Judgement

High Court upheld ITAT’s decision deleting addition on alleged penny stock LTCG, holding AO’s action based on unshared information and lack of evidence.

Long-held investments, sold on recognized stock exchange: Gujarat HC Dismisses Penny Stock Case

ITAT says that a mere incorrect claim under Section 35D does not amount to furnishing inaccurate particulars

ITAT: No Penalty on Yes Bank for Income Tax Addition made on Debatable Issue

News

The state government has set up a high-level committee to create uniform rules for flat ownership and issue legal property cards showing each owner’s land share.

State Forms Panel to Standardise Flat Ownership and Issue Vertical Property Cards to Flat Owners

High Court upholds ITAT’s order deleting 6.31 crore addition, holding that unverified documents alone cannot establish undisclosed investment

Gujarat HC deletes Rs. 6.31 Crore Income Tax Addition solely based on unverified document

SC directs the constitution of the Delhi Ridge Management Board (DRMB) under the Environment (Protection) Act, to ensure ecological restoration of both the Ridge and Morphological Ridge

Supreme Court Establishes Statutory Delhi Ridge Management Board for Ecological Protection

ITAT Delhi held that an NRI seller is entitled to TDS credit in the correct assessment year even if the buyer deposits the tax late.

Tribunal Rules Seller Cannot Be Denied TDS Credit Due to Buyer’s Late Payment

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