Category: ITAT
CIT(A) incorrect in not adjudicating the ground raised merely because AR agreed not to press it In a recent judgment, the ITAT has held that CIT(A) was incorrect in not adjudicating the ground raised in appeal merely because AR agreed not to press it ABCAUS Case Law Citation:ABCAUS …
Residential Flats held as stock in trade-Municipal rateable value to be adopted for determining income from house property In a recent judgment, ITAT has held that in respect of residential Flats held as stock in trade, the municipal rateable value to be adopted for determining income under the …
TDS u/s 194Q not related to sale-ITAT remands case of mismatch of turnover In a recent judgment, the ITAT has observed that TDS u/s 194Q is not related to sale while remanding the CPC order u/s 143(1) which restricted TDS credit due to mismatch of turnover as per …
Assessee claimed a third party fraudulently filed his return – ITAT remands case to prove it In a recent judgment, the ITAT has remanded the case to provide an opportunity to the assessee to establish that third party fraudulently filed his return of income using his PAN. ABCAUS …
ITAT allows commission expenses in connection with sale of property despite no written agreement ITAT allows commission expenses as deduction from capital gain in connection with transfer of property despite no written agreement In a recent judgment, the ITAT has allowed commission expenses in connection with transfer of …
The AO not authorized to stretch the published census population to an imaginary figure – ITAT In a recent judgment, the Hon’ble ITAT has deleted addition made by AO treating the agricultural land as Capital Asset held that AO is not authorized to stretch published census population to …
Disallowance u/s 40(A)(2)(b) – Onus is on Assessing Officer to made comparable study In a recent judgment, ITAT has deleted disallowance u/s 40(A)(2)(b) towards payments to related parties and held that onus is on Assessing Officer to made comparable study to show unreasonableness ABCAUS Case Law Citation:ABCAUS 3937 …
When no cash involved in transaction, Section 68 treating it unexplained cash credit not attracted When there was no cash involved in the transaction of allotment of shares, the provisions of Section 68 of the Act treating it as unexplained cash credit are not attracted – ITAT In …
Provisions of section 69 not applicable on the profit from trading of speculative Transactions In a recent judgment, ITAT has held that provisions of section 69 of the Income Tax Act, 1961 (the Act) not applicable on the profit from trading of speculative Transactions, hence higher rate of …
Capital gain exemption u/s 54F denied as new house was in the name of husband In a recent judgment, ITAT has held that capital gain exemption u/s 54F was not allowable as the new house was in the sole name of husband and was purchased out of bank …