Judgement

ITAT rules that a registered valuer’s report without comparable sale evidence cannot override a DVO’s valuation based on verified market data and procedures.

Registered Valuer’s Unsupported FMV Report Cannot Override DVO’s Comparable Sales-Based Estimate

ITAT rules that a gift received from a brother-in-law qualifies as a genuine and exempt transaction under Income Tax Act. No tax liability arises.

ITAT: Gift from Brother-in-Law Held Genuine and Tax-Free Under Income Tax

The deletion of the addition by the CIT(A) was confirmed by the ITAT, holding that additions under Section 153A cannot be made if no incriminating material is found during the search.

Section 153A Addition Cannot be Made Without Incriminating Material: ITAT Upholds CIT(A)'s Order

Delhi High Court sets aside income tax reassessment as it was based on a transaction already closed by the GST Department in related ITC proceedings

Income Tax Reassessment based on DGGI Information Set Aside after GST Proceedings Closure on Same Issue

ITAT condoned a 933-day delay in filing an appeal due to the death of the taxpayer’s consultant. The appeal is restored and remanded for fresh adjudication.

ITAT Condones 933-Day Delay: Appeal Restored After Tax Consultant’s Death, Case Remanded for Fresh Hearing

The Tribunal confirmed the CIT(A)'s order and held that only the profit element embedded in such purchases can be added to the income and not the entire purchase.

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Registered Valuer’s Unsupported FMV Report Cannot Override DVO’s Comparable Sales-Based Estimate

ITAT: Gift from Brother-in-Law Held Genuine and Tax-Free Under Income Tax

Section 153A Addition Cannot be Made Without Incriminating Material: ITAT Upholds CIT(A)'s Order

Income Tax Reassessment based on DGGI Information Set Aside after GST Proceedings Closure on Same Issue

ITAT Condones 933-Day Delay: Appeal Restored After Tax Consultant’s Death, Case Remanded for Fresh Hearing

Only Profit Element Embedded in Alleged Bogus Purchases Must be Taxed: ITAT Upholds CIT(A)'s Order