ITAT Ahmedabad allows the appeal in the case of Kshama Sanjay Tripathi, accepting family sources for property investment and dismissing unexplained expenditure.
NCLAT Delhi allows the appeal of Essar Oil & Gas, setting aside the NCLT Ahmedabad order admitting Section 9 application filed by Greeka Greens Solution.
ITAT Kolkata held that provisions of section 56(2)(x) of the Income Tax Act were inserted by Finance Act, 2017 and effective only from 01.04.2017. Thus, provisions of section 56(2)(x) is not applicable when flat is brought prior to 01.04.2017.
Assessee had appealed against the order dated 12.06.2024 and 18.06.2024 passed by Commissioner of Income Tax (Appeals) [CIT(A)] for the AY 2016-17, 2017-18 and 2018-19,challenging the denial of deduction under section 80P(2)(d) on certain interest incomes.
ITAT Mumbai dismisses the appeal of Pesticides Manufacturers and Formulators Association of India as the assessee applies for settlement under the VSV Scheme.
ITAT Delhi rules excise duty refund to Jindal Saw Ltd as capital receipt, not taxable. Cites earlier rulings and applies ‘purpose test’ from Ponni Sugars case.
ITAT Ahmedabad dismisses Canpac Trends’ appeal on share premium addition under Section 56(2)(viib). No submissions made by the appellant.
The ECB purpose was declared to the RBI for both imported and locally sourced capital goods. However, the claim was disallowed under Section 143(1) due to inconsistencies between the tax audit report and the return of income.
Allahabad HC quashes order denying stamp duty refund, citing Supreme Court precedent. Refund to be re-examined, avoiding technical rejections.
ITAT Delhi remands loan addition case to AO, citing lack of opportunity for review. Assessee’s loan creditworthiness to be re-examined.
