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ITAT Deletes Addition u/s 56(2)(x); Holds Sale Price Below Stamp Duty Value Justified Due to Title Dispute, Variation Within 5% Threshold

Sneha Sukumaran Mullakkal

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) deleted an addition of ₹16,12,245 made under section 56(2)(x) of the Income Tax...

Taxpayer Not Property Owner, Only POA Holder: ITAT Remands Rs. 4.73 Crore LTCG Addition Matter [Read...

Stamp Duty Valuation Dispute: ITAT Condones 111-Day Delay in Interest of Fairness, Restores Matter...

Stamp Duty Not Payable by Wife for Flat Acquired as Part of Compromise in Divorce Case: Supreme...

Statutory Functionary - Assume powers - Supreme Court - Supreme Court Directs Refund - Unduly Retained Stamp Duty - Stamp Duty - taxscan

Statutory Functionary Cannot Assume powers not Conferred Upon It: Supreme Court Directs Refund of...

Invalid Reassessment Notice due to Lack of PCCIT Approval: ITAT quashes Additions [Read Order]

The Kolkata Bench of Income Tax Appellate Tribunal ( ITAT ) quashed the additions made by the Assessing Officer (AO) after finding that the reassessment notice issued under section 148 was invalid...

Stamp Duty Value Difference Leads to Addition of Rs.1.28 Crore: ITAT Upholds CIT(A)'s Decision [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed the appeal filed by the assessee regarding the addition of Rs. 1.28 crore under Section 56(2)(vii)(b)(ii) of Income Tax...

'Collected 15 k Cr in Additional Tax from Stamp registration', Says Karnataka Revenue Minister

The Revenue Minister of Karnataka said that the State Government has collected Rs 15,145 crore in additional tax from stamps and registration in the current fiscal year. Compared to last year, the...

Additional tax collection - stamp duty - Karnataka Revenue Minister - Additional Tax from Stamp registration - taxscan

ITAT Upholds Gujarat Gas Ltd.'s Deduction for Stamp Duty Provision u/s 35DD, citing Full Payment of Duty [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) upheld Gujarat Gas Ltd.'s deduction for stamp duty provision under Section 35DD, ruling that the full payment of stamp duty in two...

ITAT invalidates Addition u/s 56(2)(vii) and deletes Deemed Gift due to Incorrect Valuation Date [Read Order]

The Kolkata Bench ofIncome Tax Appellate Tribunal ( ITAT ) invalidated the addition made under Section 56(2)(vii) of the Income Tax Act,1961 and deleted the deemed gift classification due to the...

Trade Smart: Money Management Tips for New Traders

Navigating the world of trading can be both exciting and daunting for new traders. The appeal of potential profits can sometimes overshadow the importance of managing your finances wisely. Effective...

Trade Smart - Money Management - Tips - New Traders - taxscan

ITAT directs AO to deletes addition of 3.92 Lakhs if Market Value difference is within 10% Tolerance limit [Read Order]

In the case of Tarun Mohan Jani vs ACIT, the Income Tax Appellate Tribunal ( ITAT ) Mumbai ruled in favor of the appellant, granting him relief from an addition of ₹3, 92,000 made under Section 56(2)...