Judgement

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.

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

The AO was directed to determine whether the surrender of PAN was informed before reassessment and whether the impugned investments were actually connected to the surrendered PAN.

Mistake in Quoting PAN won’t Invalidate Income Tax Proceedings: ITAT

ITAT Ahmedabad partly allowed the appeal, deleting the deemed rent on vacant flats and permitting a change in self-occupied property choice.

ITAT Partly Allows Appeal: Deletion of Deemed Rent on Vacant Flats, Relief on Self-Occupied Property Option

Supreme Court clarifies “previous financial year” under Odisha Minor Mineral Rules; quashes High Court ruling, orders fresh auction for Mahanadi Sand Quarry

Supreme Court Settles 'Previous Financial Year' Dispute in Tender Law: ITR Filing Window Matters

The ITAT, Ahmedabad, has recently held that an assessing officer must first refer the matter to the Departmental Valuation Officer (DVO) to determine Fair Market Value.

AO Must Refer to DVO for Fair Market Value: ITAT Deletes Addition Based Solely on Estimates

ITAT remanded the case back to the Assessing Officer for verification of facts. The assessee’s second appeal was dismissed as withdrawn

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

Mistake in Quoting PAN won’t Invalidate Income Tax Proceedings: ITAT

ITAT Partly Allows Appeal: Deletion of Deemed Rent on Vacant Flats, Relief on Self-Occupied Property Option

Supreme Court Settles 'Previous Financial Year' Dispute in Tender Law: ITR Filing Window Matters

AO Must Refer to DVO for Fair Market Value: ITAT Deletes Addition Based Solely on Estimates

ITAT Bangalore Remands Case for Verification; Second Appeal Dismissed as Withdrawn