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ITAT allows Section 54B Exemption: Partial Agricultural Use Sufficient

February 27, 2025 2499 Views 0 comment Print

ITAT Jodhpur ruled in favor of Arun Agarwal, allowing exemption under Section 54B for agricultural land sale, emphasizing that partial agricultural use is sufficient.

Section 54F Deduction Cannot Be Denied for Delay in Flat Handover if Compliances Are Met

February 27, 2025 5553 Views 0 comment Print

ITAT Delhi rules in favor of the assessee, allowing Section 54F deduction despite builder delays. Revenue’s appeal dismissed citing judicial precedents.

Addition of entire bank receipts without verification was unjustified: ITAT Raipur

February 27, 2025 1623 Views 0 comment Print

ITAT Raipur held that adding entire bank receipts without inquiries from parties is unjustified. Case remanded for further examination under natural justice principles.

ITAT Kolkata Sets Aside CIT(A) Order Over Advance Tax & Merit Non-Consideration

February 27, 2025 606 Views 0 comment Print

ITAT Kolkata remands Mohammad Amjad Ali Sahaji’s appeal on advance tax non-payment, directing fresh consideration by CIT(A) with an opportunity for hearing.

Supreme Court Grants NewsClick One Week Relief on Tax Demand

February 27, 2025 696 Views 0 comment Print

SC refuses to hear NewsClick’s plea under Article 32 but grants one week relief against coercive action in income tax case. Petitioners to move High Court.

ITAT Directs CIT(E) to Reconsider Section 12AB Registration, Allowing Defect Cure

February 27, 2025 1203 Views 0 comment Print

ITAT Jaipur remands Nidhivan Foundation’s 12AB registration case to CIT(E) for reconsideration, citing curable defects and need for fair hearing.

Protective Addition Unsustainable if Substantial Addition is Confirmed or Settled: ITAT Bangalore

February 27, 2025 582 Views 0 comment Print

ITAT Bangalore deletes AO’s protective addition in LM Wind Power case, citing settled MAP proceedings on IT fees and commission payments.

ITAT Delhi Dismisses Revenue Appeal as Tax Effect was Below Rs. 60 Lakh Limit 

February 27, 2025 1047 Views 0 comment Print

ITAT Delhi dismisses DCIT’s appeal against Naresh Kumar Garg due to low tax effect, citing CBDT’s Rs. 60 lakh threshold in Circular No. 9/2024.

Section 12A: Trusts Registered Before April 1, 2021, Exempt from Seeking Final Registration – ITAT Kolkata

February 27, 2025 8679 Views 0 comment Print

ITAT Kolkata rules that provisional registration under Section 12A is deemed regular. CIT (Exemptions) vs Indira Trust case clarifies procedural confusion.

Income Tax dues prior to resolution plan’s approval date are extinguished: ITAT Delhi

February 27, 2025 825 Views 0 comment Print

ITAT Delhi rules against Income Tax Department’s new claims post-resolution plan approval for GAIL Mangalore Petrochemicals Ltd., citing Supreme Court precedents.

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