S. 68 : Cash credits-NRI-Gift from brother-Addition was deleted.
Atul H. Patel v. ITO (2022) 195 ITD 297 (Ahd.)(Trib.)S. 68 : Cash credits-NRI-Gift from brother-Addition was deleted.
Atul H. Patel v. ITO (2022) 195 ITD 297 (Ahd.)(Trib.)S. 68 : Cash credits-Share application money-Bank statements, audited balance sheet, financial statements, copies of ITR etc.-Addition is not valid.
DCIT v. Karmeshwar Exim (P.) Ltd. (2022) 195 ITD 211 (Surat) (Trib.)S. 56 : Income from other sources-Bonus shares-Provisions of section 56(2)(vii)(c) are not applicable to bonus shares. [S. 56(2)(vii)(c)]
DCIT v. Bhanu Chopra (2022) 195 ITD 767 (Delhi)(Trib.)S. 56 : Income from other sources-Interest on Enhanced Compensation-Interest received on compensation or on enhanced compensation is taxable under section 56(2)(viii) read with section 145A(b) applicable with effect from 1-4-2010. [S. 56(2)(viii), 145A]
Madhav Pandharinath Kande v. ITO (2022) 195 ITD 579 (Pune) (Trib.)S. 56 : Income from other sources-Sale of shares at a premium-Addition made on account of the difference between FMV and actual consideration received by the assessee in terms of section 56(2)(viib) was justified. [S. 56(2)(viib), R.11UA]
Royal Accord Realtors (P.) Ltd. v. DCIT (2022) 195 ITD 287 / 220 TTJ 892/ 220 DTR 150 (Mum.)(Trib.)/Rokdale Realtors ( P ) Ltd v .Dy.CIT ( 2022) 195 ITD 287 220 TTJ 892 / 220 DTR 150 ( SMC) ( Mum)( Trib)S. 56 : Income from other sources-Non-resident-Valuation of shares-Shares issued higher amount than to resident shareholders-Addition was not justified. [S. 56(2)(viib), Rule 11UA]
DCIT v. Mais India Medical Devices (P.) Ltd. (2022) 195 ITD 94 (Delhi)(Trib.)S. 54 : Capital gains-Profit on sale of property used for residence-Short term-Long term-Land-House constructed was sold in the same year of construction-Assessable as short term-Exemption is available only to long term capital gains-Consideration towards land to be assessed as long term capital gains-Cost of boundary walls-Deduction-Evidence was not produced-Deduction was denied. [S. 2(29A), 2(29B), 2(42A), 2(42B), 45, 48]
Seema Shah (Smt.) v. ITO (2022) 195 ITD 733 / 99 ITR 595 (Varanasi)(Trib.)S. 54 : Capital gains-Profit on sale of property used for residence-Two residential house properties-Entitle for exemption-Amendment is from assessment year 2015-16. [S. 45]
Nigam Narendrabhai Khansaheb v. DCIT (2022) 195 ITD 661 (Surat)(Trib.)S. 54 : Capital gains-Profit on sale of property used for residence-Joint development agreement-Co-owner-Entitle to the exemption to extent assessee’s share of 42.5 per cent as specified under JDA on the cost of one flat only. [S. 45]
Dr. E.S. Krishnamoorthy. v. ITO (2022) 195 ITD 165 (Chennai) (Trib.)S. 49 : Capital gains-Previous owner-Cost of acquisition-Settlement deed-inherited property from grandfather-Entitled to benefit of indexation from date of his grandfather’s acquisition of said property. [S. 45, 49(1)(iii)(a)]
Dr. E.S. Krishnamoorthy v. ITO (2022) 195 ITD 165 (Chennai) (Trib.)