ITAT Chandigarh held that execution of Joint Development Agreement [JDA] doesn’t constitute transfer of capital asset which would result in earning of capital gain. Accordingly, addition is deleted and appeal is allowed.
The ITAT Chandigarh dismissed the appeal of Svetlana Gorodinskaia, ruling that unexplained cash of ₹4,07,000/- found during a survey operation must be taxed as “unexplained money” under Section 69A and subjected to the higher tax rates of Section 115BBE
Tribunal noted that the assessee received Form 3 under the Direct Tax Vivad Se Vishwas Act, 2020, and accordingly dismissed the pending appeal as withdrawn.
ITAT Chandigarh condones a 364-day delay citing post-Covid health issues and relying on SC precedents (Katiji, N. Balakrishnan). The Tribunal upholds the reassessment but deletes the Rs.20.45 lakh addition on a cash deposit, finding the source (brother’s loan for DDs) genuine. The Rs.10.72 lakh salary addition is remanded
ITAT Chandigarh accepted sale deeds and bank records showing genuine funding from the father’s property sales, rejecting AO’s unexplained investment addition.
ITAT Chandigarh has set aside the CIT(E)’s order cancelling the registration of Aryans Educational & Charitable Trust, holding that issues previously settled by the Tribunal cannot be re-opened for cancellation.
ITAT Chandigarh deletes ₹1.64 Cr tax addition, ruling interest under Section 28 of the Land Acquisition Act is part of compensation, exempt under Section 10(37) for agricultural land.
ITAT Chandigarh held that additional evidences filed by the assessee deserves to be admitted inspite of casual and callous approach of assessee since the ultimate object of adjudication is to do substantial justice. However, cost of Rs. 3,000/- imposed.
The ITAT Chandigarh deleted a ₹25.25 lakh cash deposit addition to an illiterate agriculturist’s income, accepting bank records as evidence of redeposited funds.
The ITAT has directed the tax department to refund ₹37.88 lakh to a non-resident for an incorrect TDS credit, dismissing the tax authority’s reasoning as vague.
