Judgement

ITAT ruled that the AO erred in disallowing Rs. 1.56 crore expense in AY 2016–17 since the related Form 15CA pertained to AY 2015–16 remittance

AO Not Justified in disallowing expense when Form 15CA Relates to prior year: ITAT

ITAT held that expenses incurred to make a residential property habitable like embedded fixtures qualify as cost of improvement under Section 48.

Costs Incurred to Make House Habitable Qualify as Part of Asset's Cost of Improvement: ITAT

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

SC rules IRCTC’s deduction of dues under the catering contract valid. Upholds contractual recovery clause, says no arbitration needed for undisputed dues

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AO Not Justified in disallowing expense when Form 15CA Relates to prior year: ITAT

Costs Incurred to Make House Habitable Qualify as Part of Asset's Cost of Improvement: ITAT

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

Supreme Court Rules IRCTC Can Recover Dues Without Arbitration When Contractual Right Exists