ITAT Chandigarh directs CIT(A) to review SJVN Limited’s appeal on MAT credit and book profit under Section 115JB. Read the key highlights of the ruling.
ITAT Chandigarh held that treating capital gains earned on sale of shares as bogus merely on the basis of warning letter of SEBI without any incriminating material found during course of search demonstrating transaction as bogus is unjustified.
ITAT Chandigarh rules against penalty on estimated income in AKM Resorts vs ACIT, reinforcing that additions based on estimation don’t imply income concealment.
ITAT Chandigarh sets aside ex-parte order against Karam Chand Sweets, remanding the case to CIT(A) for fresh hearing on merits. Assessee given one last chance.
ITAT deletes the Rs.6 lakh addition made for unexplained cash found during a search, considering family savings and past declarations.
ITAT Chandigarh remands the appeal regarding the rejection of registration u/s 80G to CIT for fresh consideration along with pending 12A registration.
ITAT Chandigarh allows full deduction under Section 54F for Sher Singh’s construction on land owned by his mother, setting aside the A.O.’s capital gain addition.
ITAT Chandigarh condones a 228-day delay in Joginder Singh’s appeal and remands the unexplained cash credit case for reassessment by the Assessing Officer.
ITAT Chandigarh dismisses an appeal after the assessee opts for the Direct Tax Vivad Se Vishwas (DTVSV) Scheme 2024, with conditions for revival if needed.
Assessee was entitled for exemption under section 10(10B) for Voluntary Retirement Scheme (VRS) compensation on whole of the amount received citing that the Central-Government approved schemes that benefited Employees.
