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Documents citing Gujtron Electronics Pvt. Ltd., ... vs The Income Tax Officer, Ward-2(1)(1),, ... on 10 January, 2017

The Ito, Ward-2(1)(1),, Ahmedabad vs M/S. Greencity Heritage Pvt. Ltd.,, ... on 26 April, 2023

4.1 The Ld. CIT(A) has failed to appreciate that since no confirmations could be filed from these 2 parties, there was a clear case of cessation of liability in term of section 41(1) or income in term of section 28 of the Act as there was absolutely no movement or correspondence between the assessee and these creditor with respect to these amounts. Reference in this regard is made to the decision of the H'ble Gujarat High court in the case of Gujtron Electronics (p) Ltd. vs. ITO (83 Taxmann.com 389) wherein it was held that appropriation of such amount to the profit and loss account was not essential for the taxability.
Income Tax Appellate Tribunal - Ahmedabad Cites 11 - Cited by 0 - Full Document

Lakhi Electronics Pvt. Ltd., Ahmedabad vs Ito, Ward-2(1)(3), Ahmedabad on 18 November, 2021

Since the Assessing Officer has not communicated the intimation u/s. 143(1) to the assessee as elaborated supra, therefore, in the light of the finding of the Hon'ble High Court as supra, we direct to consider the case of the assessee on merit after examination of the claim of the I.T.A No. 1789/Ahd/2018 A.Y. 2006-07 Page No 6 Lakhi Electronics Pvt. Ltd. vs. ITO assessee. In the result, this ground of appeal of the assessee is allowed for statistical purposes.
Income Tax Appellate Tribunal - Ahmedabad Cites 8 - Cited by 0 - Full Document
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