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Reassessment of ₹20.19 lakh LTCG as bogus: ITAT Quashes Assessment Due to Lack of Tangible Evidence [Read Order]

Sneha Sukumaran Mullakkal

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) quashed the reassessment of ₹20.19 lakh Long Term Capital Gain ( LTCG ) as bogus due to...

Addition of LTCG and Unsecured Loans Due to Lack of Documentation: ITAT Remands Matter to AO [Read...

ITAT directs Reconsideration of LTCG Claim owing to New Evidence including Cheque Transactions [Read...

[BREAKING] CIT(A) directs AO to allow Income Tax 87A Rebate on STCG earlier Disallowed by Portal...

Delhi HC upholds PCIT Order overruling AO’s erroneous Land Classification in Income Tax Assessment...

ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]

The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) deletes Rs. 6 lakh penalty on the assessee over an alleged violation of Section 269SS of the Income Tax Act, 1961. In this case,...

Assessee Not Required To Produce Documents When AO Accepted Co-Owner’s Indexed Renovation Expenses in Income Tax Assessment order: Gujarat HC [Read Order]

The Gujarat High Court in a recent case has held that the assessee is not required to produce documents when the Assessing officer ( AO ) accepted co-owner’s indexed renovation expenses in income tax...

ITAT Exempts Penny Stock Transactions u/s 10(38) Due to STT Compliance, Denies AO’s Bogus Transaction Allegations [Read Order]

The Cuttack Bench of the Income Tax Appellate Tribunal ( ITAT ) allowed exemption under Section 10 (38) of the Income Tax Act, 1961, which the Assessing Officer had denied because the share...

ITAT Rejects Allegation of Fabricated LTCG, Validates Sale Price of Unquoted Shares [Read Order]

In a recent case, Ahmedabad “A” bench of the Income Tax Appellate Tribunal (ITAT) rejected allegations of fabrication regarding the Long Term Capital Gain (LTCG) earned by the assessee from the sale...

Meeting requirements of section 148 of Income Tax Act eliminates need for Separate Notice u/s 143: ITAT [Read Order]

Income Tax Appellate Tribunal ( ITAT ) in a recent case held that meeting statutory requirements of Section 148 of Income Tax Act 1961 ( ITA ) eliminates the need for separate notice under section...

Income Tax Dept fails to Contradict Taxpayer’s Evidence for LTCG from Share Sale: Rajasthan HC Upholds ITAT Order [Read Order]

In a recent ruling, the Rajasthan High Court upheld the order of the Income Tax Appellate Tribunal ( ITAT ), observing that the income tax department failed to provide any contradictory evidence...

LTCG on Sale of Shares by Mauritius Company Not Liable to Be Taxed in India: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that Long-Term Capital Gain (LTCG) on sale of shares by Mauritius Company is not liable to be taxed in India. Superb Mind Holdings...

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