Judgement

ITAT removed the Rs 10 lakh addition after confirming the cash deposit came from genuine family gifts and savings.

ITAT Deletes Rs. 10 Lakh Addition After Finding Cash Deposit Was Properly Explained

The Tribunal held that a figure mentioned on a paper cannot be considered as evidence for treating the figure as unexplained money

ITAT Deletes Addition Made u/s 69A Based on Promissory Note Found in Possession of Third Party

News

Bombay High Court refused interim relief to a same-sex couple challenging the gift tax exemption available only to heterosexual spouses.

HC Refuses Interim Relief as Same-Sex Couple Challenges Gift Tax Rule Under Section 56(2)(x)

ITAT Mumbai holds that a taxpayer can claim Section 54F exemption even if the new property is not yet registered, as long as the investment is genuine.

Section 54F exemption cannot be denied merely because registration of Property is pending

ITAT holds that GIA India’s structured gemology and jewellery design programs qualify as education under Section 2(15), allowing Section 11 charitable exemption.

Gemology and Jewellery Courses Qualify as “Education” for Charitable Exemption under Section 11

The ITAT observed that the assessing officer had not disputed the supporting documents submitted by the assessee like VAT returns and sample purchase and sales bills..

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ITAT Deletes Rs. 10 Lakh Addition After Finding Cash Deposit Was Properly Explained

ITAT Deletes Addition Made u/s 69A Based on Promissory Note Found in Possession of Third Party

HC Refuses Interim Relief as Same-Sex Couple Challenges Gift Tax Rule Under Section 56(2)(x)

Section 54F exemption cannot be denied merely because registration of Property is pending

Gemology and Jewellery Courses Qualify as “Education” for Charitable Exemption under Section 11

ITAT Deletes Unexplained Cash Credit Addition After Finding No Merits