख/Date Of Hearing : 07/07/2025 घोषणा क" तारीख /Date Of Pronouncement: 15/07/2025 आदेश/O R D E R आदेश आदेश आदेश

For Appellant: Shri Pritesh L. Shah, AR
Section 143(3)Section 144Section 250Section 68Section 69ASection 80G

2. The learned CIT(A) erred in law and on facts in confirming the addition made by AO of Rs. 66,502/-in respect of Net Profit, such addition is requested to be deleted. 3. The learned CIT(A) erred in law and on facts in confirming the addition made by AO of Rs.3,24,382/- in respect of Unsecured

AURA SECURITIES PVT.LTD.,,AHMEDABAD vs. THE ACIT.,CIRCLE-1,, AHMEDABAD

In the result the appeal of the assessee is allowed

ITA 986/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2008-09

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

For Appellant: ShriFor Respondent: Shri Mudit Nagpal, S.R. D.R
Section 115JSection 14ASection 234BSection 234CSection 271(1)(c)

40a , the value so determined shall, for the purposes of section 48, be deemed to be the full value of consideration received or accruing as a result of such transfer. Explanation.—For the purposes of this section, "quoted share" means the share quoted on any recognised stock exchange with regularity from time to time, where the quotation

AURA SECURITIES PVT. LTD.,AHMEDABAD vs. DY. COMMISSIONER OF INCOME TAX,, AHMEDABAD

In the result the appeal of the assessee is allowed

ITA 3462/AHD/2014[2008-09]Status: DisposedITAT Ahmedabad28 Jun 2019AY 2008-09

Bench: Shri Mahavir Prasad & Shri Waseem Ahmedआयकर अपील सं./Ita No.834/Ahd/2012 "नधा"रण वष"/Asstt. Year: 2008-2009 Dcit, Aura Securities Pvt. Ltd. Circle-1, V Akhay Building, B/H, Vadilal Ahmedabad. S. House, 53, Shrimali Society, Navrangpura, Ahmedabad-380009 Pan: Aabct4637N आयकर अपील सं./Ita No.986/Ahd/2012 िनधा"रण वष"/Asstt. Year: 2008-2009 Aura Securities Pvt. Ltd. Acit, Akhay Building, B/H, Vadilal Vs. Circle-1, House, 53, Shrimali Society, Ahmedabad. Navrangpura, Ahmedabad-380009 Pan: Aabct4637N

For Appellant: ShriFor Respondent: Shri Mudit Nagpal, S.R. D.R
Section 115JSection 14ASection 234BSection 234CSection 271(1)(c)

40a , the value so determined shall, for the purposes of section 48, be deemed to be the full value of consideration received or accruing as a result of such transfer. Explanation.—For the purposes of this section, "quoted share" means the share quoted on any recognised stock exchange with regularity from time to time, where the quotation

M/S. NEPTUNE ASSOCIATES,,VADODARA vs. THE DCIT, CIRCLE-1(2),, VADODARA

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

ITA 2907/AHD/2017[2014-15]Status: DisposedITAT Ahmedabad20 Jan 2020AY 2014-15

Bench: Shri Pradip Kumar Kedia & Smt. Madhumita Royआयकर अपील सं./I.T.A. No. 2907/Ahd/2017 ("नधा"रण वष" / Assessment Year : 2014-15)

For Respondent: Shri Vidhyut Trivedi, CIT.D.R
Section 40A(2)Section 40A(2)(b)

40A(2) of the Act on the ground that addition on the same issue was made in AY 2013-14 as well which disallowance remained unagitated by the assessee before the CIT(A). ITA No.2907/Ahd/17 [M/s. Neptune Associates vs. DCIT] A.Y. 2014-15 - 4 - The AO accordingly restricted the claim of interest expenditure @ 12% per annum and accordingly disallowed Rs.52

AMARPADMA CREDITS PRIVATE LIMITED,JODHPUR vs. THE INCOME TAX OFFICER, WARD-1(1)(1), AHMEDABAD

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

ITA 1/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad22 May 2024AY 2017-18

Bench: MRS. ANNAPURNA GUPTA (Accountant Member), SHRI SIDDHARTHA NAUTIYAL (Judicial Member)

For Appellant: Shri Gautam Baid, CAFor Respondent: Shri Ankit Jain, Sr. DR
Section 133Section 250Section 40A(3)Section 68

68. The addition so sustained may kindly be deleted. 3. On the facts and in the circumstances of the case, Ld. CIT(A) erred in upholding the disallowance for Rs.25,000/- out of office expenses invoking provisions of section 40A(3). Disallowance so sustained may kindly be deleted.” 2

THE ACIT., PATAN CIRCLE,, PATAN vs. SHIV REFOILS AND CAKES, CHANSAMA, PATAN

In the result, the Revenue’s appeal is dismissed

ITA 1672/AHD/2019[2014-15]Status: DisposedITAT Ahmedabad15 Oct 2024AY 2014-15

Bench: Shri T.R. Senthil Kumar & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.1672/Ahd/2019 िनधा"रण वष" /Assessment Year : 2014-15 The Acit Shiv Refoils & Cakes बनाम/ Patan Circle, Plot No.2 Gidc Estate V/S. Patan – 384 265 Chanasma, Patan

For Appellant: Shri Manish J. Shah & Rushin Patel, ARsFor Respondent: Shri Prithviraj Meena, CIT-DR
Section 144Section 68

2, raised by Revenue, are relating to admission of additional evidence under Rule 46A. 4. Under Rule 46A of the Income Tax Rules, 1962, additional evidence can be admitted at the appellate stage if specific conditions are met, such as (a) the AO refusing to admit evidence that ought to have been admitted, (b) the appellant being prevented by sufficient

ADANI AGRO PVT. LTD.,,AHMEDABAD vs. THE DY.CIT.,CIRCLE-1,, AHMEDABAD

In the result, the assessee appeal is thus allowed

ITA 1809/AHD/2012[2009-10]Status: DisposedITAT Ahmedabad20 Sept 2019AY 2009-10

Bench: Shri O. P. Meena& Ms. Madhumita Roy

For Appellant: Shri S. N. Soparkar, Sr. Advocate with Parin ShahFor Respondent: 17.09.2019
Section 115JSection 143(3)Section 14ASection 234BSection 234C

40a , the value so determined shall, for the purposes of section 48, be deemed to be the full value of consideration received or accruing as a result of such transfer. Explanation.—For the purposes of this section, "quoted share" means the share quoted on any recognised stock exchange with regularity from time to time, where the quotation

INCOME TAX OFFICER, VEJAPUR vs. DARSHAN ORNA LIMITED, NAVRANGPURA

In the result, Revenue’s appeal is accordingly allowed for statistical purposes

ITA 1606/AHD/2024[2017-18]Status: DisposedITAT Ahmedabad23 Apr 2025AY 2017-18

Bench: Ms. Suchitra Kamble & Shri Makarand V. Mahadeokarआयकर अपील सं /Ita No.1606/Ahd/2024 िनधा"रण वष" /Assessment Year : 2017-18 Income Tax Officer Darshan Orna Limited बनाम/ Vejalpur 102, Shri Balaju Paragon V/S. Ahmedabad – 380 015 C.G. Road Navrangpura Ahmedabad – 380 009 "थायी लेखा सं./Pan: Aadcd 7142 E अपीलाथ%/ (Appellant) &' यथ%/ (Respondent) Assessee By : Shri Deepak Shah, Ar Revenue By : Shri B.P. Srivastava, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 21/04/2025 घोषणा की तारीख /Date Of Pronouncement: 23/04/2025 आदेश/O R D E R Per Makarand V. Mahadeokar, Am:

For Appellant: Shri Deepak Shah, ARFor Respondent: Shri B.P. Srivastava, Sr.DR
Section 143(2)Section 143(3)

40A(2)(b) of the Income Tax Act in its Form 3CD, the same transactions were not disclosed as related party transactions under the Companies Act, highlighting inconsistency and non- compliance with corporate law, irrespective of the fact that the Company was a listed entity. 2.1. On the basis of the cumulative discrepancies, including abnormal cash sales, unverifiable purchases, suppressed