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Dr. B. R. R. Kumar

LTCG to be Computed from Taxpayer’s First Year as Property Holder: ITAT Notes Error in Indexation Year [Read Order]

The Income Tax Appellate Tribunal ( ITAT ) has, in a recent case, noted that while computing long term capital gain, the indexation must be...

Cash from Sale of Crops Deposited during Demonetization Period, Supporting Documents Submitted: ITAT...

Cash Payment for Joint Flat Bought with Wife Explained through Bank Records: ITAT Deletes ₹5.25 Lakh...

ITAT quashes reassessment proceedings initiated on basis of incorrect facts recorded by AO [Read...

No addition shall be made u/s 68 of Income Tax Act, when Authenticity/Genuineness of Share...

No Disallowance u/s 40A(2) towards Payments of Supervision and Risk Management Charges to Relative Concerns: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) held that no disallowance should be made under Section 40A(2) of Income Tax Act in respect of payments of supervision and risk...

ITAT Weekly Round Up

This is the weekly round of the Income Tax Appellate Tribunal ( ITAT ) that were published at Taxscan.in from March 01, 2024 to March 08 are analytically summarized in this Round-Up. ...

ITAT upholds addition made on account of commission income earned from accommodation entries [Read Order]

The Income Tax Appellate Tribunal (ITAT) Delhi bench recently upheld the addition made on account of commission income earned from the accommodation entries. In this case the...

Jewellery found during Survey Proceedings are Gifts from Mother-In-Law as Stridhan: ITAT deletes Addition [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi bench, while deleting the addition, observed that the jewelry found during survey proceedings were gifts from the mother-in-law as stridhan. The...

Non-submission of Challan to Prove Payment of Sales Tax : ITAT Directs to Submit Documents Within 6 Months [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) ordered the assessee to submit the challan proving the payment of sales tax and the relevant order of the VAT assessment along with the demand...

Section 56(2)(vii)(b) of Income Tax Act Applies to "Individual" and "HUF" and not Company: ITAT quashes Revision Order [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) held that the provision of section 56(2)(vii)(b) of the Income Tax Act and submitted that it applies to “individual” and “HUF” and not to a...

Tax evasion by way of Colourable Devices and Sham Transaction to defraud Department: ITAT dismisses assessee appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT) Panaji bench dismissed the appeal filed by the assessee and observed that the assessee has evaded tax by way of colourable devices and sham transactions to...