Judgement

Supreme Court held that CBDT circulars and instructions may bind Income Tax Department officials but cannot dictate how courts interpret the Income Tax Act.

CBDT Circulars and Instructions Cannot Bind Courts on Income Tax Act Interpretation, Holds Supreme Court

The ITAT Mumbai deleted an addition of Rs 76.92 lakh made under Section 69 of the Income Tax Act towards alleged cash payment to a builder for purchase of a flat.


ITAT Holds Alleged Cash Payment Cannot Sustain Addition Without Independent Enquiry or Material Evidence

ITAT held that two bungalows constructed and used as one residential unit could qualify for deduction under Section 54F of the Income Tax Act.

ITAT Allows Section 54F Deduction for Two Bungalows Clubbed as Single Residential Unit

The ITAT deleted an addition of Rs 86.42 lakh made under Section 56(2)(x) of the Income Tax Act concerning four immovable properties.

ITAT Holds Stamp Duty Value Cannot Replace Purchase Consideration Without DVO Report 

The ITAT Bangalore deleted an addition of Rs 9.99 lakh made under Section 69A of the Income Tax Act towards cash deposited in the assessee’s bank account. 


ITAT Deletes Section 69A Addition After Assessee Proves Cash Gift from Father

The ITAT Mumbai holds mere access to online communication platform does not amount to transfer of Copyright or process


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CBDT Circulars and Instructions Cannot Bind Courts on Income Tax Act Interpretation, Holds Supreme Court

ITAT Holds Alleged Cash Payment Cannot Sustain Addition Without Independent Enquiry or Material Evidence

ITAT Allows Section 54F Deduction for Two Bungalows Clubbed as Single Residential Unit

ITAT Holds Stamp Duty Value Cannot Replace Purchase Consideration Without DVO Report

ITAT Deletes Section 69A Addition After Assessee Proves Cash Gift from Father

ITAT Holds Slack Subscription Fees Not Taxable as Royalty Under Income Tax Act and India-Ireland DTAA