News

Bombay High Court refused interim relief to a same-sex couple challenging the gift tax exemption available only to heterosexual spouses.

HC Refuses Interim Relief as Same-Sex Couple Challenges Gift Tax Rule Under Section 56(2)(x)

Judgement

ITAT Mumbai holds that a taxpayer can claim Section 54F exemption even if the new property is not yet registered, as long as the investment is genuine.

Section 54F exemption cannot be denied merely because registration of Property is pending

ITAT holds that GIA India’s structured gemology and jewellery design programs qualify as education under Section 2(15), allowing Section 11 charitable exemption.

Gemology and Jewellery Courses Qualify as “Education” for Charitable Exemption under Section 11

The ITAT observed that the assessing officer had not disputed the supporting documents submitted by the assessee like VAT returns and sample purchase and sales bills..

ITAT Deletes Unexplained Cash Credit Addition After Finding No Merits

The ITAT remanded the case after finding that the assessee was not given a fair chance to present evidence for her demonetization cash deposits.

ITAT Sets Aside Addition on Demonetisation Cash Deposit of Rs. 14.32 Lakh, Orders Fresh Assessment

Tribunal holds that PCIT can revise an assessment order under Section 263 even if the same issue is pending before CIT(A), reaffirming Supreme Court rulings

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HC Refuses Interim Relief as Same-Sex Couple Challenges Gift Tax Rule Under Section 56(2)(x)

Section 54F exemption cannot be denied merely because registration of Property is pending

Gemology and Jewellery Courses Qualify as “Education” for Charitable Exemption under Section 11

ITAT Deletes Unexplained Cash Credit Addition After Finding No Merits

ITAT Sets Aside Addition on Demonetisation Cash Deposit of Rs. 14.32 Lakh, Orders Fresh Assessment

ITAT Upholds PCIT’s Section 263 Revision Despite Pending CIT(A) Appeal: Jurisdictional Bar Not Applicable