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ITAT Can Allow 10% LTCG Rate on Unlisted Shares Despite No Revised Return if Facts Are on Record: Gujarat HC [Read Order]

Kavi Priya

In a recent ruling, the Gujarat High Court held that the Income Tax Appellate Tribunal (ITAT) can allow a 10% tax rate on long-term capital gains ...

ITAT Grants Relief to NGO: Technical Filing Error Won't Block 80G Tax Benefits [Read Order]

ITAT Upholds Deletion of Bogus LTCG Addition, Rules No Evidence of Tax Evasion in Share Transactions...

ITAT Quashes Penalties Citing Revised Audit Report, Rules No Intentional Misreporting by Cooperative...

ITAT Dismisses Revenue’s Appeal, Upholds Deletion of ₹5.2 Crore Addition Under Section 41(1) Due to...

ITAT Grants School Principal Fresh Hearing in 3.65 Crore Tax Case, Cites Procedural Lapses [Read Order]

The Income Tax Appellate Tribunal (ITAT), Nagpur Bench, has set aside an appeal order and directed a fresh hearing for a school principal accused of failing to disclose cash deposits worth ₹3.65...

ITAT Rules in Favor of Rural Co-op Society: Deduction Under Section 80P Valid for Nominal Members, Overturns CIT(A) Order [Read Order]

In a significant relief for rural cooperative credit societies, the Income Tax Appellate Tribunal (ITAT) Nagpur Bench has ruled in favor of the appellant, allowing the deduction under Section 80P of...

Assessee's Failure to Submit Evidence Leads ITAT to Remand Case for Fresh Hearing [Read Order]

The Income Tax Appellate Tribunal (ITAT) Nagpur Bench has remanded the case of the appellant back to the Commissioner of Income Tax (Appeals) for a fresh hearing, after the assessee repeatedly...

AA Cannot Tax Entire Disputed Purchase Transactions as Bogus: Gujarat HC Limits Income Tax Addition to 6% [Read Order]

Gujarat HC Limits Income Tax Addition to 6%, Holds AA Cannot Tax Entire Disputed Bogus PurchaseIn a recent ruling, the Gujarat High Court held that the Assessing Authority (AA) cannot tax the entire...

NHAI Grant Not Deductible from Project Cost: ITAT Upholds Deletion of ₹43.43 Crore Depreciation Disallowance [Read Order]

The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) has upheld deletion of the disallowance of Rs. 43.43 crore as depreciation and confirmed that the Rs. 38.40 crore grant received...

No Independent Evidentiary Value For Statement Recorded u/s 133A During Survey: ITAT Deletes ₹9.6 Crore Bogus Purchases Addition [Read Order]

The Chandigarh Bench of the Income Tax Appellate Tribunal ( ITAT ) held that a statement recorded under Section 133A during a survey lacked independent evidentiary value and upheld the deletion of...

Failure to Send Income Tax Notices to Updated Email Address Denies Fair Hearing: Karnataka HC Quashes Assessment Order [Read Order]

The High Court of Karnataka, quashed an income tax assessment order, holding that the department’s failure to send notices to the petitioner’s updated email address denied a fair hearing. Suresh...

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