ITAT Delhi nullifies reassessment and LTCG addition, emphasizing mandatory disposal of taxpayer objections and absence of concrete evidence in ‘penny stock’ allegations.
ITAT Chandigarh directs CIT to grant 12AA registration to Paramount Education Charitable Trust, overturning rejection based on Societies Act registration.
ITAT Mumbai clarifies tax treatment of goodwill from amalgamation, project expenses, future provisions, and Section 14A disallowances for Dosti Realty Ltd.
Mumbai ITAT allows Vanguard Total International Stock Index Fund to set off STT-paid losses against non-STT gains, citing Calcutta High Court precedent and no hierarchy in Section 70.
Mumbai ITAT allows Emerging Markets Index Fund to set off short-term capital losses against gains with differential tax rates, citing Section 70(2) and judicial precedents.
ITAT Mumbai rules on iShares MSCI EM UCITS ETF’s appeal, allowing set-off of short-term capital losses against gains regardless of differing tax rates or STT payment.
ITAT Amritsar removes Rs. 4.72 lakh income addition for senior citizen, citing accumulated cash for emergencies. Overturns CIT(A) decision on bank deposit.
Bangalore ITAT confirms Adarsh Developers’ right to claim ₹468 crore as business loss for advances to subsidiary, citing business expediency and prior precedents.
ITAT Delhi held that registered deed of new property not mandatory for claiming exemption under section 54F of the Income Tax Act. Investment in property and possession thereof sufficient for claiming exemption.
Mumbai ITAT ruled the CIT(E)’s revisionary order against Indian Education Society was time-barred, clarifying Section 263’s scope regarding original vs. reassessment issues.
