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S. Sagar Enterprise v. DCIT (ITAT Mumbai)
ITAT Mumbai: Failure to supply the material on the basis of which addition is made and failure to provide opportunity of cross examination despite the same being sought by the assessee, is violative of principles of natural justice. Additions made were thus liable to be deleted. Read More ...
Titiksha Chhajed Vs. ITO (ITAT Raipur)
ITAT Raipur: Rebate u/s 87A allowed against tax on short-term capital gain for AY 2024-25. Read More ...
ITO v. Ratna Aggarwal (ITAT Delhi)
Delhi Tribunal : S. 56 : Income from other sources-Immovable property received without consideration-Family settlement-Gift deed executed pursuant to family arrangement-Property received from member of HUF-Not taxable as deemed income-Revenue’s appeal dismissed. [S. 2(47), 56(2)(vii)(b)] The assessee, an individual, had originally filed return declaring income of Rs. 3,40,540/-. The assessment was reopened u/s 147 on the ground that… Read More ...
Shri Ganesh Builders Ltd. v. DCIT (ITAT Nagpur)
NAGPUR TRIBUNAL : S. 40A(3) : Expenses or payments not deductible-Cash payments exceeding prescribed limits -Cash payment exceeding prescribed limit -Purchase of land-Amount not claimed as expenditure-No disallowance permissible-Addition deleted-Stamp duty value difference is less than 10%-Amendment made in section 50C(1) of the Act by inserting third proviso by Finance Act, 2018, with effect from April 01, 2018… Read More ...
AMISH HARESH KUMAR PARIKH VS ASST.COMMISSIONER OF INCOME TAX (ITAT Mumbai)
Mumbai ITAT: PENALTY UNDER SECTION 272A(1)(d) is deleted Read More ...
Sterling Court F wing CO-OP Hsg socy limited vs ITO (ITAT Mumbai)
Mumbai ITAT: THE DEDUCTION UNDER SECTION 80P IS ALLOWED ON BELATED RETURN FILED BY THE ASSESSEES Read More ...
Dy. CIT v. Ashray Investments (ITAT Mumbai)
Mumbai Tribunal : S. 288 : Appearance by authorised representative-Duties-Appellate Tribunal-Adjournment sought by Departmental Representative- Statement of loss of trust in the Bench-Conduct held wholly unacceptable-Revenue representative duty bound to assist Tribunal- Matter adjourned with direction for proper representation. [S. 254(1)] During hearing of a batch of connected appeals involving a common issue, time had earlier been granted… Read More ...
Pravinkumar Jethalal Dave v. State of Maharashtra & Ors. (Bombay High Court)
Bombay High Court: Maharashtra Cooperative Societies Act, 1960 . S. 23(2) : Open membership-Nominee-Succession dispute-Scope of revisional jurisdiction-Nomination does not confer ownership- Majority legal heirs supporting claim-Tenant has no locus to challenge internal arrangement among heirs-Revisional authority exceeded jurisdiction in interfering with grant of membership. [Art. 226] The petitioner, son of a deceased member of a co-operative housing… Read More ...
Arvindbhai Khatri Sons Designs Pvt. Ltd. v. ACIT (ITAT Mumbai)
Mumbai Tribunal : S. 151 : Reassessment-Sanction for issue of notice-Sanction of specified authority-Notice issued beyond three years from end of relevant assessment year-Approval obtained from Pr. CIT instead of Pr. CCIT/CCIT-Invalid assumption of jurisdiction-Reassessment quashed. [S. 144, 147, 148, 148A(d), 151(ii)] The assessee challenged the reopening for A.Y. 2017-18 on the ground that the notice u/s 148… Read More ...
Seeta Nayyar v. ACIT (ITAT Mumbai)
Mumbai Tribunal : S. 54 : Capital gains-Profit on sale of property used for residence-Development agreement-Indexed cost of acquisition-Assessee entitled to indexation on entire property and not restricted to 22.5% land share – Multiple floors in same redeveloped building constitute one residential house – Deduction u/s 54 allowable. [S. 2(47), 45, 48] The assessee, a resident individual, entered… Read More ...