Judgement

The Chandigarh ITAT allowed full Section 54 exemption and directed fresh computation of the property's indexed cost, granting major capital gains tax relief to the taxpayer.

ITAT Grants Full Section 54 Relief Despite Joint Property Ownership

The ITAT holds that the stamp duty value on the booking/allotment date must be considered where consideration was received through banking channels before registration.

ITAT Rules No Deemed Income Under Section 43CA Where Booking Date Valuation Supports Sale Price

ITAT allows Section 54 deduction for multiple houses and restores full improvement cost claim.

Multiple House Investments Eligible for Section 54 Deduction: ITAT

The ITAT has held that a penalty imposed under Section 271G of the Income Tax Act cannot survive when the very transfer pricing adjustment forming its basis has already been deleted in quantum proceedings.

ITAT Deletes Rs 5.46 Crore Penalty Under Section 271G After Transfer Pricing Addition Was Quashed

ITAT quashes reassessment after finding approval obtained from an authority not prescribed by law.

ITAT Quashes Reassessment Over Approval from Wrong Sanctioning Authority

The ITAT Mumbai upheld the order of the National Faceless Appeal Centre (NFAC) deleting an addition of Rs 6.14 crore made under Section 68 of the Income Tax Act

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ITAT Grants Full Section 54 Relief Despite Joint Property Ownership

ITAT Rules No Deemed Income Under Section 43CA Where Booking Date Valuation Supports Sale Price

Multiple House Investments Eligible for Section 54 Deduction: ITAT

ITAT Deletes Rs 5.46 Crore Penalty Under Section 271G After Transfer Pricing Addition Was Quashed

ITAT Quashes Reassessment Over Approval from Wrong Sanctioning Authority

ITAT Deletes Rs 6.14 Crore Addition, Holds Assessee is Not Required to Prove Source of Loan Creditor