ITAT Mumbai quashed PCIT’s revision order u/s 263, finding the AO had already inquired into the LTCG exemption claim based on provided evidence.
Supreme Court rules against denial of cross-examination in excise duty case (Andaman Timber vs Commissioner), citing natural justice violation.
ITAT Mumbai allowed Farrah Marker’s appeal, deleting the Section 68 addition on share sale, questioning the AO’s reliance on presumptions about penny stocks.
Mumbai ITAT dismisses tax additions on share sale gains and purchase cost, citing assessee’s documentation and accepted source in prior assessment.
Kolkata ITAT rules documented share transactions through BSE and registered broker cannot be taxed as bogus based on suspicion; upholds assessee’s evidence.
Kolkata ITAT dismisses revenue’s appeal, upholds CITA order favoring Shaleen Khemani on gifted share sale proceeds, citing lack of evidence.
Kolkata ITAT rules in favor of Gautam Kumar Pincha, setting aside addition of share sale proceeds as undisclosed income due to lack of evidence.
ITAT Kolkata rules on Gaurav Pincha’s LTCG claim, deleting additions made under Section 10(38), citing lack of specific evidence and generalised suspicion.
Karnataka High Court held that statutory upper limit of maximum stamp duty INR 25 crores under the Karnataka Stamp (Second Amendment) Act, 2022 is not applicable to the additional duty levied under section 3B the Karnataka Stamp Act, 1957.
NCLAT Delhi held that application under section 9 of the Insolvency and Bankruptcy Code [IBC] is not maintainable due to pre-existing dispute between the parties. Accordingly, the appeal is dismissed.
