Category: ITAT
Stock surrendered during survey held business income not cash credits or unexplained money u/s 69 or 69A. Question of application of section 115BBE doesn’t arise for consideration – ITAT In a recent judgment, the ITAT has held that stock surrendered during survey was business income not cash credits …
Deduction u/s 54F allowable despite postdated cheque not cleared or details thereof not mentioned in agreement – ITAT In a latest judgment, ITAT has allowed Capital Gain Exemption / deduction u/s 54F despite postdated cheque not cleared within the due date for filing of return or details of …
ITAT deleted addition towards unexplained money u/s 69A made on the basis of whatsapp chat retrieved from mobile during search operation ABCAUS Case Law Citation:ABCAUS 3834 (2024) (01) ITAT Important Case Laws relied upon by parties:Ashwini Kumar v. ITO (1991) 39 ITD 183Mr. A. Johnkumar vs. DCITAtul Tantia …
Capital gain exemption u/s 54 allowed for investment made in the name of spouse. Purposive construction is to be preferred as against the literal construction In a recent judgment, the ITAT following the guidance provided by various High Courts and Coordinate Benches, allowed capital gain exemption u/s 54 …
Diamond jewellery is always studded with gold and loose diamonds were found during search operation, ITAT deleted addition u/s 69A ABCAUS Case Law Citation:ABCAUS 3832 (2024) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the order of the …
No addition can be made on the basis of dumb papers seized in search without establishing any relation with the assessee – ITAT ABCAUS Case Law Citation:ABCAUS 3828 (2023) (12) ITAT Important Case Laws relied upon by parties:Clarity Gold Pvt. Ltd. v/s PICTGEM Mart India Pvt. Ltd. 306 …
When confirmation and affidavit admitting payments to assesse were filed then without examining persons giving affidavit and confirmation, the claim of the assessee cannot be brushed aside – ITAT In a recent judgment, ITAT has deleted addition made for cash deposit in bank account holding that when confirmation …
Income Tax Faceless Appeal Scheme 2020 – Commissioner (Appeals) is mandatorily required to allow request for personal hearing – ITAT ABCAUS Case Law Citation:ABCAUS 3826 (2023) (12) ITAT Important Case Laws relied upon by parties:Vijay v. State of Maharashtra & Ors. (2006) 6 SCC 28Bank of India Vs. …
Exemption u/s 54F – Bar of holding more than one residential property applies on start of day or at the end of the day of transfer of capital asset, ITAT answers ABCAUS Case Law Citation:ABCAUS 3821 (2023) (11) ITAT Important Case Laws relied upon by parties:Smt. Maya A …
Under section 271AAB undisclosed income also means additional income due to bogus expense recorded in the books of accounts – ITAT ABCAUS Case Law Citation:ABCAUS 3820 (2023) (11) ITAT Important Case Laws relied upon by parties:ACIT vs. Sri Mahender Kumar AgarwalCIT vs. Harjeev Aggarwal, 70 taxmann.com 95 Radhey …
