ITAT Surat condones delay in appeal against an increased capital gain demand under Sec. 143(1), ruling the delay was justified by the assessee’s pursuit of rectification remedy.
A summary of the Sachin Notified Area vs. PCIT tax case. The ITAT Surat remanded the issue for fresh adjudication, citing a prior ruling in the assessee’s favor.
The ITAT has fixed the fair market value of land at Rs. 60/sq.m. for capital gains calculation and directed the tax authorities to re-examine a taxpayer’s deduction claim under Section 54.
The ITAT Surat has set aside a CIT(E) order that rejected a trust’s registration. Citing a missed email as the reason for non-compliance, the court ordered a fresh hearing.
ITAT Surat sets aside an ex-parte order, mandating a fresh hearing for Anupam Syal on a ₹11 lakh tax addition. The ruling emphasizes natural justice and procedural fairness.
The ITAT Surat has overturned the CIT(E)’s rejection of Dharti Ekta Charitable Trust’s 80G approval, citing a lack of natural justice as the trust was denied an opportunity to respond to the show cause notice.
The Income Tax Appellate Tribunal (ITAT) Surat deleted a Rs. 2.52 crore tax addition on capital introduced by partners, citing judicial precedents that a firm cannot be taxed for partners’ investments.
ITAT Surat held that ex-parte order of CIT(A) set aside and restored back for fresh adjudication subject to payment of cost of Rs. 10,000 on account of non-cooperation/ non-compliance on the part of the assessee. Accordingly, appeal disposed of.
ITAT Surat held that addition of unexplained stock as unexplained investment u/s. 69 of the Income Tax Act upheld due to claim of closing stock was not supported by any verifiable evidences. Accordingly, ground of appellant dismissed.
ITAT Surat dismisses Shree Infra’s appeal, affirming PCIT’s directive for fresh assessment on deemed rental income from unsold stock-in-trade flats under Section 23(5) for A.Y. 2018-19.
