ITAT : Ahmedabad ITAT Limits Addition Under Section 69A to 8% Profit Element on Undisclosed Bank Credits Where Withdrawals Substantiate Business Activity
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ITAT : Mumbai ITAT Confirms Immediate Deductibility of NCD Discount as Revenue Expenditure, Rejects Revenue’s Amortisation Demand
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ITAT : ITAT Mumbai Quashes Bogus Purchase Addition Due to Lack of Concrete Evidence Against Assessee
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HC : Gujarat High Court Holds Reassessment Notice for AY 2015-16 under Section 148 Time-Barred: Distinct Interpretation of ‘Ten-Year Block’ Period Affirmed
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ITAT : ITAT Bangalore Rules Filing of Revised Return After Timely Original Filing Does Not Bar Carry Forward of Losses: Relief Granted for Set-off of Rs 2.99 Lakhs
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ITAT : Delhi ITAT Affirms HUF Status for Bengali Assessee; Rejects Revenue’s Dayabhaga Argument and Deletes Addition of Rs. 27.40 Lakh
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ITAT : Delhi ITAT Strikes Down Tax on Capital Reduction, Distinguishes Capital Reduction from Buy-Back for Section 115QA Purposes
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ITAT : Chennai ITAT Rules TDR/DRC Transfers Not Taxable as Capital Gains for AY 2016-17 Due to Absence of Statutory Cost Mechanism
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ITAT : ITAT Mumbai Quashes Penalty Under Section 270A: Repeated Error in Revised Return Not Sufficient to Establish Misreporting Where Full Disclosure Made
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ITAT : Bangalore ITAT Directs AO to Apply Reverse Indexation for Determining Cost of Acquisition in Absence of Historical Records; Restoration Ordered for Fresh Verification
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ITAT : Ahmedabad ITAT Directs Proportionate Addition Based on Actual Contribution; Rejects Equal Split Among Co-owners Absent Revenue Evidence
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ITAT : ITAT Chennai Confirms Retrospective Application of Proviso to Section 50C; Stamp Duty Value to Be Determined on Date of Unregistered Agreement to Sell Where Consideration Received via Banking Channels
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ITAT : Bangalore ITAT Prolongs Stay on Xiaomi’s ₹10,833.22 Cr Tax Demand Citing Departmental Delays and Pending DIN Issue
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ITAT : Bangalore ITAT Rules Multiple Residential Houses Eligible for Section 54 Exemption if Capital Gains Arise from Multiple Transfers
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ITAT : Delhi ITAT Rules Derivative Losses as Business Losses, Not Speculative, under Explanation to Section 73(4); Major Disallowance Deleted, Only Share Trading Losses Treated as Speculative
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ITAT : Chennai ITAT Rules Discount on Assignment of Rent Receivables Not 'Interest'; No TDS Liability on Discounted Consideration under Section 194A
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ITAT : ITAT Ahmedabad Affirms Exclusion of Debenture Redemption Reserve from Book Profits under Section 115JB Despite Non-Claim in ITR; Upholds Substantive Legality Over Procedural Lapse
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PBPTAT - SAFEMA Tribunal Upholds Attachment of Assessees’ Bank Accounts Under Benami Law, Citing Fictitious Transactions with Non-Existent Supplier
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ITAT : Stamp Duty on Lease Registration for Non-Ownership Rights is Revenue Expenditure, Not Capital Asset
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ITAT : Excess Cash and Stock Found During Survey in Jewellery Business Taxable as Business Income, Not as Unexplained Investment: Bangalore ITAT Clarifies Scope of Sections 69 and 69A
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