ITAT Pune held that addition towards on-money receipts sustained based on seized document by invoking the statute presumption under section 292C of the Income Tax Act.
ITAT Pune held that omission of claiming long term capital loss at the time of filing of original return was not bona fide. Accordingly, rejection of claim of the same in revised return unsustainable in the eyes of law.
ITAT Pune discussed the cost of acquisition of two plots allotted against compulsory acquisition of land. Matter remanded in absence of availability of figures of fair market value of two plots which is cost of acquisition in second transaction.
The ITAT ruling emphasizes the necessity of incorporating a Document Identification Number (DIN) in tax communication, as stipulated in the CBDT Circular 2019. Explore the detailed analysis and implications of the case.
The ITAT ruling in the case of ITO vs Hindustan Breweries clarifies that share capital credited via journal entries does not constitute ‘unexplained share capital’. The Tribunal upheld the deletion of addition u/s 68 of the Income Tax Act.
Detailed analysis of the recent ITAT ruling in the case of Lear Automotive India Private Limited Vs ACIT, where engineering and development costs were classified as revenue expenditure.
Delve into the detailed analysis of the Monika Chitrasen Patil Vs ITO case by ITAT Pune. Understand the context, the decision, and its implications on cash payments in property transactions.
ITAT Pune’s decision to delete the addition of Rs. 39.69 Crores for Manoj Madanlal Chhajed Vs ACIT, emphasizing the absence of concrete evidence beyond the assessee’s statement and unverified documents, showcases meticulous judicial scrutiny.
Held that the interest granted by the reference Court u/s. 28 of the Land Acquisition Act from the date of possession of land till the date of judgment of High Court is an accretion of the value of the land acquired, not chargeable to tax.
A comprehensive analysis of ITAT Pune’s landmark judgement in the Subhash Devidas Mind Vs PCIT case, wherein a revision order passed during the Covid-19 pandemic was quashed.
