S. 68 : Cash credits-Cash deposited-Agricultural income-Addition is not valid. [S. 148]
P. Prabhu v. ACIT (2022) 197 ITD 821 (Chennai)(Trib.)S. 68 : Cash credits-Cash deposited-Agricultural income-Addition is not valid. [S. 148]
P. Prabhu v. ACIT (2022) 197 ITD 821 (Chennai)(Trib.)S. 68 : Cash credits-Limited scrutiny-Large investment in property-Wrong mention of the PAN-Addition for purchases as cash credits cannot be made. [S. 143(3)]
ITO v. Bhavin Mukeshbhai Patel. (2022) 197 ITD 751 (Ahd.) (Trib.)S. 68 : Cash credits-Gift of jewellery from grandmother-Gift received in kind-No cash or cheque-Addition cannot be made as cash credits-Affidavit of grandmother was filed-No occasion for gift to be proved-Exempt from the provisions of section 56(2)(vii) of the Act. [S. 56 (2)(vii]
Jyoti R. Raut (Mrs.) v. DCIT (2022) 197 ITD 552 (Mum.)(Trib.)S. 68 : Cash credits-Cash deposit-Matter remanded to the Assessing Officer to decide fresh.
Vardhman Shipping (P.) Ltd. v. (2022) 197 ITD 250 / 98 ITR 3 (SN) (Ahd.)(Trib.)S. 56 : Income from other sources-Valuation of converted compulsory convertible preference shares (CCPS) into equity shares-Shares at premium-Matter remanded for readjudication. [S. 56(2)(viib), R. 11UA]
S.A. Metro Plots (P.) Ltd. v. ITO (2022) 197 ITD 816 (Chennai) (Trib.)S. 56 : Income from other sources-Valuation of shares-Book value of liability shown in balance sheet has to be reduced for purpose of valuation and determination of FMV of unquoted equity shares. [Rule, 11UA]
ITO v. Mystical Infaratech (P.) Ltd. (2022) 197 ITD 794 (Mum.) (Trib.)S. 56 : Income from other sources-Buying back of shares-Holding company-Capital redemption reserve-Addition cannot be made when the shares are brought back from holding company. [S. 56(2)(viia)]
VITP (P.) Ltd. v. DCIT (2022) 197 ITD 395 (Hyd.)(Trib.)S. 54F : Capital gains-Investment in a residential house-Construction of building-Structure not fit for residential house-Constructed to exploit for the purpose of Hostel-Not eligible for exemption. [S. 45]
Gundala Sarvottam Rao v. ITO (2022) 197 ITD 374 (Hyd.)(Trib.)S. 54F : Capital gains-Investment in a residential house-Owned two residential property-Denial of exemption is justified. [S. 45]
Atul Govindji Shroff v. DCIT (2022) 197 ITD 366 /(2023) 223 TTJ 512 (Ahd.)(Trib.)S. 54F : Capital gains-Investment in a residential house-Exemption claimed under wrong section-Surrender of tenancy rights-Claimed exemption under section 54 instead of section 54F-Entitled to claim exemption under section 54F without filing revised return. [S. 45, 54, 139]
ITO v. Armine Hamied Khan (Mrs) (2022) 197 ITD 110 /2023) 221 TTJ 653/ 222 DTR 233 (Mum.)(Trib.)