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The assessee earned over Rs. 2 crore as LTCG from the sale of shares and claimed exemption under Section 10(38). The AO under Section 148 and treated the LTCG as bogus.

ITAT Deletes Addition on Bogus Long Term Capital Gain Exemption [Read Order]

ITAT Deletes Addition on Bogus Long-Term Capital Gain Exemption [Read Order]

ITAT allowed a delayed Section 54F exemption claim and remanded the case to the AO for fresh valuation, directing verification of co-ownership and cost of acquisition.

ITAT Allows Late Claim of Section 54F Exemption [Read Order]

Many companies nowadays offer telephone and internet allowances to their employees who work from home, but are these allowances taxable?

Is Telephone and Internet Allowance Taxable?

ITAT ruled in favor of Shri Devadass Suresh by deleting the penalty under Section 69A for a cash deposit during demonetization.

Cash Deposited by Son from His Mother's Savings During Demonetization: ITAT Deletes Penalty

There are some high-value transactions for which the Income Tax Department can issue notices to you.

These High-Value Transactions Can Get You Notices From the Income Tax Department

The income tax department has introduced a new form called ITR-B for people to report income they previously didn't disclose, which was discovered during tax searches.

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ITAT Deletes Addition on Bogus Long-Term Capital Gain Exemption [Read Order]

ITAT Allows Late Claim of Section 54F Exemption [Read Order]

Is Telephone and Internet Allowance Taxable?

Cash Deposited by Son from His Mother's Savings During Demonetization: ITAT Deletes Penalty

These High-Value Transactions Can Get You Notices From the Income Tax Department

Income Tax Department Introduces New ITR Form for Undisclosed Income Found During Search