ITAT Delhi held that multiple residential units on same floor is construed as single residential house for purpose of exemption under section 54 of the Income Tax Act. Accordingly, exemption u/s. 54 allowed and addition deleted.
ITAT Kolkata upholds Rs.17.10 crore penny stock addition against Narayan Suppliers Pvt Ltd, flags money laundering, and directs case referral to ED and CBI for further probe.
ITAT Chennai invalidated reassessment in Pawan Cargo Forwards’ case due to notice issued by JAO, not FAO, violating the CBDT’s 2022 faceless scheme. Penny stock addition deleted.
The Income Tax Appellate Tribunal (ITAT) Chandigarh has reversed a tax addition of Rs. 6.75 lakhs on gifts received by an assessee ruling that the gifts from his sister and father-in-law were valid.
The Income Tax Appellate Tribunal (ITAT) in Jodhpur has sent a tax dispute involving Narain Dal And Oil Mills back to the lower tax authority for a re-examination of an unpaid IGST claim of Rs. 37.92 lakh.
The Income Tax Appellate Tribunal (ITAT) Hyderabad has set aside a tax authority rejection of a charitable trust application for permanent registration citing a violation of natural justice principles.
The ITAT Mumbai ruled in favor of Vikram Khandelwal, deleting additions on interest expenses and capital gains after finding that share transactions were genuine and backed by stock exchange records.
The ITAT Ahmedabad ruled that a tax assessment notice issued to a company struck off the register years prior is null and void, invalidating the entire assessment.
The ITAT in Amritsar deleted a penalty on RPK Bricks after the department confirmed no pending supplies against a pre-registration advance payment.
The ITAT Delhi quashes a tax assessment against Dazzle Developers P. Ltd., ruling that an assessment on a dissolved company is legally invalid.
