ITAT Kolkata rules in favor of Raj Kumar Kabra’s LTCG claim, stressing the need for specific evidence over general suspicion in tax assessments.
ITAT Kolkata permits Pawan Kumar Kabra’s LTCG claim, emphasizing the need for specific evidence over general suspicion in assessment.
ITAT Kolkata deleted an addition related to bogus long-term capital gain, finding the assessee’s share transactions to be genuine and supported by sufficient evidence.
ITAT Ahmedabad held that donation to, Shri Arvindo Institute of applied scientific research, which is not recognised research institute is not eligible for deduction under section 35(1)(ii) of the Income Tax Act. Accordingly, deduction disallowed and appeal dismissed.
ITAT Delhi overturns LTCG addition for Rajeev Agarwal & Sons due to denial of cross-examination on key statements. Genuine transactions noted.
: ITAT Delhi quashes LTCG addition for Veena Gupta, citing violation of natural justice due to denial of cross-examination of key witnesses.
ITAT Delhi rules for Shoubit Goel (HUF), allowing LTCG u/s 10(38) on Unno Industries shares. Lack of specific evidence against assessee overrides AO’s doubts.
It also referred to similar findings in Matrix Partners India Investment Holdings, LLC vs DCIT and other precedents, reinforcing that exempt income did not form part of the computation of total income under Indian law.
Madras HC discharges auditor Murali Krishna Chakrala in money laundering case linked to bogus imports, citing lack of direct involvement and cooperation with ED.
ITAT Bangalore cancels ₹2.20 lakh penalty on Rajiv Duseja for cash loans from family. Cites precedents on genuine transactions & reasonable cause.
