Judgement

The ITAT upholding a Rs 2.76 lakh addition under Section 68 and a penalty of Rs 85,370 under Section 271(1)(c) over alleged bogus long-term capital gains from Safal Herbs Ltd. shares.

ITAT Upholds Rs 2.76 Lakh Addition, Holds Stock Exchange and Banking Records Alone Cannot Prove Genuine LTCG

The ITAT held that failure to establish service of the mandatory Section 143(2) notice and the jurisdictional defect under CBDT Circular No. 1/2011 invalidated the assessment proceedings.

ITAT Quashes Bogus LTCG Assessment for Non-Service of Mandatory Section 143(2) Notice

ITAT condoned a 24-day delay and remanded LTCG appeals for fresh adjudication after finding that the CIT(A) had not fully recorded his submissions and evidence.

ITAT Condones 24-Day Delay, Remands Rs 1.07 Crore LTCG Penny Stock Dispute After CIT(A) Fails to Record Complete Submissions

ITAT remands the Rs 59.84 lakh LTCG assessment to the AO for fresh adjudication and restores the related Section 271(1)(c) penalty proceedings.

ITAT Sets Aside Rs 59.84 Lakh LTCG Addition, Orders De Novo Assessment

The ITAT Delhi held that Investigation Wing Report and SEBI findings alone cannot establish bogus LTCG without independent evidence.


ITAT Deletes Section 68 Addition on LTCG from Penny Stocks for Lack of Direct Evidence

The ITAT Bangalore holds Finance Act 2025 restriction on Section 87A rebate as prospective. 


ITAT Allows Section 87A Rebate on LTCG Taxable Under Section 112 for AY 2024-25

One Stop Solution For CA CS CWA Direct Indirect Tax GST Business News

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts