https://www.taxtmi.com/caselaws?id=762920 ITAT Ahmedabad allowed the assessee's appeal regarding concessional tax rate eligibility under Finance Act, 2017. The assessee's FY 2015-16 turnover was Rs. 51.18 crores including inter-branch transfers of Rs. 1.41 crores. ITAT held that inter-branch transfers should be excluded from turnover calculation, reducing it to Rs. 49.77 crores, below the Rs. 50 crore threshold. Consequently, the assessee qualified for 25% concessional tax rate instead of 30%. ITAT set aside AO and CIT(A) orders, directing recalculation of tax liability with proper exclusion of inter-branch transfers. en-us Fri, 06 Dec 2024 00:00:00 +0530 Tue, 10 Dec 2024 08:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762920 ITAT Ahmedabad allowed the assessee's appeal regarding concessional tax rate eligibility under Finance Act, 2017. The assessee's FY 2015-16 turnover was Rs. 51.18 crores including inter-branch transfers of Rs. 1.41 crores. ITAT held that inter-branch transfers should be excluded from turnover calculation, reducing it to Rs. 49.77 crores, below the Rs. 50 crore threshold. Consequently, the assessee qualified for 25% concessional tax rate instead of 30%. ITAT set aside AO and CIT(A) orders, directing recalculation of tax liability with proper exclusion of inter-branch transfers. Case-Laws Income Tax Fri, 06 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762920