The second addition arose after the man transferred five of the six flats to his wife…
Tag: Income Tax Appellate Tribunal
Woman declared Rs 67.4 lakh ancestral jewellery in her ITR which led to additions by tax department; ITAT Mumbai deleted it on basis of old records, but rejected her Rs 12 lakh HUF brokerage claim
On the jewellery issue, the ITAT found that the department’s reasoning involved too many assumptions. (Image…
Medicine shop owner deposited Rs 2.47 crore cash, faced unexplained money tax notice; ITAT Delhi says Income Tax Dept could not counter his evidence, rules in his favour
The deposits in question were made by the medicine shop owner in three savings accounts. (Image…
He deposited Rs 14.96 lakh cash during demonetisation; landlord faced unexplained money tax notice under Section 69A, but ITAT Bangalore deletes addition on account of rental income
The ITAT Bangalore ordered the deletion of the entire addition of Rs 14,96,500 made under Section…
Homebuyer paid Rs 91 lakh upfront for a Rs 1.24 crore property, but circle value rose to Rs 1.46 crore by registration; why ITAT Kolkata gave her tax relief and deleted Rs 11.35 lakh addition
The Tribunal considered both the registered purchase agreement and the conveyance deed executed later. (Image for…
Senior citizen invested Rs 3 crore in tax-free bonds, but mistakenly paid tax on Rs 25.42 lakh interest earnings; why ITAT Delhi ordered Rs 9.91 lakh refund
While filing his return for AY 2022-23, he mistakenly treated Rs 25.42 lakh in interest from…
Her employer deducted Rs 3.91 lakh TDS but failed to deposit it; Mumbai IT professional got just Rs 79,030 credit and faced Rs 3.36 lakh demand, ITAT gives relief
As the deducted amount was not deposited, the complete TDS credit did not appear in her…
Wife sold shares for Rs 8.31 crore LTCG, bought husband’s Mumbai property for Rs 7.5 crore and claimed Section 54F exemption; taxman calls it tax avoidance, but ITAT Mumbai gives relief to her
The woman told the tax authorities that the property was bought as an investment for future…
He surrendered tenancy rights for redevelopment and got 2 flats worth Rs 1.38 crore; taxman added it as income, why ITAT Mumbai gave him relief
The two flats provided to him under the PAA were valued at Rs 1.38 crore by…
Rs 9.6 lakh EPF interest mistakenly shown by him in ITR, but taxman added it to income; ITAT Mumbai orders full relief
An error was made while his ITR was being prepared, resulting in Rs 9.6 lakh being…