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3 results for “capital gains”+ Section 194A(3)(i)clear

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Key Topics

Section 14A8Section 404Section 44A4Section 143(3)3Section 194A3Addition to Income3Section 143(2)2Deduction2TDS2

DY. COMMISSIONER OF INCOME TAX , CENTRAL CIR. -4, SURAT vs. SHRI HITESHKUMAR LALJIBHAI PATEL, SURAT

In the result, the ground of appeal raised by revenue is dismissed

ITA 295/SRT/2023[2018-19]Status: DisposedITAT Surat04 Sept 2023AY 2018-19

Bench: Shri Pawan Singh & Dr Arjun Lal Sainiआ.अ.सं./Ita No.295/Srt/2023 (Ay 2018-19) (Hearing In Virtual Court) Deputy Commissioner Of Income- Shri Hiteshkumar Laljibhai Tax, Central Circle-4, Surat, Room Patel, 52, Narayanmuni Nagar Vs No.508, 5Th Floor, Aayakar Society, Nani Ved Road, Surat- Bhawan, Majura Gate, Surat- 395004 Pan Aanpp 3560 B 395001 अपीलाथ"/Appellant ""थ" /Respondent

Section 143(3)Section 194ASection 198Section 254(1)

section 194A in the name of assessee, as the property was in the name of assessee in the capacity of a partner (assessee). The TDS was 2 Sh. Hiteshkumar L Patel reflected in Form 26AS of assessee. The credit of TDS was not claimed by partnership firm Paramhansh & Co. On findings of such discrepancy, the Assessing Officer issued show cause

SHRI BIPINCHANDRA HIRALAL THAKKAR,,SURAT vs. THE INCOME TAX OFFICER, WARD-1(2)(6),, SURAT

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

ITA 2126/AHD/2016[2013-14]Status: DisposedITAT Surat16 Oct 2020AY 2013-14

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकरअपीलसं./Ita No.2126/Ahd/2016 ("नधा"रणवष" / Ay.: (2013-14) Shri Bipinchandra Hiralal Thakkar, Vs. Income Tax Officer, Plot No.60/61, Hari Ichha Society, Ward-1(2)6, Surat. Udhna Bhestan Road, Surat-394210. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aawpt1432D (Assessee) (Respondent)

For Appellant: Shri Rasesh Shah- CAFor Respondent: Miss Anupama Singla – Sr. DR
Section 143(3)Section 194ASection 40Section 44A

gains of business on presumptive basis’ and declared the profit more than @ 8% as per the provisions of law therefore other additions made by the assessing officer to the tune of Rs.11,59,064/- (Interest expense amounting to Rs.10,12,346 + Job work expenses of Rs.1,46,718/- u/s.40(a)(ia) of the Act ) should be deleted. 3. The appeal

KIRTIKUMAR NAGINDAS SHAH,SURAT vs. INCOME TAX OFFICER, WARD 2(3)(6), SURAT

In the result, ground No.2 raised by the assessee is allowed

ITA 535/SRT/2023[2014-15]Status: DisposedITAT Surat12 Oct 2023AY 2014-15

Bench: Shri Dr. A. L. Sainiआयकर अपील सं./Ita No.535/Srt/2023 Assessment Year: (2014-15) (Physical Hearing) Kiritkumar Nagindas Shah, Vs. The Ito, A-1103, Regent Residency, Near Ward – 2(3)(6), Saurabh Society, Pal, Surat Surat – 395009, Gujarat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Anjps9031P (Appellant) (Respondent)

Section 143(1)Section 143(2)Section 143(3)Section 145Section 14ASection 40

capital gain on sale of mutual funds which it claimed as exempt under section 10(34) and 10(38) respectively - Assessing Officer having invoked section 14A disallowed interest expenses incurred for earning exempt income - It was noted that assessee had furnished details that its own funds were sufficient to cover investments yielding exempt income - Borrowings of assessee were utilised