Chennai ITAT rules that costs for interior work and utility connections for a new home can be included in the LTCG exemption under Section 54 of the IT Act.
The ITAT Delhi has restored an ex-parte appeal from Bhaane Studio, condoning a 385-day delay because the CIT(A) sent notices to a former employee’s email address.
Delhi ITAT invalidates reassessment notices issued for AY 2015-16 after April 1, 2021. The ruling, based on Supreme Court and High Court precedents, confirms they are time-barred.
CIT(A) dismissed the appeals and upheld the assessments with the additions. It was held that search assessments were legally valid, JCIT had granted proper approval after due consideration, and the additions were based on incriminating material found during the search.
Delhi ITAT quashes an assessment order, ruling it void due to the absence of a valid jurisdictional order empowering the Additional CIT to act as an Assessing Officer.
The ITAT Delhi has deleted a ₹25,000 penalty under Section 271A, ruling that F&O turnover for a trader should be calculated based on ICAI’s guidance, not the Assessing Officer’s method.
Delhi ITAT rules that disallowance of expenses under Section 14A cannot exceed the actual exempt dividend income, providing relief to KEI Industries.
Madras High Court held that it cannot be decided that whether Virudhunagar District Central Cooperative Bank Limited is a Cooperative Bank or a Cooperative Society without the said institution is impleaded as party respondent. Hence, writ appeal dismissed.
Delhi ITAT quashed a ₹20 crore tax addition against Karan Motors, ruling the assessment void as the AO lacked a valid jurisdictional order.
Delhi ITAT deletes ₹3.54 lakh TDS demand on a property buyer, ruling that the lower TDS rate certified by tax authorities was correctly applied.
