ITAT Mumbai held that as ownership of property lies with the developer on the day of ‘agreement of sale’, sale consideration is taxable under capital gains in the hand of developer and not in the hands of assessee.
ITAT Mumbai held that determination of Annual Let Out Value (ALV) of unsold flats held as stock-in-trade is not sustainable in law. Accordingly, addition of ALV of unsold flats deleted.
Duxton Hills Builders vs ACIT – ITAT Delhi rules on short-term capital loss. Transaction on Bombay Stock Exchange with STT deemed genuine, not sham or bogus.
ITAT Delhi’s order in Julius Gerardus Van Wijck Vs DCIT case. Deletion of income addition from other sources due to duplicate entries in Form 26AS. Detailed analysis provided.
ITAT Delhi rules in favor of GSMA Limited. Administrative fees for IMEI database access not deemed royalty. Detailed analysis of the order and tax implications.
Understand case of Joshi Technologies International Inc Vs CIT regarding weighted deduction on donations under Section 35(1)(ii) of Income Tax Act. Learn why claim was deemed ineligible and implications.
ITAT Mumbai rejected the transfer pricing adjustment as margin which has been determined falls within the tolerance limit of +/- 5% as provided in proviso to Section 92CA of the Income Tax Act.
ITAT Kolkata held that it is unjustified to assess share capital and share premium as unexplained cash credit u/s. 68 merely for high share premium as identities and creditworthiness of the share applicant and genuineness of the transactions duly established.
ITAT Kolkata held that addition u/s. 68 as unexplained cash credit unjustified as assessee has filed all the evidences concerning transactions to establish the identity and creditworthiness of the lenders and to prove the genuineness of the transactions.
ITAT Mumbai held the goodwill arising on business reorganization i.e. amalgamation, slump sale, demerger etc. is a depreciable intangible asset under section 32 of the Income Tax Act.
